Naira Rallies at N1,515 to Dollar in Parallel Market
The naira gained N15 against the dollar, closing at N1,515 in the parallel market, while depreciating by 0.94% in the official market to N1,523.85. This improvement followed increased dollar inflows and the Central Bank of Nigeria (CBN) settling over $1.3 billion in FX forwards. With $198 million remaining unsettled, reduced FX pressure is expected. The CBN also allowed International Oil Companies to sell 50% of their FX proceeds domestically and mandated electronic channels for Personal and Business Travel allowances to enhance market transparency and stability. Importers and SMEs continue to struggle with FX scarcity.
Ogun Govt to Shut Dirty Markets
Ogun State government warned markets to maintain cleanliness and proper waste disposal to prevent cholera spread. Special Adviser Abayomi Semako Hunye emphasized that improper waste disposal breeds rodents and vectors. The government has provided waste bins and services, yet some traders neglect proper disposal, leading to environmental and health issues. The government threatened to shut down dirty markets to enforce compliance and ensure public safety.
2027: NNPP, APC Trade Words Over Tinubu’s ‘Stance’ On Kano Emirates Tussle
The NNPP and APC in Kano State are clashing over President Bola Ahmed Tinubu's stance on the emirate crisis. NNPP Chairman Hashimu Dungurawa warned that Tinubu’s perceived indifference could hurt his 2027 re-election chances and announced Senator Rabiu Kwankwaso as their presidential candidate. APC Chairman Alhaji Abdullahi Abbas dismissed NNPP’s threats, confident in APC’s support in Kano. The emirate crisis began when Governor Yusuf reinstated the deposed Emir of Kano, leading to tensions and litigation. The APC maintains that the issue is before the courts and the president cannot intervene.
Ipswich Name Aluko First Team Coach
Former Super Eagles striker Sone Aluko has been appointed as a first team coach for Ipswich Town, an English Premier League club. Aluko, 35, retired from playing last season after scoring four goals in 62 appearances for Ipswich. He completed his coaching qualifications and will now join Kieran McKenna’s coaching staff. Aluko previously played for Aberdeen, Rangers, Hull City, and Fulham before joining Ipswich in 2021.