Naira Falls To N436/$ On Parallel Market As Dollar Scarcity Worsens

The naira fell to an all-time low of N436 to the dollar on the parallel market yesterday, as against N428 to the dollar from the previous day, as the perennial scarcity of the greenback in the market took a turn for the worse.

The effect of the dollar shortage was also felt on the interbank FX market where the spot rate of the naira also depreciated to N313.07 to the dollar Thursday, from N310.08 to a dollar the previous day.

This is just as Nigeria’s external reserves fell further to $24.759 billion as of September 21, 2016.
The situation on the parallel market was attributed to the refusal by banks to sell dollars to Bureau de Change (BDC) operators.

The President, Association of Bureau de Change Operators of Nigeria (ABCON), Mr. Aminu Gwadabe, said none of his members were able to access dollars from banks as directed by the Central Bank of Nigeria (CBN).

“As I speak to you, no BDC has been able to access FX since Monday. It is very unfortunate that the liquidity in the market has dried up. That is too bad for the market,” the ABCON boss said in a phone chat.

Read More: thisdaylive

Naira Falls Further To 414/Dollar

The naira fell to a new low of 414 against the United States dollar on Sunday amid the continued scarcity of foreign exchange in the country, with economic experts predicting further pressure in the forex market this week.

The development came five days after the Central Bank of Nigeria had banned nine commercial banks from the forex market for failing to remit the Nigerian National Petroleum Corporation’s $2.334bn into the Treasury Single Account in line with President Muhammadu Buhari’s directive last September.

The naira was sold for 414/dollar across some black market segments in Lagos and Abuja on Sunday. It hit an all-time low of 412 against the greenback at the parallel market on Friday, after closing at 409/dollar on Thursday.

On Wednesday, a day after the CBN banned the nine banks from the forex market, the local currency depreciated to 402/dollar, down from the 397 it closed against the greenback on Tuesday.

Forex dealers said the demand pressure on the dollar, mounted by summer travellers and parents paying schools fees of their children studying overseas, was exacerbated by the CBN’s forex ban on the nine lenders.

The currency dealers said the naira started falling after the CBN banned the lenders from forex transactions.

It first touched 400/dollar at the black market this month since the CBN floated the currency on the official interbank market in June.

At the interbank market, the naira closed at 314.95 on Friday, with traders saying interbank rates would ease this week when part of July’s budget allocation must have entered the banking system.

But experts said the naira would plunge further against the US dollar this week at the parallel market as forex supply remained a major challenge.

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Naira Falls To N390/$1 On Parallel Market, Rises On Interbank

The naira crashed to N390 to the dollar on the parallel market Wednesday, lower than the N382 to a dollar from the previous day.

A currency analyst, who preferred to remain anonymous, blamed the continuing slide of the nation’s currency on the parallel market to demand pressure.

According to him, demand for FX for most of the 41 items that had been excluded from the interbank market was still being met with dollars bought from the parallel market.

The source also attributed the development to the fact that banks that act as agents of international money transfer operators were yet to comply with a Central Bank of Nigeria (CBN) directive instructing them to sell foreign currency remittances to licensed bureau de change (BDC) operators.

On the interbank market, on the other hand, the naira strengthened to N311.03 to the dollar yesterday, higher than the N316.83 to a dollar from the previous day.

Credit: Thisday

SHOCKING!! [Video] Pope Francis Falls Over During Mass In Front Of Worshippers

This is the moment Pope Francis fell over during Mass in front of a television audience of millions while visiting Poland’s holiest site.

The 79-year-old Pontiff stumbled at the altar and had to be helped to his feet as he celebrated a Mass at the at the Jasna Gora Monastery in the southern city of Czestochowa.

He was at the monastery, home to an ancient Catholic icon believed to work miracles, ahead of a trip by tram to meet young pilgrims from the world over.

Pictures captured the moment Pope Francis fell over during Mass in front of a television audience of millions while visiting Poland's holiest site 

Pictures captured the moment Pope Francis fell over during Mass in front of a television audience of millions while visiting Poland’s holiest site

The 79-year-old pontiff stumbled at the altar and had to be helped to his feet as he celebrated a mass in the souther city of Czestochowa

The 79-year-old pontiff stumbled at the altar and had to be helped to his feet as he celebrated a mass in the souther city of Czestochowa

Pictures show him tumbling to the floor next to steps leading to the altar and being helped to his feet by Vatican Master of Ceremonies, Guido Marini.

