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Naira Appreciates Against Dollar At Black Market Amid Sallah Holiday

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The Naira appreciated marginally to N1480 against the dollar at the parallel foreign exchange market, also known as the black market, amid the Sallah holidays.

Dayyabu Ashiru, a bureau de change operator at Wuse Zone 4 in Abuja, disclosed this to DAILY POST on Tuesday.

He noted that demand for foreign exchange had remained flat due to the Eid-el-Kabir holiday.

According to him, the Naira was exchanged at N1,480 against the dollar on Tuesday compared between N1,490 to N1500 it was traded last Friday before the holiday.

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“We buy at N1,460 against the dollar and sell at N1,480. This is an appreciation compared to the N1,490 to N1,500 it traded last week Friday. I think demand for FX dropped due to the Sallah celebration,” he said.

The development comes as the Nigeria government declared Monday and Tuesday public holidays to mark the Sallah celebration.

Consequently, official FX trading is expected to resume on Wednesday.

Last week Friday, FMDQ data showed that the Naira closed at N1482.72 against the dollar at the official market.

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The continued fluctuations of the Naira in the FX market had been a source of concern to financial experts.

Director of the Centre for the Promotion of Private Enterprise, Muda Yusuf, said the fluctuation of the Naira against the dollar is a contributing factor to Nigeria’s soaring inflation, which rose to 33.95 per cent in May 2024.

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Port Harcourt refinery: NNPCL disowns recruitment notice

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The Nigerian National Petroleum Company Limited (NNPCL) has disclaimed a purported recruitment announcement for the Port Harcourt Refining Company (PHRC), warning the public against falling victim to fraudulent schemes.

In a statement released on its official X handle (formerly Twitter) on Friday evening, the oil company clarified that no separate recruitment process was ongoing for PHRC beyond the one initiated in 2024.

The statement, titled “NNPC Ltd Disclaims Purported Recruitment Announcement for PHRC,” was signed by the Chief Corporate Communications Officer, Olufemi Soneye.

“The Nigerian National Petroleum Company Limited (NNPC Ltd) has urged members of the public to discountenance purported recruitment announcement for the Port Harcourt Refining Company (PHRC) circulating in certain online platforms,” the statement read.

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NNPC Ltd further explained that its recruitment process, which commenced last year, covered all its subsidiaries, including PHRC. The company noted that candidates who passed the Computer-Based Aptitude Test were proceeding to the interview stage.

“The purported recruitment link being circulated in various online platforms is the handiwork of fraudsters who are keen on taking advantage of the newly revamped Port Harcourt Refinery to fleece unsuspecting members of the public with a phantom recruitment announcement. We, therefore, call on members of the public to be wary of the ploy and not fall for it,” the statement warned.

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Hajj 2023 refund: Pilgrims from Adamawa get N61,080 each

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The Adamawa State Muslims Pilgrims Welfare Commission has disbursed N61,080 to each of the 2023 pilgrims from the state over poor services rendered to them by the service providers while in Saudi Arabia.

The executive secretary of the pilgrims commission, Malam Abubakar Salihu, disbursed the refunded money, saying it was a step of accountability.

The disbursement was paid into the account of the pilgrims or, for those without account numbers, through the local government schedule officers of the 21 local governments of the state.

Responding on behalf of the beneficiaries, Alhaji Shuaibu Musa Mele appreciated the commission for ensuring that each pilgrim gets his rightful refund.

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The Kingdom of Saudi Arabia had earlier refunded money through the National Hajj Commission of Nigeria, for sharing among the 36 states of the country.

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Security operatives destroy Bello Turji’s food storage facility

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A school building in Fakai village, reportedly used as a food storage facility by the notorious bandit leader Bello Turji, has been destroyed.

The facility, which had been stocked with large quantities of food supplies, was completely razed, leaving the structure in ruins.

According to local sources, the school was repurposed by the bandits to support their operations in the region.

It served as a key logistical hub for storing essential supplies, ensuring the group’s ability to sustain its activities over time.

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The destruction of the stockpile is seen as a major setback for Bello Turji’s network. By eliminating a critical resource hub, the operation is expected to disrupt the group’s supply chain and hinder their ability to operate effectively in the area.

Counter-terrorism expert Zagazola Makama reported that the incident underscores ongoing efforts to counter the influence and operations of bandit groups in the region.

Residents of Fakai village and surrounding areas hope this effort signals further strides toward restoring peace and security.

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