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BREAKING: Naira plummets to all-time low of 543 against dollar

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NAIRA, DOLLAR,

 

The naira on Thursday continued its downward spiral on the parallel market, selling for N543 to the dollar.

While bureau de change operators in Abuja bought dollar at N540, it was sold for N543.

The British Pound was also sold for £1/N740.

Recall that the Central Bank of Nigeria barred sale of Forex to all bureau de change operators across the country over one month ago.

On June 27, 2021, the CBN ended the sales of Forex to BDCs saying the parallel market had become a conduit for illicit Forex flows and graft.

The CBN said it would also no longer process applications for BDC licences in the country.

Weekly sales of foreign exchange by the CBN will henceforth go directly to commercial banks, the CBN governor, Godwin Emefiele, said.

The Committee of Banks Chief Executive Officer headed by the CEO of Access Bank, Herbert Wigwe, had stated on July 29 that the exchange rate would drop to around N423 to the dollar on the parallel market.

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Similarly, on August 9, 2021, the Managing Director of Financial Derivatives Company Limited, Mr Bismarck Rewane, said the naira would rise in the parallel market towards 490-495 against the dollar in August/September.

The PUNCH, however, reports that since the CBN’s latest Forex policy began in late June, the highest the naira has reached on the parallel market is N504/$1.

 

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Anxiety grows in Iran amid search for location of president’s helicopter 

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Search teams have yet to find the missing helicopter with Iranian President Ebrahim Raisi aboard.

 

The chopper, which also had Hossein Amirabdollahian, foreign minister; Malek Rahmati, governor of East Azarbaijan province; and Hojjatoleslam Al Hashem, Tabriz Friday prayer leader, on board, crash-landed Sunday afternoon in the Varzaqan region.

 

Over 20 search and relief teams were immediately dispatched to the area to find the missing helicopter, including drones and sniffer dogs.

 

The Iranian armed forces have also deployed commando units and special forces to assist in the search operation. However, foggy weather and the impassability of the area have frustrated efforts.

 

Babak Yektaparast, the spokesperson for Iran’s emergency services, said an emergency helicopter was dispatched to assist but was forced to turn back due to the heavy fog as it could not land in the area.

 

“Unfortunately, continuing aerial operations was no longer possible due to intense fog across the region,” he said, adding that more ambulances were dispatched.

READ  Gunmen attacks on police continue, kill two officers

 

Ayatollah Khamenei, Iran’s supreme leader, urged citizens to pray for the president and everyone aboard the chopper.

 

“The  Iranian nation must not be concerned or worried; there will be no disruption in the work of the country,” Khamenei said.

 

Iraq and Armenia, both neighbouring countries, have offered support in locating Raisi.

 

The US said it is watching reports and added that President Joe Biden has been briefed.

 

 

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DR Congo army foils ‘coup attempt’

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The Democratic Republic of Congo (DRC) army says it has repelled an attempted coup d’etat.

 

The army said Congolese and foreign fighters were involved in the coup which was reportedly thwarted on Sunday morning.

 

Sylvain Ekenge, the DRC army spokesperson, spoke in a televised address on the state-run RTNC TV.

 

“An attempted coup d’etat has been put down by the defence and security forces. The attempt involved foreigners and Congolese. These foreigners and Congolese have been put out of action, including their leader,” Ekenge said.

 

Ekenge said several suspects have been detained and the “situation is now under control”.

 

The army spokesperson did not give further information about the incident.

 

His statement comes hours after armed men attacked the house of Vital Kamerhe, former chief of staff and close ally of President Felix Tshisekedi.

 

Kamerhe’s residence is about two kilometres from the presidential palace.

READ  CBN devalues Naira

 

Michel Muhima, Kamerhe’s spokesperson, had said the gunmen clad in military uniform engaged the politician’s guards in a shootout, leaving three people dead.

 

Muhima said two of the deceased were police officers attached to Kamerhe while the other was one of the attackers.

 

The unrest in the country comes amid a dispute in the ruling party over the postponement of an election for the leadership of the country’s national assembly.

 

President Tshisekedi met with parliamentarians and party leaders on Friday in a bid to resolve the crisis.

 

Tshisekedi was reelected as president in December 2023.

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20 rescue teams and drones sent to Iranian president helicopter crash site

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Twenty rescue teams and drones have been sent to the area where a helicopter carrying Iranian President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian crashed on Sunday, according to Iranian state news agency IRNA.

 

The pair, along with a group of dignitaries, were aboard the helicopter returning from a ceremony for an opening of a dam on Iran’s border with Azerbaijan when the aircraft “crashed upon landing in Varzaqan region on Sunday,” IRNA English reported.

 

“20 rescue teams and drones have been sent to the area, but due to the impassability of the area, its mountainous and forest conditions, as well as unfavorable weather conditions, especially heavy fog, the search and rescue operation will take time,” IRNA said.

IRNA also reported, citing locals, that the helicopter crashed in the Dizmar Forest area between the villages of Ozi and Pir Davood. Residents said they heard noises from the area, it added.

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Iran’s interior minister Ahmad Vahidi said one of the helicopters in a convoy was forced to make a hard landing due to foggy weather conditions.

 

“Now different rescue groups are moving toward the area, but given that it is foggy and the unsuitable weather and the conditions, it may take some time until they reach where the helicopter is,” said Vahidi during a televised address posted on Telegram by IRNA.

 

He added that there had been some contact with the passengers on the helicopter, but did not have further details.

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