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Davies-Agba: Nigeria’s Longest-serving Monarch Dies After 64-year Reign

Davies-Agba

The death of the paramount traditional ruler of Obudu Local Government Area in Cross River State, His Royal Majesty, Joseph Davies-Agba, has been officially announced by the family.

Read Also: Accept Your Fate, Tinubu Defeated You — FG Urges Atiku, Obi

The demise of Davies-Agba was announced in a statement by his son, Mr Kjay Jedy-Agba, on Sunday in Calabar.

It is with a heavy heart that I communicate to you the passing away of my beloved father, His Royal Majesty, Joseph Davies-Agba, OON, the “Uti Item III of Utugwang, Uti Ukani I of Obudu, Paramount Ruler of Obudu Local Government Area and Chancellor of the University of Cross River State.

“His accession to the traditional royal stool dated back 64 years ago, making him probably the longest-serving traditional ruler in Africa.

“We, the immediate family, may not have the full details of his final funeral protocol given his standing as a king.

“We are constrained to follow the tradition of our people in all events that would culminate to his final obsequies.

The statement explained that the public would be abreast with the details of the funeral as soon as the traditional institution concludes it.

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Naira dollar May 3 – .

Naira today, Friday, May 3 2024, is exchanging 1,355.904 Naira to 1 US Dollar at the parallel market (black market) in Nigeria according to Naira rate’s Official X handle on Friday. This means that you can get 1,355.904 Naira for every 1 Dollar that you exchange.

The black market rate signifies the value at which individuals can trade their dollars for Naira outside the official or regulated exchange channels..

Note that the Black Market Exchange rate is typically higher than the official exchange rate because it is not regulated by the government.

Today, May 3 exchange, indicates that naira lost ₦5 against dollar compared to yesterday, when naira exchanged ₦1,350.804 to  $1.

. reports that the value of any nation’s currency is determined by aggregate supply and demand.

The forces of Supply and demand are themselves influenced by a number of factors, including interest rates, inflation, capital flow, and money supply.

The most common method to value currency is through exchange rates. The two main exchange rate systems are fixed rate and floating rate systems.

Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics.

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How Govt Palliative Worsening Food Inflation – Cardoso

 

Lifestyle Nigeria gathered that the Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that the huge purchase of foodstuffs by the government as palliatives is contributing to the galloping food inflation in the country.

He stated this in his contributions during the March Monetary Policy Committee, which was published on the website of the CBN.

The MPC increased the benchmark interest rate to 24.75 per cent, from 22.75 per cent.

The committee had said that its hawkish stance was to tackle inflation.

However, the country’s inflation rate accelerated to 33.2 per cent in March, with the food inflation rate reaching 40.01 per cent, a year-on-year increase of 15.56 percentage points from 24.45 per cent in March 2023.

According to the National Bureau of Statistics, the surge in food inflation could be attributed to rising prices for items such as garri, millet, yam tuber, water yam, and others.

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Pomp as CEO Lamido Motors, Chief Chinedu Jonathan Set For Highly Coveted Silent Heroes Awards

A renowned businessman, entrepreneur and humanitarian, the Chief Executive Officer of Lamido Motors and Lamido Homes, Chief Nwoye-Oba Chinedu is set to be honoured as a Silent Hero in Business and Enterprise.

This is in recognition of his contribution to the economic development of Nigeria and selflessness in service to humanity. 

The 2024 annual Nigerian Silent Heroes Award (NSHA) ceremony which is the 6th in the series is being organised by SHA Initiative, a non-governmental organisation, aiming to express gratitude of society to the award recipients for their kindness towards fellow individuals, families, community and environment and their silent heroic service to fatherland.

The initiative was conceived by the Coordinator, Mrs. Ozioma Odita Sunday. 

Chief Nwoye-Oba Chinedu has made significant impact in the service to humanity through his philanthropic and humanitarian campaigns. 

He has embarked on several scholarship schemes and carried out youth empowerment projects in his Anambra communities and beyond. 

He would be honoured and decorated next month June at a robust ceremony taking place at Wells Carlton Hotel, Asokoro l. 

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