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Boko Haram: UN, others meet over 10 years insurgency in Nigeria

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The United Nations, international and local NGOs and representatives of the Nigerian government Thursday morning at the UN House in Abuja met to mark the tenth year of the Boko Haram crisis in north-east Nigeria.

In attendance were Governor of Yobe, Mai Mala Buni, Chairman of the North East Development Commission, Paul Tarfa, Director General of the National Emergency Management Agency (NEMA), Mutapha Maihaja, among others.

The humanitarian community emphasised the immense humanitarian needs caused by the crisis and the necessity to continue scaling up life-saving assistance.

They reiterated their commitment to alleviate the suffering of the most vulnerable in Borno, Adamawa and Yobe states.

They also reaffirmed their commitment to work together to help people not only survive but also rebuild their lives and their communities.

“The crisis that started ten years ago is still far from over,” stressed Mr. Edward Kallon, United Nations Humanitarian Coordinator in Nigeria.

“We are here today to remember those who have lost their lives in the conflict, and to remind of those still struggling to survive and rebuild their lives.

“Ten years on, it is not the time for us to spare any effort. In this very critical period, we must collectively redouble efforts, with support at all levels – locally, nationally and internationally.”

Over the last decade, the conflict has claimed the lives of some 27,000 civilians and devastated entire communities, villages and towns across the three most-affected states.

“We have to pay attention to the needs and rights of people, especially those of women and children, and support local organisations to play a more visible role in the response.

“The protracted crisis in the north-east is of matter to the entire country. We don’t want this crisis to last another 10 years,” said Ms. Josephine Habba, President of the Nigeria NGO Network on Humanitarian Development Initiative (NINGONET).

Nigeria’s humanitarian crisis remains among one of the most severe in the world with 7.1 million people in need of life-saving assistance and 1.8 million people uprooted from their homes – the vast majority of them women and children.

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Economy

Naira Makes More Recovery, Sells at N1,453/$1

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The Naira continued its appreciation at the official market on Thursday, March 21, 2024 to close at N1,453.28/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This represents an appreciation of N39.33 when compared to the N1,492.61/$1 it closed on Wednesday, March 20, 2024.

The intraday high was N1,598/$1, while the intraday low was N1,300/$1, representing a wide spread of N298/$1.

Similarly, the Naira appreciated against the dollar at the parallel window to trade at N1,500/$1, this represents an appreciation of N20.00 as against the N1,520 /$1 it traded the previous day.

The Naira also appreciated slightly against the British Pound to trade at N2,000/£1 as against the previous trading day’s price of N2,020/£1 representing a gain of N20 for the local currency.

The Canadian dollar, however, closed flat against the naira to trade at N1,270/CA$1 same as the N1,270/CA$1 it traded the previous day representing a decline of N20 in the local currency.

The Naira gained N30 against the Euro to trade at N1,670/€1 as against the previous closing price of N1,700/€1.

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Economy

Naira Gains Against Dollar, Trades at N1,603/$1

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The Naira, Tuesday continued its recovery against the American dollar as it traded at N1,603.38/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window has shown.

This represents a gain of N15.48 when compared to the N1,617.96/$1 it closed on, on Monday, March 11, 2024.

The intraday high was N1,637/$1, while the intraday low was N1,425.35/$1, representing a lean spread of N211.65/$1.

Meanwhile, the Naira gained N12 against the dollar at the parallel market as the local currency appreciated to N1,603/$1 as against the N1,615 /$1 it traded the previous day. As it stands, the naira is trading at the same rate at both official and parallel windows.

The Naira, however, slumped against the British Pound to trade at N2,050/£1 as against the previous trading day’s price of N2,030/£1 representing a loss of N20 for the local currency.

After about two weeks of closing flat against the Canadian dollar, the naira slumped massively to trade at N1,300/CA$1 on Tuesday, representing a decline of N150 when compared to the N1,150/CA$1 it traded the previous day.

The Naira lost N35 against the Euro to trade at N1,740/€1 as against the previous closing price of N1,705/€1 representing a loss of N35 for the local currency.

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Economy

Binance to Close Shop in Nigeria, Stops Transaction, Trading in Naira

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By Reuters – Binance will stop all transactions and trading in Nigeria’s local currency after March 8 amid a country-wide crackdown on crypto exchanges that have been blamed by authorities for feeding a black market for foreign exchange.

It will stop supporting withdrawals after Friday and any remaining balances in Nigerian Naira will be automatically converted into Tether – a stablecoin whose value is pegged to the U.S. dollar.

Last week, Nigerian authorities detained two Binance senior executives on undisclosed charges as part of the crackdown.

They were still in custody, their local lawyer said before a parliamentary committee on Monday.

Source: Reuters

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