Naira Depreciates To N1,455/$ In Parallel Market
Photo Credit:Vanguard Newspapers
The naira yesterday depreciated to N1,455 per dollar in the parallel market from N1,440 per dollar last week Friday.However, the naira fell to N1,419.86 per dollar in the Nigerian Foreign Exchange Market (NAFEM).
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,419.86 per dollar from N1,435.53 per dollar last weekend, indicating N15.67 appreciation for the naira.Consequently, the gap between the official and parallel market exchange rates widened to N35.14 per dollar yesterday from N4.47 per dollar last week.
Photo credit: Google
Naira In Transition, Not Jinxed-Rewane
Photo Credit:Punch Newspapers
A renowned economist, Bismarck Rewane, on Monday, declared that the country's official currency is undergoing transition and not cursed as being speculated in some quarters.
Rewane, the Managing Director of Financial Derivatives Company Limited, stated this when he was featured as a guest on Channels Television's late-night programme, Politics Today.
The development comes in the wake of a rebuttal by the Central Bank of Nigeria that it has no plan to convert $30 billion deposits in domiciliary account holdings into naira
While admitting that tough days lie ahead for Nigerians, Rewane said the free fall of the naira is not a problem that cannot be solved by one silver bullet.
Stay Away From Edo LP Primary, Protesters Tell Abure
Photo Credit:Punch Newspapers
Members of the Edo Chapter of the Labour Party, on Sunday evening, protested against the party's National Chairman, Julius Abure, over alleged support for some aspirants ahead of the party governorship primary to be held later this month.
The angry members besieged the state party's secretariat with placards bearing different inscriptions, chanting, "Abure must go."They were, however, prevented from entering the building by security operatives, who also seized some cameras belonging to journalists covering the protest.
It took the intervention of the Chairman of the Nigerian Union of Journalists, Edo State Council, Festus Alenkhe, for the security operatives to release the cameras.
Tinubu Behind Everything We Are Doing-Wike
News Source: Daily Post
Minister of the Federal Capital Territory, FCT, Nyesom Wike, has said that President Bola Tinubu is behind every development he is bringing to the nation's capital
Wike said this during the flag-off of the construction of a 5km dual carriageway in Kuje Area Council of the FCT.The former Rivers helmsman said the road project was part of efforts to rekindle the hope of the people and reassure them that President Bola Ahmed Tinubu means well for the FCT.
He said the FCT Administration has been lucky to have the support of the President, who is sparing nothing to ensure that all residents reaped the dividends of democracy, adding that the FCTA has no excuse not to perform.
According to the Minister, "I want to say that Mr. President is fully in support of us and his mandate is very clear to the Hon. Minister of State and my humble self.
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