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Naira Bounces Against US Dollar as Trading Resumes to N1353.21 Per Dollar

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By Kayode Sanni-Arewa

As trading resumed on Monday, the Nigerian naira experienced a significant appreciation against the US dollar in the foreign exchange market.

Data from FMDQ revealed that the naira strengthened to N1353.21 per dollar, marking a substantial gain from its previous rate of N1,400.4 on Friday. This represents a notable increase of N46.83 compared to Friday’s exchange rate.

Similarly, in the parallel market, the naira saw an improvement of N20 against the dollar, trading at N1400 per dollar compared to N1420 over the weekend.

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Despite the Central Bank of Nigeria’s intervention efforts, the naira has been subject to fluctuations in the foreign exchange market for several months. The apex bank has intervened on three occasions since March by supplying dollars to Bureau De Change operators to stabilize the naira.

The Nigerian government has attributed the naira’s volatility to peer-to-peer cryptocurrency activities. Consequently, on Monday, the Securities and Exchange Commission removed the naira from the cryptocurrency market.

In March, Binance, a prominent crypto platform, withdrew from the naira market due to regulatory pressures. Subsequently, in April, two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, were charged in Nigeria for tax evasion and financial fraud, with Anjarwalla currently at large.

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EMPOWERMENT! Senator Manu doles out N2.5m to support constituent’s fashion design business(Photos)

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Senator Manu Haruna of Taraba Central Senatorial District has made a significant impact on the life of a constituent by empowering him with over 2.5 million Naira to enhance his fashion design business.

This initiative aims to support local entrepreneurship and encourage vocational skills development within the community.

The delegation representing Senator Manu included Hon. Aruwa, the Taraba State Commissioner for Science and Technology, alongside Hon. Abubakar Baffa Nanu, Chairman of Gassol Local Government Council, and Alhaji Raubilu Umar, Hon. Ubale Gambo. They presented the cash to Falalu, who is commonly referred to as Sarkin Yakin Manu in a gathering held at the residence of Alhaji Raubilu Umar in Jalingo.

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Falalu Sarkin Yakin Manu expressed his heartfelt gratitude to Senator Manu for this generous support, highlighting how the funds will significantly boost his tailoring business and provide better services to the community.

This empowerment initiative reflects Senator Manu’s commitment to fostering skills development and economic growth in the Taraba Central Senatorial District.

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Citizenship for sale as Trump announces “Gold Card” Immigration Plan, $5M

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By Kayode Sanni-Arewa

President Donald Trump has announced a new immigration “Gold Card” that will be sold to immigrants for $5 million.

The Gold Card is a premium version of a Green Card, according to Trump, and will provide immigrants with a pathway to citizenship.

“We’re gonna be selling a gold card. You have a green card, this is a gold card. We’re gonna be putting a price on that card of about $5 million and that’s gonna give you green card privileges plus…”

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“It’s gonna be a route to citizenship. And wealthy people will be coming into our country by buying this card.”

“They’ll be wealthy and they’ll be successful and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people.”

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SAD! Lady Loses 3-Year-Old Son Hours After Allowing Father Take Him for Weekend Visit

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By Kayode Sanni-Arewa

A Nigerian lady has taken to social media to share the heart rending story of how she lost her three-year-old son hours after allowing his father to take him for the weekend.

The sad mother, who had single-handedly raised her son after being abandoned during pregnancy, expressed deep sorrow and regret over her decision to let his father back into their lives.

According to her, the child’s father had denied responsibility when she was pregnant and made no effort to be part of their son’s life until he returned from abroad, got married, and sought forgiveness. In an attempt to foster a relationship between father and son, she allowed him to take the boy for a weekend visit—an act she now deeply regrets.

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Tragically, less than nine hours after leaving with his father, the little boy drowned in a deep well. The devastated mother, who had just returned from work, was met with the shocking news that her only child was gone forever.

In a post, she poured out her grief, questioning why such a tragedy had befallen her innocent child.

“Junior was only 3; he didn’t deserve to leave this world so soon. God, why?” she lamented.

May the soul of the little boy rest in peace.

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