Tuesday, April 30

Appreciation of Naira against US Dollar in Official Forex Market
30Apr By Afolake IbidunNo Comments
Business

Appreciation of Naira against US Dollar in Official Forex Market

Breaking news as the naira has seen an increase in value against the US dollar in the official foreign exchange market this week. Data from FMDQ revealed a rise to N1,390.96 per dollar on Tuesday, up from N1,419.11 on Monday. This marks a gain of N28.15 or 1.98% against the dollar compared to the previous day's rate of N1,419.11. It is noteworthy that the naira had been experiencing a downtrend against the dollar in the official market until Tuesday. On another note, the naira experienced depreciation at the parallel market, dropping to N1,360 per dollar on Tuesday from N1,280 the day before.
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Graeme Souness: Salah Allegedly Struck a ‘Deal’ with Klopp Regarding Liverpool Departure
30Apr By Ofomata EdidiongNo Comments
Sports

Graeme Souness: Salah Allegedly Struck a ‘Deal’ with Klopp Regarding Liverpool Departure

According to Graeme Souness, Mohamed Salah reportedly reached an agreement with Liverpool last summer, in which he supposedly promised to stay in the Premier League for another year before seeking an exit. Despite scoring 210 goals in 346 appearances for Liverpool, Salah was heavily linked with a potential departure last year. Following a touchline altercation with manager Jurgen Klopp during the recent 2-2 draw against West Ham, speculations about Salah's exit from Anfield have intensified. During an appearance on talkSPORT, Souness expressed his views stating, “I think there’s a real chance. “There’s every chance he did a deal with Liverpool at the end of last season saying he’ll give them one more year and then go. A bit like [Cristiano] Ronaldo did at Manchester United befor...
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Women’s President Federation Cup Round of 32: NFF Announces Venues and Dates
30Apr By Ofomata EdidiongNo Comments
Sports

Women’s President Federation Cup Round of 32: NFF Announces Venues and Dates

Venues and dates for the upcoming women's President Federation Cup Round of 32 fixtures have been announced by the Nigeria Football Federation, NFF. An official letter detailing the venues and dates for the games was circulated to all participating teams and state FA secretaries by the NFF. The matches are scheduled to take place on May 8th and 9th. In one of the key matches, 2023 Federation Cup winners Bayelsa Queens will face Bright Future Queens of Enugu at the Godswill Akpabio Stadium in Uyo on May 8th. Meanwhile, runners-up Rivers Angels will clash with Ekiti Queens at the Stephen Keshi Stadium in Asaba on May 9th. Additional fixtures include Nasarawa Amazons versus Suit De Queens in Enugu, and Dannaz Ladies against Mighty Jets - both matches also set to be held in Enugu. Here are...
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According to Lehmann, Arsenal’s Title Hopes Could Suffer Due to Caution
30Apr By Ofomata EdidiongNo Comments
Sports

According to Lehmann, Arsenal’s Title Hopes Could Suffer Due to Caution

An observation made by Arsenal icon Jens Lehmann suggests that the Gunners' cautious approach may hinder their chances of winning the Premier League title this season. The current leaders in the title race are Mikel Arteta’s team, who have accumulated 80 points from 35 matches. In contrast, Manchester City trails closely behind in second place with 79 points from 34 games. Reflecting on the differences between the two teams, Lehmann remarked, "Their playing style is markedly dissimilar to ours—they tend to be more cautious and deliberate in their ball possession. While they exhibit greater physicality with more high-intensity runs, their pace of play is not as rapid as ours since we were known for our one-touch style." He added, "They tend to take multiple touche...
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Opay Addresses CBN Restriction Amid Illicit FX Transactions
30Apr By Afolake IbidunNo Comments
Business

Opay Addresses CBN Restriction Amid Illicit FX Transactions

Amid the recent restrictions imposed by the Central Bank of Nigeria, Opay announced that it has taken steps to close non-compliant accounts. As reported by Nairametric, Opay made this disclosure in a statement released on Tuesday. Reports from NewsNow indicated that Opay, along with Palmpay, Kuda Bank, and Moniepoint, were barred from onboarding new customers due to suspicions of involvement in illicit foreign exchange transactions. In response, Opay reiterated its dedication to collaborating with the CBN and other regulatory authorities to combat money laundering, fraud, terrorism financing, and other illicit financial activities. Emphasizing their commitment to regulatory compliance, Opay highlighted their adherence to the rules set by the CBN and other regulators to safeguard the in...
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Port Harcourt-Aba Rail Line Launched by FG
30Apr By Mariam AbdullahiNo Comments
News

