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Naira Plunges to N1,825 Against Dollar Despite EFCC’s Intervention

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Tuesday, the naira dipped further, trading at N1,825 to a dollar, despite efforts by the Economic Financial Crimes Commission (EFCC) to disrupt the activities of perceived manipulators and speculators.

On Monday, it was reported how the anti-graft agency raided the well-known Abuja Zone 4 market, shooting at Bureau De Change operators to stop the naira’s rapid decline.

But, less than 24 hours after EFCC raided BDC operators in Abuja, the naira continued its rapid decline, dipping from N1,700 against the dollar to N1,825 to a dollar 24 hours later.

This came as the naira hit an all-time low against the dollar and pound sterling in Nigeria’s history, despite efforts by the Central Bank of Nigeria to salvage the free fall of the naira.

Though the naira had been on a downward trend against the dollar before Mr Tinubu assumed office last May, the naira’s freefall accelerated following the floating of the currency.

In September, the naira exchanged at N1,000 to one dollar at the parallel market. This historic dip spotlighted the weakness of Mr Tinubu’s efforts to manage the national currency amid runaway inflation.

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In July, the Association of Nigerian Licensed Customs Agents (ANLCA) complained that floating the nation’s currency had caused a drop in vehicle importation in the nation’s ports.

The currency fell to N1,520.123 to a dollar on January 31, according to Naira Rates.

This is against the currency’s depreciation to N1,482.75 per dollar recorded in the official foreign exchange market on January 30, amounting to a N38 depreciation for the naira under 24 hours.

The fall made it the first time after the COVID-19 pandemic that the official exchange rate was higher than the parallel market exchange rate, which traded at N1,470 per dollar from N1,425 on January 29.

The monetary policy of President Bola Tinubu’s government played a huge role in the further downward slide of the naira after he floated the currency.

Mr Tinubu’s economic policy scrapping fuel subsidy and collapsing multiple foreign exchange windows into the single Importer and Exporter, or I&E window, drastically depreciated the naira’s value by 98 per cent, a report by the Price Water Coopers stated.

The top global business advisory audit firm said in its report ‘Nigeria’s Economic Outlook: Seven Trends That Will Shape Nigerian Economy in 2024’ that Mr Tinubu implemented policies that had the domino effect of devaluing the naira by nearly 100 per cent but appealed to foreign investors as the move was projected to improve the economy in 2024.

On September 26, the naira witnessed an unprecedented historical low, dipping to N1000 against the U.S. dollar. Since then, the currency has lost 17 per cent of its value.

The persistent decline of the naira is a source of concern and a spotlight on the challenges associated with President Bola Tinubu’s fiscal policies.

Despite the far-reaching consequences, including inflation and diminished economic purchasing power, Mr Tinubu has undertaken what his cabinet refers to as strategic moves, such as the petrol subsidy removal, which was met with resistance and scepticism but reflects an attempt to reduce the government’s financial burden and promote a more market-driven economy as well as the decision to adopt a clean float foreign.

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SEMA Assesses Sites of Building Collapses, Condoles Families of Nine Victims

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The Executive Secretary of the Kano State Emergency Management Agency (SEMA), Alhaji Isyaku Abdullahi Kubarachi, accompanied by directors of the Agency, has visited the scenes of recent building collapses within Kano metropolis and condoled with families who lost loved ones in the incidents.

During the visit, the SEMA team inspected the site of the collapsed Khadija Bala Memorisation School, located at No. 1030, Police Station Road, Fagge Local Government Area, where one female student lost her life while eight others were rescued following the collapse of the Islamic school.

The team also visited Dukawa, Gobirawa area of Dala Local Government Area, where the residence of Malam Mutari Abdulhamidu collapsed, resulting in the death of his four children.

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Similarly, at Gaida, four people reportedly lost their lives following the collapse of a residential building.

The Executive Secretary, alongside a representative of the National Emergency Management Agency (NEMA), expressed deep sympathy and condolences to the bereaved families, praying for the repose of the souls of those who lost their lives and wishing the survivors a speedy recovery.

Alhaji Isyaku Abdullahi Kubarachi urged members of the public to strictly adhere to approved building regulations and safety standards, particularly during periods of heavy rainfall, when building structures may become more vulnerable to collapse.

In a statement, SEMA spokesperson Jamil Sagir Danbala said the Executive Secretary further called on property owners, developers and residents to avoid compromising building standards and to promptly report any signs of structural weakness to the relevant authorities.

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UNICEF Hands Over Renovated Diso Ward Primary Healthcare Centre to Kano State

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The United Nations Children’s Fund (UNICEF) has handed over the newly renovated and upgraded Diso Ward Primary Healthcare Centre (PHC) to the Kano State Government as part of efforts to strengthen primary healthcare delivery and improve access to essential health services at the grassroots.

The upgraded facility was formally handed over to the Kano State Primary Healthcare Management Agency (KSPHCMA) during a ceremony attended by health officials, community representatives and other stakeholders.

Speaking at the handover ceremony, UNICEF representative Shafiqurrahman said the organisation remained committed to supporting Kano State in ensuring that primary healthcare facilities were not only upgraded but also capable of providing sustainable and quality services to the communities they serve.

Shafiqurrahman said UNICEF was working closely with relevant stakeholders to ensure effective service delivery at the facilities it supports.

“We are here closely to ensure service delivery,” he said.

According to him, UNICEF, in collaboration with the Global Fund, is currently working with five health facilities, with the Diso Ward PHC becoming the first of the facilities under the programme to be formally handed over to the state government.

He explained that the intervention went beyond the renovation of the existing structure, noting that the facility had also benefited from the installation of a solarisation system to help provide a more reliable source of electricity for healthcare operations.

