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Naira falls again at parallel market

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The Naira on Wednesday fell further to N492 to a dollar at the parallel market, from N490 it closed on Tuesday.

The Pound Sterling and the Euro closed at N605 and N505 respectively.

At the Bureau De Change (BDC) window, the Naira traded at N399 to a dollar, CBN rate, while the Pound Sterling and the Euro closed at N604 and N510, respectively.

The Naira remained stable at the official interbank window, exchanging at N305.25 to a dollar.

Against the backdrop of the call for the abolition of the parallel market, Alhaji Aminu Gwadabe, President Bureau De Change Operators of Nigeria (ABCON) said it was a welcome development.

“The scrapping of multiple markets outside the purview of the CBN will be a welcome development.

“The existence of multiple rates is highly unacceptable,’’ Gwadabe said.

NAN reports that Reuters mentioned on Tuesday of plans by the Ministry of finance to liaise with the CBN to ensure the scrapping of the parallel market

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War: China, India, Tajikistan, others to send troops to Russia

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China’s People’s Liberation Army will send troops to Russia to participate in the “East-2022” drills.

The East-2022 is also called the Vostok-2022 and this was disclosed by the Chinese Ministry of Defense on Wednesday, according to CNN.

“China’s participation in the exercise is aimed at deepening practical and friendly cooperation with the armies of the participating countries,” the ministry added.

It further explained that the Asian giants’ participation would enhance the level of strategic cooperation among countries involved.

The exercise would further strengthen the ability to respond to various security threats, according to the defense ministry.

It, however, added that the exercise is unrelated to the current international and regional situation.

Other nations to join in the exercise are India, Belarus, Tajikistan, Mongolia and other countries.

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Buhari approves three orthopedic hospitals in Edo, Plateau, Taraba

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President Muhammadu Buhari has approved the establishment of three additional orthopedic hospitals.

Health Minister, Osagie Ehanire, made the announcement on Wednesday at the inauguration of the Primary Health Care(PHC) Leadership Challenge at the State House.

The event was organised by the Nigeria Governors’ Forum (NGF) in collaboration with development partners.

Ehanire disclosed that the President approved siting of the orthopedic hospital in three regions.

“North-East has one; the North-Central has one and the South-South has one; in Benin, Jos and Jalingo respectively”, NAN quoted him saying.

Finance Minister, Zainab Ahmed said N471.9 billion had been disbursed to states under the $1.5billion World Bank-Assisted States Fiscal Transparency Accountability and Sustainability (SFTAS) Programme.

She added that all the 36 states had fully domesticated the fiscal reforms in their public financial management system.

Buhari approves three orthopedic hospitals in Edo, Plateau, Taraba

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BREAKING: Electricity workers call off strike

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National Union of Electricity Employees (NUEE) has called off its nationwide strike.

The decision followed an emergency meeting with the Minister of Labour and Employment, Chris Ngige on Wednesday.

The minister’s spokesman Olajide Oshundun, announced that Ngige intervened in the industrial action.

NUEE Secretary General, Joe Ajaero, assured that electricity would be restored across the country tonight.

The workers shut down all Transmission Companies of Nigeria (TCN) offices earlier today.

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