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Dollar To Naira Exchange Rate For Today 28 April 2024

Find below, the Dollar to Naira exchange rate for today, 28 April 2024.

Lifestyle Nigeria has obtained the official dollar to the naira exchange rate in Nigeria today, including the Bureau De Change (BDC) rate and CBN rates.

What Is The Official Exchange Rate For Dollar To Naira Today?

The exchange rate between the Naira and the US dollar according to the data released on the FMDQ Security Exchange, the official forex trading portal showed that the Naira opened at ₦1346.35 per $1 on Thursday, April 25, and closed at ₦1339.23 per $1 on Friday, April 26, 2024.

However, the Naira is trading as high as ₦1,300 per Dollar at the black market even though the Central Bank of Nigeria (CBN) announced the unification of all segments of the foreign exchange market.

The apex bank, had in a circular on Wednesday 14th June 2023, said all FX windows were now collapsed into the investors & exporters (I&E) window.

The statement read, “Abolishment of segmentation. All segments are now collapsed into the Investors and Exporters (I&E) window. Applications for medicals, school fees, BTA/PTA, and SMEs would continue to be processed through deposit money banks.

“Re-introduction of the “Willing Buyer, Willing Seller” model at the I&E Window. Operations in this window shall be guided by the extant circular on the establishment of the window, dated 21 April 2017, and referenced FM/DIR/CIR/GEN/08/007. All eligible transactions are permitted to access foreign exchange at this window.

“The operational rate for all government-related transactions shall be the weighted average rate of the preceding day’s executed transactions at the I&E window, calculated to two (2) decimal places.

“Proscription of trading limits on oversold FX positions with permission to hedge short positions with OTC futures. Limits on overbought positions shall be zero.

“Re-introduction of order-based two-way quotes, with bid-ask spread of N1. All transactions shall be cleared by a Central Counter Party (CCP).

“Reintroduction of Order Book to ensure transparency of orders and seamless execution of trades.

“The operational hours of trades shall be from 9 a.m to 4 p.m, Nigeria time.”

The apex noted that further guidance on the operational changes would be communicated to authorized dealers and the general public in due course.

The changes to operations in the country’s FX market imply that Nigeria has eased its control of the naira, allowing the local currency to float freely.

Meanwhile, a free-floating exchange rate occurs when a government allows the exchange rate to be determined purely by market forces and there is no attempt to ask the central bank to influence the external value of the exchange rate.

Disclaimer: Gatekeepers News does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.c

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FAKE NEWS ALERT: Herbert Wigwe’s Father Did Not Slump

Sources have confirmed that Herbert Wigwe’s father, Pastor Shyngle Wigwe, did not slump during the funeral of his late son.

Some sections of the media, not Lifestyle Nigeria had published that the father of the late Chief Executive Officer of Access Bank, Herbert Wigwe, collapsed during his son’s funeral service at Isiokpo in Ikwerre Local Government Area of Rivers state.

The sections of the media reported that Pastor Shyngle Wigwe, who is in his 80s, was slumped following the shock of his billionaire son, Wigwe; daughter-in-law, Chizoba, and grandson, Chizzy. They died in a helicopter crash in the US on Saturday, March 9.

However, a credible police source who spoke to VANGUARD dismissed the wild news outrightly, saying that Wigwe’s father was “Hale and hearty”.

The source added, “Even the Senate President (Godswill Akpabio) met and prayed for him.

“The story of Pa Wigwe’s collapse is totally false. We should allow the family to mourn its dead and not add to the pain by writing false stories.”

The remains of the deceased have been interred at a private cemetery within the Wigwe University premises in Isiokpo.

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Group Launches Fact-Checking Platform To Counter Fake News 

Lifestyle Nigeria gathered that a group concerned with socioeconomic development in Africa has launched an Artificial Intelligence (AI)-powered fact-checking platform to counter the spread of misinformation and disinformation on the continent.

Speaking at the unveiling of the AI-powered platform, named, ‘MyAIFactChecker’ on Monday in Ilorin, the Global Director of a Nigeria-based non-profit organization, Brain Builders Youth Development Initiative (BBYDI), Abideen Olasupo, said that FactCheck Africa, an initiative of the BBYDI, was launched in 2022 as an independent, non-partisan and non-profit fact-checking platform for Africans.

“MyAIFactChecker was a product of months of dedicated effort and research, with support from BECERA and the US State Department, noting that the initiative would revolutionise how Africans verify news and other online information.

“MyAIFactChecker is a demonstration of our organization’s unwavering commitment to combating the scourge of misinformation, disinformation, and fake news, thereby safeguarding the integrity of information. This platform leverages cutting-edge AI technology, is user-friendly, and allows you to verify the authenticity of news, social media posts, and other online content quickly and conveniently.”

Olasupo also said that the innovative platform would provide users with a range of functionalities, including a chatbot interface, feedback mechanism, and voice search capability that is available in English, Swahili, French, Arabic, and several popular local languages in Nigeria.

According to him, the launch of MyAIFactChecker comes at a critical time, as the proliferation of disinformation and harmful content continues to pose significant threats to the integrity of elections, democracy, public health, and stability in African nations.

The BBDYI global director, who said the impact of fake news and disinformation on elections could not be waved, expressed optimism that his organisation’s newly introduced AI fact-checking would help combat the spread of disinformation in African nations preparing to hold elections this year.

“It is worthy to note that 2024 is a year of elections in Africa as about 24 countries on the continent will hold elections this year.

During electioneering periods, there is always a proliferation of fake news, and its attendant consequences could negatively impact the electoral process.

With the launch of MyAIFactChecker, we are poised to curb the spread of misinformation and disinformation before, during, and after elections in these affected countries.

