Naira loses 0.64% against dollar at official market
Photo Credit: Vanguard Newspaper
The naira on Wednesday further depreciated at the official market, trading at N1,308.52 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N8.37.
This represents a 0.64 per cent loss when compared to the previous trading date on Tuesday, April 23, when it exchanged at N1,300.15 to a dollar.
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FG to tackle poverty, insecurity with national financial inclusion agenda
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THE Presidency has hinted of plans by the Federal Government to tackle poverty and insecurity head on through financial inclusion for all Nigerians.
Accordingly, it said there are high-level talks to unveil a roadmap to integrate the unbanked Nigerian population into the formal financial system.
According to the Presidency, this is one of the primes in the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration.
Stakeholders kick as Aviation minister suspends Dana Air’s operations
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Following runway excursion incident suffered by Dana Air at the Murtala Muhammed International Airport in Lagos,
yesterday, the Ministry of Aviation and Aerospace Development has ordered the Nigerian Civil Aviation Authority, NCAA, to suspend the airline until comprehensive audits on its fleet were conducted.
A letter signed by the ministry’s Permanent Secretary, Dr Emmanuel Meribole, to the NCAA, yesterday, said recent incidents involving Dana Air had raised concerns about the safety and financial viability of the airline’s operations
US report spotlights Nigerian prisons’ poor conditions
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The United States has underscored the significant challenge of overcrowding in Nigerian prisons.
In its ‘2023 Country Reports on Human Rights Practices: Nigeria,’ published on its website on Tuesday, the US noted that numerous correctional facilities were grappling with a staggering 50 per cent increase in the number of inmates beyond their intended capacity, revealing a systemic issue.
Furthermore, it was disclosed that a notable proportion of these prisons, some with histories dating back 70 to 80 years, faced difficulties in meeting even the most fundamental standards of living.
The report stated, “Overcrowding was a significant problem. As of September, prison facilities had 50 per cent more inmates than designed capacity.