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CBN Reduces BDC Exchange Rate to N1,117.5/$

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The Central Bank of Nigeria (CBN) has made a significant adjustment to the exchange rate in the Bureaux De Change (BDC) segment of the forex market, reducing it by 12 percent or N152.23 to N1,117.5 per dollar. This decision comes as the CBN initiates another round of dollar sales to 1,588 eligible BDCs.

According to a circular issued on Monday, the CBN will sell $10,000 to each BDC at the rate of N1,101 per dollar for eligible invisible transactions. The circular also directs BDCs to sell to eligible end-users at a spread of not more than 1.5 percent, resulting in a maximum exchange rate of N1,117.5 per dollar for end-users.

Dr. W.J Kanya, from the Trade and Exchange Department of the CBN, announced the new rate in the circular, stating:

“We write to inform you of the sale of $10,000 by the Central Bank of Nigeria (CBN) to BDCs at the rate of N1101/$1. The BDCs are in turn to sell to eligible end users at a spread of NOT MORE THAN 1.5 percent above the purchase price.

“All eligible BDCs are therefore directed to commence payment of the Naira deposit to the underlisted CBN Naira Deposit Account Numbers from today, Monday, April 8, 2024, and submit confirmation of payment with other necessary documentation for disbursement at the appropriate CBN Branches.

“All BDCs are strongly advised to continue to abide by the rules and conditions as stipulated in our earlier letters/circulars.”

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Transfer: Gabriel Jesus Could Leave Arsenal as Napoli Show Interest

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Arsenal striker Gabriel Jesus could leave the club this summer, with Italian side Napoli reportedly interested in signing the Brazilian forward.

According to Sky Italia, Napoli’s new manager, Massimiliano Allegri, is a long-term admirer of Jesus and is keen to explore the possibility of bringing him to Serie A.

Jesus and Allegri share the same agent, Giovanni Branchini, who was reportedly spotted at Napoli’s pre-season training camp in Castel di Sangro on Friday.

A meeting could reportedly take place to discuss a potential move for the Arsenal forward.

Napoli’s interest could depend on their ability to offload one of their existing strikers. The club would reportedly need to find new destinations for Lorenzo Lucca, who spent last season on loan at Nottingham Forest, or Romelu Lukaku before making a move for Jesus.

Arsenal are reportedly willing to consider offers of around £18 million for the 29-year-old, who has entered the final year of his contract with the Gunners.

Jesus joined Arsenal from Manchester City in 2022 and could now be heading for a new challenge in Italy if Napoli’s interest develops into a formal transfer.

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Transfer: Liverpool Agree Loan Deal for Barcelona Defender Araujo

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Liverpool have reportedly reached an agreement with Barcelona to sign Uruguay international Ronald Araujo on loan.

According to Sky Sports, the deal could be completed this weekend, with the 27-year-old defender set to move to Anfield on a straight loan arrangement.

Araujo renewed his Barcelona contract last year, extending his stay at the Catalan club until 2031.

However, the defender endured a difficult campaign last season and was subsequently granted an extended leave of absence from the team.

The proposed move to Liverpool would give Araujo an opportunity to revive his career in a new league and country.

The Uruguay international joined Barcelona from Uruguayan club Boston River in 2018 before making his first-team breakthrough a year later.

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LaLiga: Mourinho Introduces Four New Rules at Real Madrid

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Real Madrid manager Jose Mourinho has reportedly introduced a series of new rules at the club after identifying what he considered bad habits within the dressing room.

Mourinho returned to the Spanish giants for a second spell this summer and has already begun implementing changes to improve discipline and professionalism within the squad, according to AS.

One of the new measures concerns players’ diets. The Portuguese manager has reportedly ended the freedom for players to eat whatever they choose, with the club’s nutritionist now responsible for overseeing their meals.

Under the new system, menus will be carefully structured and determined according to the nutritional needs of the players.

Mourinho has also introduced a disciplinary measure for players who arrive late to training. Such players will reportedly be required to undergo individual gym sessions.

Another rule concerns injury rehabilitation. Players recovering from injuries will now be expected to complete their rehabilitation at the club’s training ground under the supervision of Real Madrid’s medical and fitness staff rather than working independently with external personnel.

The changes are part of Mourinho’s reported efforts to establish greater discipline and control within the Real Madrid squad following his return to the club.

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