Breaking News
Naira falls to N1,620/$ in black market
The market recorded an intraday high of N1,635 per dollar and an intraday low of N1,500 per dollar resulting in a bearing of N135. The volume of dollars traded (turnover) in the market rose by 103.5 percent to $248.75 million from $122.18 million traded on Tuesday.
The naira yesterday depreciated to N1,620 per dollar in the parallel market from N1,615 per dollar on Tuesday.
Similarly, the naira yesterday depreciated to N1,615.94 per dollar in the Nigerian Foreign Exchange Market (NAFEM).
Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,615.94 per dollar from N1,603.38 per dollar on Tuesday, indicating N12.56 depreciation for the naira.
The market recorded an intraday high of N1,635 per dollar and an intraday low of N1,500 per dollar resulting in a bearing of N135. The volume of dollars traded (turnover) in the market rose by 103.5 percent to $248.75 million from $122.18 million traded on Tuesday.
Consequently, the margin between the parallel market rate and NAFEM narrowed to N4.06 per dollar from N11.62 per dollar on Tuesday.
PEOPLE POWER REVOLUTION: Between Omoyele Sowore/Nigeria and Julius Malema/SouthAfrica -By Richard ODUSANYA
Omoyele Sowore represents a different model—what might be called “dissident outsiderism.” A former student leader (President) and a courageous non-conformists....
The Politics of Liberation: Bob Marley in Postcolonial Discourse -By Patrick Iwelunmor
Through the metaphor of Babylon, Marley diagnosed the postcolonial condition with prophetic clarity. Babylon was not just ancient scripture; it...
Sowore’s Reckless Utterances: No One Is Bigger Than the Constitution -By Kelvin Adegbenga
Nigeria is a country governed by law, not by noise-makers or professional agitators. Sowore’s repeated denigration of state institutions and...
Lagos Needs Proven, Transformational Leadership Again: A Case for Governor Akinwunmi Ambode -By Ayodeji Olatubora, Esq
Ambode’s government pushed the next phase of Lagos’s long-term transport reform: expanding Bus Rapid Transit (BRT) capabilities, planning depot rollouts,...
Russia’s Multifaceted Public Diplomacy Catching Up With Africa -By Kestér Kenn Klomegâh
Russia has, historically, supported African countries in their desire to determine their own national policies and gain true independence. And...