The naira depreciated to N1,369 per dollar on Monday, down from N1,361.5/$ recorded at the close of trading on Friday, as persistent pressures in the foreign exchange (FX) market outweighed supportive global trends. Data published by the Central Bank of Nigeria (CBN) shows the latest close represents the currency’s weakest level since April 8, 2026, when it traded at the same rate—extending a steady depreciation trend in recent sessions. The naira has also declined from N1,349.67/$ recorded at the start of last week. The downturn comes amid concerns over declining external reserves and sustained FX demand, raising questions about the…
Author: Newsdesk
The Central Bank of Nigeria (CBN) has continued to impose restrictions on Bureau De Change (BDC) operators’ access to the official foreign exchange (FX) market, citing persistent concerns over regulatory control and past abuses. Insights from forex traders and market operators indicate that the apex bank continues to favour a bank-led FX distribution model, driven by the need to strengthen compliance and ensure market stability. Concerns over practices such as arbitrage and round-tripping have also reinforced the regulator’s cautious stance toward the BDC segment. BDC operators have repeatedly expressed frustration over limited access to foreign exchange from the official window,…
The Acting Rector of Rufus Giwa Polytechnic, Owo (RUGIPO), Dr Lawson Sunday, has appealed to the striking workers of the institution to embrace dialogue and peace in the interest of the students. This appeal was contained in a statement issued by the institution’s Senior Assistant Registrar, Mr Olumide Olugosi, on Monday in Akure. Dr Sunday, a registered engineer, was appointed Acting Rector by Governor Lucky Aiyedatiwa on April 25. The Acting Rector assured staff that all issues affecting the polytechnic would be given due attention through appropriate channels. He promised that matters relating to staff promotion would be addressed with…
Some commercial drivers in Bauchi have expressed concern over the recent hike in fuel prices amid declining patronage. Reporters observed on Tuesday in Bauchi that pump prices had increased by about 40 per cent in the last four weeks. A litre of petrol now sells for between N1,350 and N1,380, up from N870 previously. This has led to a corresponding rise in transport fares across motor parks. Mr Yunusa Kazim, a commercial driver, said the surge in petrol price has negatively affected his business. “I am now recording low patronage because many traders prefer sending goods through waybill services instead…
The Executive Secretary of the Enugu State Library Board, Mrs Sylvia Onwubuemeli, has called on young people, especially teenagers and Gen Z, to prioritise library use and reverse the declining reading culture. Onwubuemeli made the call on Monday in Enugu during an interview with reporters. She stressed that books remain essential for intellectual growth and deep concentration. “While digital devices offer convenience, they often come with distractions that hinder focus,” she said. “My advice to young people is that books are indispensable. Nothing enhances concentration like reading a physical book. When you read, your entire attention is fixed on it,…
The Managing Director of Nigeria Health Watch, Mrs Vivianne Ihekweazu, has said that the digital transformation of health communication is reshaping how people access and trust medical information. She made the remark during a panel discussion at the World Health Summit (WHS) Regional Meeting 2026, which opened via webinar on Monday in Nairobi, Kenya. The session, themed “Trust in Science in the Age of Digital Health”, focused on how digital health, artificial intelligence, and technological innovations are transforming global health systems. The panel was convened by the Nature Medicine Commission on Quality Health Information for All, in partnership with Aga…
Residents of the Federal Capital Territory (FCT) have expressed mixed reactions to childhood immunisation, even as experts continue to stress its importance in preventing diseases such as measles, polio, and tuberculosis. The residents shared their views in separate interviews on Monday in Abuja, as part of activities to mark World Immunisation Week. The 2026 theme for the week is “For every generation, vaccines work.” Nigeria has one of the highest numbers of zero-dose children globally, according to UNICEF and the World Health Organisation (WHO). Zero-dose children are those who have never received any routine vaccine, with recent estimates putting the…
The First Lady, Senator Oluremi Tinubu, on Monday inaugurated a newly constructed nursing quarters and two mega primary schools in Maiduguri, built by Borno State Governor Babagana Zulum. Tinubu also launched the North-East National Community Food Bank Programme, an initiative conceived by her office to combat hunger and malnutrition across the country. The nursing quarters, located beside the State Specialist Hospital, consist of eight blocks of six flats each. The units are fully furnished and equipped with air-conditioning for the comfort of health workers. The First Lady also commissioned two mega primary schools — Aliyakeri and Abbaganaram Primary Schools. Each…
The World Health Organisation (WHO) has successfully concluded Exercise Polaris II, a two-day simulation exercise on a fictional bacterial outbreak spreading globally. The organisation disclosed this on its website on Monday. According to WHO, 26 countries, 600 emergency experts, and over 25 partners participated in the exercise, which took place on April 22 and 23. The simulation enabled participating countries to test their pandemic preparedness, including activating emergency workforce structures, improving information flow, and coordinating responses with partners and WHO. Building on Polaris I held in April 2025, which focused on a fictional virus, this year’s exercise was conducted under…
The U.S. dollar weakened on Monday as evolving geopolitical signals from the Middle East reduced safe-haven demand, with investors positioning ahead of key central bank meetings later this week. The cautious market sentiment reflects uncertainty around global growth, oil supply risks, and the monetary policy direction of advanced economies. Reports of renewed diplomatic engagement around the Strait of Hormuz—a critical corridor for roughly one-fifth of global oil and gas shipments—helped ease immediate risk concerns, prompting a mild retreat in the dollar. The dollar index, which tracks the greenback against six major currencies, fell by 0.3 per cent to 98.32, reflecting…