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Naira slumps in parallel market
The Naira experienced a slight depreciation yesterday, slipping to N1,740 per dollar in the parallel market compared to its previous rate of N1,735 per dollar on Tuesday.
According to data from FMDQ, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market (NAFEM) strengthened, rising to N1,645.4 per dollar from Tuesday’s rate of N1,689.88 per dollar. This marks an appreciation of N44.48 for the Naira.
The market also saw a significant increase in dollar trading activity, with turnover climbing by 122.5 percent to reach $236.84 million, up from $106.44 million the previous day.
As a result, the gap between the parallel market and the NAFEM exchange rate widened, now standing at N94.6 per dollar, up from N45.12 per dollar recorded on Tuesday.
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Core Public Servants hail Tinubu for appointing thoroughbred Procurement officer, Adedokun as BPP DG
A group under the aegis of Core Public Servants, CPS hail President Bola Tinubu for appointing Dr Adebowale Adedokun, a thoroughbred Procurement officer as the Director General of Bureau of Public Procurement, BPP.
CPS in a congratulatory letter signed by Kudirat Akindero to Adedokun lauded President Tinubu for following due process and picking the most qualified to run the affairs of the soecialised agency.
In the letter, the ADSC said:
“Congratulations to Dr. Adebowale Adedokun, PhD (MCIPS, CMILT), on his appointment as the Director-General/Chief Executive Officer of the Bureau of Public Procurement (BPP).
“This significant achievement reflects his extensive expertise and unwavering dedication to advancing public procurement in Nigeria.
“With over 20 years of robust experience in public service, Dr. Adedokun has made substantial contributions to procurement reform.
“His distinguished academic background includes a doctorate in Procurement and Supply Chain Management, complemented by four master’s degrees in Procurement, Finance, Technology, and Transportation Management.
” This diverse educational foundation equips him with a comprehensive understanding of the complexities inherent in procurement processes.
“In his career, Dr. Adedokun has held pivotal roles, including serving as a National Consultant for the United Nations Development Programme (UNDP) on public procurement reforms.
“He represents Nigeria in the International Research Study on Public Procurement (IRSPP) and serves as a World Bank Resource Person on Sustainable Procurement. His commitment to capacity building is evident in his training of over 4,000 federal and state government procurement professionals nationwide.
” Additionally, he has been instrumental as the focal point officer for the UN Women Project aimed at empowering women in procurement in Nigeria and as the Project Coordinator/Procurement Node for the SPESSE – World Bank Project.
“Dr. Adedokun’s professional affiliations are extensive, including membership in the Chartered Institute of Procurement & Supply (CIPS), UK; Chartered Membership in the Chartered Institute of Logistics & Transport (CILT); Fellowship in the Institute of Strategic Management Nigeria (ISMN); Fellowship in the Institute of Management Consultants (ICMC), Nigeria; membership in the Nigerian Institute of Chartered Arbitrators (ACArb); Fellowship in the Nigeria Institute of Training & Development (NITAD); membership in the Nigeria Institute of Management (NIM); and membership in the Association of Certified Fraud Examiners (ACFE).
In recognition of his consistent contributions to reform, Dr. Adedokun was honored with a Certificate of Special Recognition by USAID’s Nigerian Reforms Project in July 2009.
As he assumes the role of Director-General of the BPP, Dr. Adedokun’s extensive knowledge and experience are anticipated to significantly contribute to the agency’s strategic repositioning.
” His leadership is expected to advance efficiency, transparency, and accountability within Nigeria’s public procurement system.
Once again, congratulations to Dr. Adebowale Adedokun on this well-deserved appointment.
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