“We believe that access to accurate information is a fundamental right, and we are dedicated to empowering individuals with the tools to discern truth from falsehood in this digital age. We will continue to promote media literacy and critical thinking across Africa,” he said.

Olasupo, who said that he attended the 2024 United Nations ECOSOC Youth Forum held in New York last week, added that he spoke on ‘The ethical use of AI and its implications for education in Africa’, saying that his organisation would continue to push for policies around the ethical use of AI in Nigeria and Africa as a whole to maximise its benefits and mitigate its risks.

He lauded Nigeria’s Minister of Communications, Innovation and Digital Economy, Bosun Tijani, for spearheading the initiative to deliver a comprehensive Artificial Intelligence Strategy for the country, stressing that such endeavour was crucial in positioning Nigeria to effectively leverage AI for national development.

“In recognition of the immense potential of AI in addressing societal challenges, BBYDI will continue to advocate for policies and ethical frameworks to guide the deployment of AI technologies across Africa. It is imperative that we harness the power of AI for the collective good of our society,” he noted.

Earlier in his address, the Head of Programmes at FactCheck Africa, Habeeb Adisa, said the introduction of the innovative AI solution “represents a significant advancement in our stride to fight the dissemination of fake news that continues to undermine societal trust and cause discord among people.

“Our platform is designed to cater for a diverse linguistic landscape across the continent. Users can simply enter a new query, and our platform will provide them with an assessment of the article’s authenticity. It will also let them know if it’s credible, partially credible, or unreliable.”

He also disclosed that FactCheck Africa had launched a 3-month AI Journalism Fellowship for journalists in West Africa. According to him, the fellowship is a comprehensive training programme that will equip selected journalists with the knowledge, skills, and ethical considerations needed to navigate AI in journalism.

Also speaking, the Executive Director of BBYDI, Nura Jimoh, stated that the unveiling of MyAIFactChecker reinforced the commitment of their organisation to leverage tech solutions and digital tools to address societal challenges.

She recalled that BBYDI last year, in collaboration with Christian Aid, organised the first CivicTech Hackathon in Nigeria to address voter apathy and encourage increased citizens’ participation in the electoral process.

“We also launched evit.ng to track and report violence pre and post-election. We also unveiled conflictreport.org to curb the farmer-herders crisis in the northern part of the country.

“Additionally, we introduced KnowCovid19NG with support from the US Embassy to flatten the curve and provide psychosocial support during the COVID-19 pandemic. Two years before the 2023 general elections, we launched Yvotenaija.org to promote civic education across grassroots communities and on various social media platforms,” Jimoh remarked.

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How 17-Year-Old Hacker Stuns EFCC Chairman With Impressive IT Skills 

 

Lifestyle Nigeria gathered that the Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, narrated an incident where a 17-year-old successfully hacked into his personal computer and bank account while being interrogated at his office in Lagos.

The anti-graft agency chairman made this known in a chat with editors at the EFCC Headquarters, Jabi, Abuja, last Tuesday.

Olukoyede recounted inviting the 17-year-old for questioning at his own office, only to witness the young hacker effortlessly bypass the security measures of his locked computer right before his eyes.

He said, “I brought into my Lagos office a seventeen-year-old boy who is studying History and Anthropology. He is in the 200 level. He is not doing anything science-related. The guy sat in my office in Lagos and demonstrated some things to me on my laptop.

“He asked for my number, I gave him my number and through my number, he got my BVN. He then mentioned the name of my account number to me at the bank. I didn’t tell him anything.”

According to him, the country must take all necessary measures to discourage these young individuals, as their actions could lead to imprisonment or even fatal consequences.

“The problem is, I see crime in that, and I also see opportunities in it. So, if you leave these guys, we don’t make them know that what they are doing is wrong, if you leave them, they will continue to see it as a way of life to make money.”

He mentioned that due to their young ages, the EFCC would administer light sentences to punish youths for the cybercrimes they committed, while also focusing on helping them change their orientation.

“We plead for light sentences so that we can reorientate them and that’s part of what we’re doing. What joy will I derive from sending a 17-year-old boy to jail? You have destroyed his future. You have destroyed his career.

“Sometimes they give them options of fines and all of that conviction, so we bring them in, lecture them and talk to them.”

In a bold demonstration of his skills, the boy confidently informed Olukoyede that he could transfer up to 10 million naira from any account in a single transaction.

He said the 17-year-old boy, when he was done, said, “Look, oga, I can make 10 million now. I will demonstrate it to you. I will move money from your account to mine.

“I said no, don’t do that in my office and he was ready to do that. When he opened my laptop, I didn’t give him the key to my laptop and he had access.

When questioned about his involvement in cybercrime, the boy explained that his parents, who are both farmers, were unable to work on their farm due to security concerns.

“He has two younger ones. One is in JSS2 and the other is in SSS2. He is the one feeding his parents and responsible for the payment of tuition for his younger ones.

“I saw a Bill Gates in that guy.”

Olukoyede, however, assured the boy that he would take responsibility for his schooling if he was able to stop the criminal act.

“I told my family, we are going to do that.

“I spoke to one of my friends who is also ready to help take up the schooling of the SSS 2 guy. So I’m still looking for someone who will take up the one for the JSS 2 sibling.”

This is not the first time the EFCC chairman has revealed the anti-graft agency’s plan to rehabilitate convicted internet fraudsters with reduced sentences.

Addressing a delegation of the National Association of University Students in March 2024, he said “when you think deeply, that tag ‘ex-convict’ is not a good thing. You can never tell where you will find yourself tomorrow, and they will want to profile you and discover that you are an ex-convict.”

“So, it is even in the interest of the youth that the EFCC is doing what it is doing to prevent them from indulging in the heinous act of cybercrime.”

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