KADUNA COURT JAILS TWO FOR IMPERSONATION (PHOTO). #PRESS RELEASE.

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 Kaduna Court Jails Two for Impersonation The Kaduna Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, has secured the conviction and sentence of Musa Abdulmalik and Sunday Godwin before Justice Amina Bello of the Kaduna State High Court, Kaduna for cheating by impersonation.  They were prosecuted on separate one-count charges of cheating by impersonation.  The charge against Abdulmalik reads: "That you, Musa Abdulmalik (a.k.a Lynn Ben), sometime in January, 2026 at Kaduna, Kaduna State, within the jurisdiction of this honourable court, committed cheating by impersonation when you falsely presented yourself as Lynn Ben, a female and adult entertainer via Telegram (an online social media application) in that assumed character cheated one BJK of the total sum of $80USD (Eighty United States American Dollars) and you thereby committed an offence contrary to Section 308 of the Penal Code Law, 2017 of Kaduna State and Punishable under Section 309 of the ...
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NAIRA WEAKENS TO N1, 590 AGAINST THE DOLLAR IN THE PARALLEL MARKET. (PHOTO).

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 Naira weakens to N1,590 against the dollar in the parallel market.



The Naira dropped to N1,590 per dollar in the parallel market, down from N1,580 per dollar on Monday. In addition, the Naira fell to N1,582.09 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.


Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,582.09 per dollar from N1,570.99 per dollar on Monday, indicating an N11.1 depreciation for the Naira. The volume of dollars traded in the market declined by 18.2 percent to $201.43 million from $246.44 million traded on Monday.


As a result, the gap between the parallel market and NAFEM rate narrowed to N7.91 per dollar from N10.8 per dollar on Monday.


Isa Garba, a currency trader, attributed the Naira's depreciation to increased demand and low supply of the dollar.


Today, the Naira depreciated against the dollar by N10. I bought a dollar at N1580 and sold it for N1,590, compared to yesterday's rate. Today, there is less supply of dollars. The dollar was traded at N1,600 per dollar this morning and closed at N1,590.


"Due to the low supply, few traders were present in the market, adding to the demand and supply pressure."

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