Francis suffers from sciatica, a medical condition in which pain sometimes shoots down the leg from the lower back. He was uninjured and finished the Mass in front of a television audience of millions.

The Pontiff, in Krakow to headline an international Catholic youth extravaganza, travelled to the southern city to pray before the legendary Black Madonna and say mass.

Security was tight at the hill-top shrine following a series of attacks in Europe, with a highly visible police and army presence on the roads leading into the city, where hundreds of thousands of pilgrims were gathered.

Francis hopped in an open-topped pope mobile for a tour through the cheering crowds.

‘We slept so little, but it’s worth it, what an atmosphere!’ said pilgrim Kate Tor, whose young sons were among the thousands of children who had camped out on the sweeping avenue leading to the monastery.

Teenagers still wrapped in sleeping bags, elderly couples perched on folding chairs outside tents and families with Francis-themed balloons were serenaded by the Argentine pope’s favourite tango music before his arrival.

Pictures show him tumbling to the floor next to steps leading to the altar and being helped to his feet by Vatican Master of Ceremonies, Guido Marini

Pictures show him tumbling to the floor next to steps leading to the altar and being helped to his feet by Vatican Master of Ceremonies, Guido Marini

The pontiff, in Krakow to headline an international Catholic youth extravaganza, travelled to the southern city to pray before the legendary Black Madonna and say mass

The pontiff, in Krakow to headline an international Catholic youth extravaganza, travelled to the southern city to pray before the legendary Black Madonna and say mass

Ambulances and fire-engines were on standby with Polish officials taking no chances with security following the jihadist murder of a priest in a French church on the eve of the five-day trip to celebrate the 2016 World Youth Day.

Arriving on Wednesday, the Argentine said the world was at war but argued that religion was not the cause, insisting the way for people to ‘overcome fear’ was to provide asylum to those fleeing war and persecution.

He was set to lead a mass to mark the 1050th anniversary of Poland’s Catholic faith at the monastery.

The Black Madonna has been venerated since 1711, when the bubonic plague decimated Warsaw’s population but stopped dead when it reached the Jasna Gora monastery in the south of the country.

Since then the figure, which legend has it was painted by Saint Luke the apostle, has been hailed as miraculous.

The Pope was helped to his feet and was uninjured despite the tumble. He went on the finish Mass, which was aired to millions on television

The Pope was helped to his feet and was uninjured despite the tumble. He went on the finish Mass, which was aired to millions on television

Francis fell onto his back on to the carpeted floor and had to be quickly helped to his feet by those around him this morning

Francis fell onto his back on to the carpeted floor and had to be quickly helped to his feet by those around him this morning

Francis fell onto his back on to the carpeted floor and had to be quickly helped to his feet by those around him this morning

Two scars on the Madonna’s face were reportedly inflicted during an attempted robbery in 1430, with the petrified thieves turning tail and fleeing when blood poured from the torn painting.

Francis will return to Krakow after the mass, where he will be presented with the keys to the city by the mayor, before jumping on to a tram which will whisk him to the sprawling Blonia meadow for his first big WYD event.

Some 15 disabled youngsters and their families will take the tram with the pontiff to the welcome ceremony, where hundreds of thousands of people will have spent the day being entertained by singers and dancers.

The pontiff had called for a minute’s silence Wednesday evening for a Polish volunteer, Maciej Szymon Cieslam, who was to have travelled with him on the tram, but had died at the start of the month after a battle with cancer.

At his first evening appearance at the window of the archbishop’s palace in Krakow, he told the thousands of youngsters gathered below that Ciesla was getting ready to party with them at the WYD in spirit.

‘Now go and do your duty, make noise all night long!’ he finished with a grin.

