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BDCs now buying dollar at ₦‎980 — ABCON President

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The Association of Bureau De Change Operators of Nigeria (ABCON) said the Bureau De Change (BDC) operators were buying dollars at N980/$ at the open market and selling at N1,020/$.

 

This was confirmed by the President of ABCON, Aminu Gwadebe, while featuring on a Channels Television programme, Business Incorporated, where he stated that the naira has appreciated faster than expected against the United States Dollar.

 

Gwadebe applauded the government and the Central Bank of Nigeria for its efforts so far, saying it’s the first time in the last 15 years that the exchange rate for the dollar in the parallel market is less than that at the official window.

He acknowledged that there is now calmness in the market as speculation which has been one of the major destabilisation factors is no longer there.

‘’There is a lot of confidence, we have seen how the central bank treasury bills have been oversubscribed and we have seen how they have also corrected the flows of diaspora remittances. Now we are having a chunk of diaspora remittances coming in because of the so many policies of the central bank that tried to calibrate how the inflows should be coming in even though there is a lot of gaps that is not coming that is still externalised in the diaspora window.’’

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Breaking news: Minimum Wage: Labour rejects FG’s N54,000 offer

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The organised labour has rejected the Federal Government N54,000 new minimum wage proposal.

 

According to reliable source, the meeting on the ongoing negotiations on new minimum wage has been adjourned till Wednesday after the organised labour.

 

Media report has it that the Federal Government upped its offer from its earlier proposed N48,000 to N54,000.

Tuesday’s meeting came as a result of the walkout staged by members of the organised labour following the proposal of N48,000 as minimum wage by the Federal Government during last week’s meeting.

During that meeting, the OPS had also proposed N54,000 while labour insisted on its N615,000 living wage demand.

Our correspondent who spoke to sources who attended the follow-up meeting on Tuesday learnt that the Federal Government upped its offer from N48,000 to N54,000.

“Well, during the meeting, the government increased its offer from N48,000 to N54,000. However, labour rejected that offer and the meeting has been adjourned till Wednesday,” a source who asked not to be named said.

When asked if the government’s side was showing any sign of seriousness, the labour leader said, “No seriousness at all. Even state governors did not show up. Those who represented them, like Bauchi and Niger states, did not have the mandates to speak on their behalf.

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Junior Pope betrayed me repeatedly – Yul Edochie

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Nollywood actor Yul Edochie has claimed that his late colleague, Junior Pope, betrayed him repeatedly despite his being there for him in his times of need.

 

According to Edochie, it was the reason he shunned the late actor’s burial in Enugu State on Friday.

 

He said he wanted to wait till after Junior Pope’s burial before he reveal how the late actor betrayed him.

He promised the full story of how Junior Pope betrayed him soon.

On his Instagram story, Edochie wrote: “I didn’t want to say anything till after his burial. I know many asked why I wasn’t there. Why I haven’t said anything about it since.

“I took him like a brother & good friend. I was there for him when he needed me. But he stabbed me in the back repeatedly. That’s life!

“I’ll drop the full details soon so others can learn from it.

“Be careful what you wish people, it could come to you.”

Recall that Junior Pope died on April 10, 2024, alongside three others after their boat capsized on the Anam River in Anambra State while returning from a film location.

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