Dollar to Naira Exchange Rate news on Daily News 24
Good morning! Here is today’s summary from Daily News 24. Stay informed with the top headlines shaping Nigeria, including plans to boost defence spending, sanctions against major banks, a daring river plunge during a kidnap attempt, and alarming road safety incidents. Plus, updates on political shifts, economic developments, and collaborative efforts to enhance telecom regulation.
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- House of Representatives to boost Ministry of Defence budget for 2025
The House of Representatives Committee on Defence has pledged to increase the Ministry of Defence’s 2025 budget allocation beyond the initial N50 billion. This decision followed a motion by lawmaker Philip Agbese, who praised the military’s ongoing efforts to combat insecurity. The announcement came during Minister Bello Matawalle’s budget defence session.
- CBN fines nine banks N1.35 billion over ATM cash shortages
The Central Bank of Nigeria has penalized nine Deposit Money Banks a total of N1.35 billion for failing to ensure adequate cash availability in ATMs during the yuletide season. The affected banks include Fidelity Bank, Zenith Bank, and UBA. The sanctions aim to reinforce compliance with cash distribution regulations.
- Hilux van plunges into Rivers State river during kidnap attempt
A Hilux van carrying two workers, including an expatriate, crashed into the Okulu River in Rivers State while attempting to evade kidnappers. The incident occurred on the Eleme section of the East-West Road. Local authorities are investigating the accident.
- FCCPC, NCC sign MoU to improve telecom regulation
The Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC) have signed a Memorandum of Understanding to close regulatory gaps in the telecom sector. FCCPC CEO Tunji Bello described the collaboration as a win for both operators and consumers.
- National Assembly demands budget compliance from revenue agencies
Revenue-generating agencies have been given a 48-hour ultimatum by the National Assembly Joint Committee on Finance to present their budget reports or risk being cut off from 2025 government funding. The committee expressed frustration over their non-compliance with budget defence invitations.
- Naira depreciates further in parallel market, trades at N1,660 per dollar
The Naira weakened in the parallel market, trading at N1,660 per dollar, down from N1,655 the previous day. However, in the Nigerian Foreign Exchange Market (NFEM), the Naira appreciated slightly to N1,549 per dollar. The fluctuating rates reflect ongoing economic pressures.
- Customs records N35.29 billion in seizures in 2024
The Nigeria Customs Service reported a record 3,555 seizures in 2024, with the Duty Paid Value surging by over 100% to N35.29 billion. Comptroller-General Adewale Adeniyi attributed the success to enhanced enforcement measures during his briefing in Abuja.
- Former Sokoto governor Bafarawa resigns from PDP
Ex-Governor of Sokoto State, Attahiru Bafarawa, has resigned from the Peoples Democratic Party (PDP). In a letter addressed to the party’s acting National Chairman, Bafarawa cited personal reasons for his departure. His exit marks another significant shift in Nigeria’s political landscape.
- House of Representatives to investigate hepatitis spread in Nigeria
The House of Representatives has launched an inquiry into the growing prevalence of hepatitis in Nigeria. The decision followed a motion by Rep. Kwamoti Laori, who emphasized the need for increased public awareness and government action to curb the virus.
- Six dead, 60 injured in Kogi road crash
An articulated vehicle accident in Kogi claimed six lives and injured 60 others. The Federal Road Safety Corps attributed the tragedy to excessive speeding. Emergency responders provided immediate assistance to the victims, while investigations are ongoing.