Port Harcourt-Aba Rail Line Launched by FG

Public use of the Port Harcourt-Aba rail line for commercial train operations was inaugurated by the Federal Government on Tuesday. The launch of commercial services along the 62-kilometre Port-Harcourt-Aba corridor took place at the railway station in Port Harcourt, with the Minister of Transportation, Said Alkali, officiating. Efforts to enhance trade, mobility, and connectivity between southern and northeastern Nigeria were underscored by Alkali during the inauguration event. China Civil Engineering and Construction Company was contracted for the rehabilitation project by the Federal Ministry of Transportation with an expected completion time of 36 months, according to the minister. Within the scope of the project are the rehabilitation of the existing narrow gauge railway li...
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April Sees a Loss of N3.57 Trillion for NGX Investors Due to CBN Policies
30Apr By Afolake IbidunNo Comments
Business

April Sees a Loss of N3.57 Trillion for NGX Investors Due to CBN Policies

In April, investors in the Nigerian Exchange Market Limited witnessed a decrease in market value by N3.57 trillion as the All-Share Index faced a notable decline amidst recent banks' recapitalization policy by the Central Bank of Nigeria. This decline marks the first monthly drop for the NGX in the current year, in contrast to the gains of 17.7%, 12.47%, and 5.64% seen in January, February, and March respectively. Nonetheless, the NGX still maintains a year-to-date increase of 31.36%. Various policy announcements made by the CBN played a significant role in the sharp decline of the index. On April 2, 2024, the CBN introduced a new plan for commercial banks' recapitalization, with the goal of generating an estimated N4 trillion in fresh capital over the next two years. The market...
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The Challenges Facing Border Communities Must Be Addressed Urgently – Federal Government
30Apr By Mariam AbdullahiNo Comments
News

The Challenges Facing Border Communities Must Be Addressed Urgently – Federal Government

The urgent need to address the numerous challenges faced by border communities was emphasized by the federal government. During a courtesy visit at the Ship House, Minister of Defence, Mohammed Badaru Abubakar, expressed this sentiment while meeting with the Executive Secretary of the Border Communities Development Agency, BCDA, Dr. George D.A. Kelly. An official statement signed by Mati Ali, Personal Assistant for Media and Publicity to the Minister, and released to NewsNow, highlighted specific challenges such as inadequate healthcare facilities and lack of access to clean water. The minister called for a collaborative effort from all stakeholders to tackle the issues encountered by residents of border communities. He asserted, "The government is dedicated to providing solutions...
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Exciting News: Arsenal’s Squad Gets Boost with Timber’s Return for Bournemouth Clash
30Apr By Ofomata EdidiongNo Comments
Sports

Exciting News: Arsenal’s Squad Gets Boost with Timber’s Return for Bournemouth Clash

For Arsenal fans, the eagerly anticipated return of defender Jurrien Timber to the first-team is on the horizon as they prepare to host Bournemouth in the upcoming Premier League fixture this Saturday. Since his unfortunate ACL injury in the season's opening game against Nottingham Forest, the 22-year-old has been out of action. However, Timber has been making significant strides in his recovery process, showcasing his progress with two strong showings for the Under-21 side. During these appearances, the Dutchman managed to impress by scoring a spectacular goal against Blackburn Rovers, hinting at his readiness to rejoin the senior squad. Arsenal's manager, Mikel Arteta, recently hinted at Timber's imminent return by stating that he was very close to inclusion in the squad ...
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The Ondo government strengthens Sunshine Stars’ technical department
30Apr By Ofomata EdidiongNo Comments
Sports

The Ondo government strengthens Sunshine Stars’ technical department

To ensure their continued presence in the top-flight league, Sunshine Stars, a Nigeria Premier Football League team, has bolstered their technical department. The technical director, Gabriel Aborowa, and technical consultant, Henry Abiodun, have been appointed by the Ondo State Sports Commissioner for Sports and Youth Development, Kolawole Saka-Ogunleye, in a bid to support head coach Kennedy Boboye and prevent the Owena Waves from relegation. These appointments are effective immediately and are part of the efforts to also revamp Sunshine Queens, a Nigeria Women Football League team. Prior to this, Aborowa was the team manager of Sunshine Stars, and Abiodun has previously served as the team's head coach. Currently, Sunshine Stars are in the 18th position on the NPFL table with 36 ...
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