Watch video below:

Source – dailymail.co.uk

BIZARRE: 4 Year Old Falls Victim Of Human Organ Traffickers Who Plucked Out His Eyes In Zaria (VIEWER DISCRETION)

This is unfortunate and heartbreaking. A facebook user shared this story on his facebook page with a graphic image. Read the sad story below:

Sometimes, I ask myself if truly my Country deserves me or I deserve this Country called Nigeria. This 4 year old child’s eyes were removed by some heartless and faithless persons in Zaria, North West Nigeria, 2 days ago.

Please let us pray for him and for the arrest of the perpetrators of this unwholesome act. * tears.

May He be healed IJN! Amen

Please Share This Until it gets to police!

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Cyril Chinedu's photo.

 

Denrele Falls During Movie Shoot, This Time It’s Not Funny (Watch Video)

Denrele Edun was on Monday involved in another  dramatic fall which left him hurt  in the face during a movie shoot.

Injured Denrele, who posted a video of himself after the incident on Instagram said no artist has suffered in the craft of entertainment like himself.

See his IG post below:

Man Falls Off A Cliff Walking Head Down On His Phone

Time reports on a man who plunged to his death off a San Diego cliff on Christmas Day while he was distracted by an electronic device.

The man, who NBC 7 says has been identified as 33-year-old Joshua M Burwell of Sheridan, Indiana, fell 60 feet from Sunset Cliffs on Friday at 5 p.m. People who saw him before the fall said he seemed to be looking at either a cell phone or a camera while walking.

“Witnesses stated seeing someone distracted by an electronic device and he just fell over the edge,” said San Diego Lifeguard Bill Bender. “[He] wasn’t watching where he was walking, he was looking down at the device in his hands.”

After the man fell, three people climbed down the rocks to help rescue him and administer first aid.

“They acted quickly, they found a way to get down the cliff,” Bender said, according to NBC 7. “They put themselves at jeopardy…They administered CPR to the person in attempt to save a life.”

Unfortunately, the man was pronounced dead when medics arrived on the scene.

“Just like driving and using a cell phone, you don’t want to be walking and using a cell phone or be distracted or anything,” Bender said.

Credit: Cosmopolitan

Teen Falls To Death While Taking Extreme Selfie

Seventeen-year-old Andrey Retrovsky from Vologda, Russia, had gained some notoriety — at least on Instagram — for his selfies.

Strictly speaking, some were images of him that looked like they were taken by someone else. The effect, though, was to show his daredevil spirit. Many were of him on rooftops or other dangerously high places.

Sadly, as the International Business Times reports, his latest idea was to hang from a roof by a rope, thereby pretending he was falling. But the rope reportedly snapped and he fell from the 9-story building to his death.

Some estimates suggest that more people have been killed by selfies than by sharks in 2015. But of course it isn’t the selfie that kills, it’s the person who takes risks while taking one.

Read More: C-net

Market Capitalization Falls By N88bn

The equities segment of the Nigerian Stock Exchange opened the week on a negative note as equities failed to rally after declining on Thursday and Friday. At the close of trading, the market capitalization of the listed equities fell by N88bn or 0.75 per cent to close at N11.663tn, down from N11.751tn. Also, the NSE All-Share Index depreciated by 168 basis points or 0.49 per cent from 34 485.72 basis points to 34 317.72 basis points.

Monday’s losses were broadly spread as all market indicators fell, with the exception of the NSE Industrial Index, which rose from 2 123.83 basis points to 2 129.94 basis points, and the NSE Alternative Securities Market Index, which closed unchanged. Investors exchanged 200.966 million shares valued at N2.197bn in 4,151 deals on Monday with 19 stocks recording price appreciation and 27 others recording price depreciation.

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#PhotoNews: President Mugabe Trips & Fall Off Podium

Zimbabwe President Robert Mugabe, 90, fell down steps from a podium after speaking to supporters upon his return from Ethiopia, say witnesses.

APTOPIX Zimbabwe Mugabe FallZimbabwe Mugabe Fall

Mugabe appeared to miss a step and toppled when he left the raised lectern at the airport Wednesday afternoon, according to several witnesses, who insisted on anonymity because of security concerns. His aides quickly helped him up and escorted him to his limousine which sped away, they said.

“He addressed supporters who welcomed him … He missed a step as he walked down from the podium and immediately fell down,” said a witness.

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