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The UNICEF representative said the upgrade of the facility included the establishment of a new ward, labour room and pharmacy, as well as facilities designed to improve access for physically challenged persons.

He stressed that UNICEF placed strong emphasis on primary healthcare because PHCs are the closest healthcare facilities to most communities and often serve as the first point of contact between citizens and the health system.

“We put great emphasis on PHC because it is close to the people,” he said.

Shafiqurrahman, however, cautioned that renovating and equipping a healthcare facility was only one part of the process, stressing that maintaining the facility and ensuring continuous service delivery were equally important.

“Building is one thing and services is another thing. It is a continuous service for the people,” he said.

He called for a strong commitment to the sustainability of the facility, including regular supervision, proper maintenance and effective management of the equipment and infrastructure provided.

According to him, the objective of the intervention was to ensure that the people of Diso and surrounding communities continued to benefit from the facility for a long time.

“We want sustainability and longer services, including supervision and maintenance,” he added.

Receiving the upgraded facility on behalf of the Kano State Primary Healthcare Management Agency, the agency’s Director of Administration, Adamu Pate Jigaware, commended UNICEF for its support and intervention in strengthening healthcare delivery in the state.

Jigaware, who represented the Director of the Kano State Primary Healthcare Management Agency, expressed appreciation to UNICEF and other partners involved in the project, saying the intervention would contribute to improving healthcare services for residents of the area.

He also commended the contractor who executed the renovation and upgrade works, particularly for working in collaboration with the World Development Committee during the implementation of the project.

He said the involvement of relevant community structures was important in ensuring ownership of the facility and supporting its sustainability.

The handover marks another step in efforts by development partners and the Kano State Government to strengthen primary healthcare infrastructure and improve access to essential health services at the community level.

 

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Nigerian Army’s 1 Div commences Inter-Brigade Combat Competition in Kano

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The Nigerian Army has commenced the 2026 1 Division Inter-Brigade Combat Proficiency Competition in Kano to assess and enhance the operational readiness, physical fitness and combat capabilities of its officers.

Declaring the competition open, the General Officer Commanding (GOC), 1 Division Nigerian Army, Maj.-Gen. Abubakar Mohammed-Wase, said the annual exercise was designed to sharpen troops’ skills and improve their capacity to respond to emerging security challenges.

Represented by Chief of Staff, 1 Division, Brig.-Gen. Timothy Opurum, said the competition was in line with the Chief of Army Staff’s Command Philosophy of transforming the Nigerian Army into a more professional, adaptable, combat-ready and resilient force capable of discharging its constitutional responsibilities within a joint and multi-agency environment.

The GOC added that the exercise would provide an opportunity for officers from participating formations to demonstrate their proficiency in physical fitness, leadership, tactical competence, mental alertness and ability to operate effectively under pressure.

According to him, the competition involves three formations under the division, including 1 Division Garrison, 3 Brigade and 31 Artillery Brigade, competing in four events.

The events are weapon handling and combat shooting, map reading, endurance run and obstacle crossing, as well as combat swimming.

“The competition is aimed at improving leadership skills, organisational ability and initiative, while promoting esprit de corps among troops in preparation for enhanced performance in battle,” he said.

The GOC noted that the nation’s current security environment required commanders who were not only professionally competent but also physically and mentally prepared to confront complex operational challenges.

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He described the competition as a vital platform for improving the resilience and combat proficiency required by officers in carrying out their constitutional responsibilities.

Mohammed -Wase urged participating formations to uphold the values of loyalty, discipline and integrity, adding that the objective of the exercise was beyond winning but to improve individual and collective operational capabilities.

“To the participating officers, I encourage you to see this competition as an opportunity to test yourselves, learn from one another and identify areas requiring further improvement,” he said.

He commended troops operating in various theatres for their efforts in ensuring peace and stability in the country, attributing improvements in operational capacity to effective leadership, sound planning and logistics support.

The GOC also appreciated the Chief of Army Staff, Lt.-Gen. Waidi Shaibu, for providing resources and support for the competition, as well as the Commander, 3 Brigade, for providing facilities and logistics assistance.

He urged umpires and officials to ensure fairness, impartiality and professionalism throughout the competition.

Earlier, Commander, 3 Brigade, Nigerian Army, Brig.-Gen. Saka Jimoh, said the competition was designed to test the competence, confidence and ability of officers to perform effectively under challenging operational conditions.

According to him, the exercise would also strengthen leadership, teamwork, discipline and professionalism among participating personnel.

“The Inter-Brigade Combat Proficiency Competition is a significant professional activity designed to assess, strengthen and sustain the physical fitness, mental alertness, combat skills and operational effectiveness of participating officers.

“It provides an opportunity for officers to demonstrate their competence, confidence and ability to perform optimally under demanding and challenging conditions,” he said.

He said the activities were carefully selected to test individual competence and the ability of officers to operate effectively under pressure.

Jimoh appreciated the GOC for providing strategic guidance and support towards the successful hosting of the event.

He said the support demonstrated the commitment of the command to sustaining professional competence and operational readiness across the division.

“I sincerely appreciate the resources and other necessary support made available for this event. This gesture has significantly enhanced the Brigade’s ability to organise and host the competition,” he said.

He expressed optimism that the exercise would further enhance collective combat proficiency, teamwork and operational effectiveness among officers of the division.

3 Brigade, Nigerian Army, won the Stripping and Assembling Competition, while 31 Artillery Brigade, Minna, Nigerian Army, emerged second and 1 Division Garrison, Kaduna, came third.

The competition involving officers from the rank of 2nd Lieutenant to Major, will end in Aug. 20.

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