The Federal Government of Nigeria has declared Tuesday, October 1, 2024, as a public holiday to commemorate the country’s 64th Independence Day celebration.

This announcement was made by the Minister of Interior, Dr. Olubunmi Tunji-Ojo, who congratulated Nigerians both at home and abroad on this historic occasion.

Dr. Tunji-Ojo commended the resilience and hard work of Nigerians, emphasizing that their sacrifices will not go unnoticed.

He encouraged citizens to reflect on the enduring efforts of the nation’s founding heroes, reminding them that the dream of a prosperous and united Nigeria can only be realized through collective action and national unity.

He also “reiterated the need for Nigerians to reflect on the labour of our heroes past and be inspired for the tasks ahead, realising that a Nigeria of our dream can only be built when we unite”.

“While wishing Nigerians a Happy Independence Day Anniversary, Dr. Tunji- Ojo urged the citizens to continue to be steadfast in nation-building,” the statement reads.

The federal government had announced that this year’s Independence Day anniversary will be a “low-key event” due to the economic hardship and spiralling inflation bedevilling millions of households.

The Nigerian naira experienced a significant decline in value on Friday, depreciating to N1,700 per dollar at the parallel section of the foreign exchange market.

By the close of trading, the naira had depreciated by 1.49 percent compared to its value of N1,675 per dollar on Thursday.

Notably, this rate of N1,700 per dollar represents the lowest value the naira has recorded since February 19, when it previously reached a low of N1,730 per dollar.

In Lagos, currency traders, also known as street traders, quoted the buying rate of the local currency at N1,680 per dollar and the selling rate at N1,700 per dollar, resulting in a profit margin of N20.

Meanwhile, at the official foreign exchange window, the local currency appreciated by 2.24 percent, rising from N1,576.1 per dollar on Thursday to trade at N1,540.78 per dollar on Friday.

According to FMDQ Exchange, a platform that oversees the official window, a dollar was sold as high as N1,691 and at a low rate of N1,530 during trading hours.

At the parallel market on Monday, the naira depreciated to N1,665/$ from N1,663 on September 20.

Maintaining the depreciation streak, the local currency fell further to N1,670 and N1,680 on Tuesday and Wednesday, respectively.

However, the naira rebounded to N1,675 on Thursday.

At the official FX market, the local currency depreciated to N1,562.66 on Monday — from N1,541.52 on September 20.

Subsequently, the naira further depreciated to N1,658.48 on Tuesday and N1,667.72 on Wednesday, before appreciating to N1,576.1 on Thursday.

On January 29, the Central Bank of Nigeria (CBN) said it had begun implementing a comprehensive plan to improve liquidity in the Nigerian FX markets in the short, medium, and long term.

The apex bank said the FX reforms were designed to streamline and harmonise multiple exchange rates, promote transparency, and lessen the likelihood of arbitrage opportunities.

On September 25, Olayemi Cardoso, governor of CBN, said the multiple interest rate hikes have restored confidence in the naira.

With the Kwara State government set to host the prestigious Best of Nollywood (BON) Awards on November 24, esteemed actors, Fausat Balogun, popular as Madam Saje, and Kanayo O Kanayo are poised to recieve the Best of Nollywood Lifetime Achievement Awards for 2024.

The announcement was made by Seun Oloketuyi, founder, BON Awards, earlier in the week.

With the announcement the duo are set to join other Nollywood greats in the league of Lifetime Achievement Award winners. On this list are people like Adebayo Salami, Toyin Adegbola, Madam Kofo, and others.

While speaking about the duo, Oloketuyi explained that there was a need to start celebrating film heroes in their lifetime, when they can enjoy the accolades.

He said , “Why must we wait till our film heroes are dead to give them awards? Posthumous awards are good, but its better the recipient is alive to recieve awards.”

Also weighing in, Feranmi Olaoye, the Executive Producer BON Awards revealed that the choice of Kanayo and Madam Saje were not made lightly.

“These two are people we grew up watching. They inspired the generation we watch now, and they still maintained their stand in the industry. They deserve to be celebrated, and that’s why we have chosen them as this year’s Lifetime Achievement Award winners.

The 2024 edition of the BON Awards is billed to hold at the Sugar Factory Film Studios in Ilorin, the state’s latest hub for filmmakers.

Oloketuyi had earlier expressed excitement about Kwara’s role as host, promising a fulfilling experience for the expected 500 Nollywood stars attending.

Governor AbdulRahman AbdulRazaq had also highlighted the studio’s potential to elevate Nigerian cinematography and promote local talent. The event underscores Kwara’s commitment to becoming a leading destination in the creative industry, fostering growth and investment in the sector.