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Naira Plummets Further, Hits Over ₦1,500 Against Dollar
Naira Plummets Further, Hits Over ₦1,500 Against Dollar
The Nigerian currency, the naira, faced another significant devaluation against the US dollar on Monday, continuing its downward trend in the foreign exchange market.....KINDLY READ THE FULL STORY HERE▶
Reports from both the parallel market and the FMDQ revealed a substantial depreciation of the naira. In the parallel market, the naira was traded as high as ₦1,517 per dollar earlier in the day, settling at ₦1,500 per dollar by evening. This marked a notable increase from the ₦1,450 per dollar rate observed over the weekend.
Meanwhile, in the official market, data from the FMDQ showed the naira falling to ₦1478.11 per dollar on Monday, down from ₦1466.31 the previous Friday, representing a decline of ₦11.8.
Speculations about an impending crackdown by the Economic and Financial Crimes Commission (EFCC) reportedly contributed to the fluctuations in the parallel market.
Olayemi Cardoso, the Governor of the Central Bank of Nigeria, reiterated the Monetary Policy Committee’s commitment to addressing the country’s soaring inflation rate, which stood at 33.22% in March 2024.
The persistent devaluation of the naira underscores ongoing economic challenges and highlights the difficulties faced by Nigeria’s financial regulators in stabilizing the currency and controlling inflation.
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Cape Verde head coach Bubista has stepped down after over six years at the helm to sign a two-year deal with Moroccan club RS Berkane, succeeding Moin Chaabani.....KINDLY READ THE FULL STORY HERE▶
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Bubista’s tenure with the Blue Sharks featured historic milestones, including reaching the 2023 Africa Cup of Nations (AFCON) quarter-finals and taking Argentina to extra time in a 3-2 defeat during the last 32 of the World Cup.
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Ivory Coast has officially welcomed back Herve Renard for his second stint as head coach, opting not to extend Emerse Fae’s contract following its expiration at the end of July.
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Renard, a two-time AFCON champion (with Zambia in 2012 and Ivory Coast in 2015), most recently managed Tunisia during the World Cup and is expected to arrive in Abidjan shortly.
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The post-World Cup coaching shuffle across African football also involves vacancies or recent changes for Algeria, South Africa, Senegal, Tunisia, and Ghana.
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BITTER TRUTH: Wike Unloads On Peter Obi, Exposing Deep Secrets Behind ‘Performative Politics’!.
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FCT Minister Nyesom Wike recently criticized the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, during a live media chat, accusing him of engaging in “performative politics” and playing to the gallery rather than showing true governance capacity.....KINDLY READ THE FULL STORY HERE▶
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Wike stated that his assessment stems from a personal, close familiarity with Obi’s character and administrative background, rejecting the popular public narrative surrounding the former Anambra State governor.
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The minister specifically took aim at Obi’s public charity visits and birthday celebrations at Internally Displaced Persons (IDP) camps and motherless homes, dismissing them as calculated public relations stunts designed to win sentimental political support.
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Shifting to economic matters, Wike defended the current administration’s removal of the fuel subsidy, arguing that true leadership demands the political will to enact tough, necessary reforms rather than yielding to populist sentiment or expecting decades-old problems to vanish overnight.
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THE ULTIMATE SHOCKER: Wike Drops Heavy Truths On Why Fubara Won’t Return As Governor In 2027!.
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FCT Minister Nyesom Wike declared during a live media broadcast on Channels Television that the Rivers State political crisis has cost Governor Siminalayi Fubara any chance at a second term.....KINDLY READ THE FULL STORY HERE▶
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Wike attributed the breakdown to poor guidance from Fubara’s new allies, external opportunists, and unnamed Senior Advocates of Nigeria whom he accused of exploiting the state’s financial resources.
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Reflecting on his transition of power, Wike noted that he left behind a fully renovated Government House and official vehicles, having started his own tenure having to borrow cars from former Ondo State Governor Olusegun Mimiko.
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The former Rivers governor expressed frustration that Fubara abandoned the foundational political structure that secured his victory in 2023, choosing instead to befriend former political adversaries.
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Wike claimed he has suffered zero political losses from the feud, asserting that Fubara is the sole casualty who has forfeited his re-election bid.
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According to the minister, past attempts at peace and reconciliation collapsed because certain political actors feared losing their relevance and influence in the state.
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Warning against external forces and opportunists treating Rivers State as a “cash cow,” Wike maintained that his camp firmly resisted attempts by outside interests to hijack the state’s resources and control.
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