CBN Policies Push Naira To N1,150/$ At Parallel Market
Photo credit: Leadership News
The value of the naira gained strength at the parallel market on Thursday as the three-day public holiday was rounding up, selling around N1,150 to the dollar compared to N1,200 which it sold on Monday this week.
The appreciation of the naira on the streets is being driven by the policies of the Central Bank of Nigeria(CBN) which includes disbursing dollars to Bureau de Change (BDC) operators at the lower band of the previous trading at the Nigeria Autonomous Foreign Exchange Market (NAFEM).
Traders note that the CBN policies coupled with a lower demand for the greenback and the prolonged holiday had seen the appreciation in the value of the naira on Thursday.
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Govt shuts Dosunmu market, Sanwo-Olu hints at building demolition
Governor Babajide Sanwo-Olu of Lagos State has vowed that more buildings will be demolished to allow for proper cleanup of the Dosunmu market.
Sanwo-Olu disclosed this on Thursday when he visited the market, which was gutted by fire on Tuesday.
The fire destroyed no fewer than 14 buildings, with four buildings collapsing, according to the Lagos Territorial Coordinator of the National Emergency Management Authority, Ibrahim Farinloye.
Sanwo-Olu, who described the disaster as “preventable,” blamed it on carelessness.
In a post on X, the governor said, “Dosunmu Market will remain closed until we can ensure the safety of all structures and compliance with regulations. Unapproved buildings will be demolished. Our commitment to safety and order in our markets is unwavering.”
Mohbad: Lagos monarch denies fathering late singer’s son
Photo credit:Punch newspapers
As the controversy surrounding the death of the late singer, Ilerioluwa Aloba, also known as Mohbad, and the paternity of his son continues to escalate, the Elegushi of the IkateElegushi Kingdom, Lagos State, Oba Saheed Elegushi, has refuted rumours accusing him of being the father of the late singer’s son, Liam Aloba.
The monarch, in a statement through his media consultant, Deyemi Saka, obtained by PUNCH Metro on Thursday, described the insinuations by some social media users that he could have fathered the son of the late singer as a desperate attempt to tarnish his reputation by dragging him into the paternity dispute of Liam.
Mohbad passed away at the age of 27 in September 2023, with his demise sparking widespread protests in some parts of the country, and many of his fans demanding justice for the former Marlian Records signee.
2023 election: I stopped my supporters from being violent – Adebutu
Photo credit:Punch newspapers
The governorship candidate of the Peoples Democratic Party during the 2023 elections in Ogun State, Ladi Adebutu, on Thursday, explained why he lost the governorship election to Gov Dapo Abiodun of the All Progressives Congress.
Both politicians, Abiodun and Adebutu, are kinsmen from Iperu Remo in the Ikenne Local Government Area of the state.
Adebutu said he lost the elections because he refused to toe the path of violence and spilling of blood.
The former federal lawmaker reprensenting Remo Federal Constituency said he particularly prevented his supporters from matching violence with violence in all the 99 polling units where voting processes were allegedly disrupted by thugs.
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