So, last night it was revealed that the naira lost N4 to
the dollar to sell at N213 at the black market and N210 at the Bureau De
Change (BDCs) segment of the official market….and guess what, some Nigerians are happy about it.
A young man in his early 20s said “Omo, this is good, this is the best time for my peeps abroad to send me money, walahi, having 200 dollars now is enough to buy me a second hand car ‘ …even a few others I know who have got relatives abroad, feel the same way.
A dealer, who preferred
anonymity, told NAN that the depreciation might not be unconnected with
the closure of trading at the interbank market by the Central Bank of
The dealer also said that the CBN’s decision, which was meant to control
speculations in the market, might be responsible for the depreciation.
However, it exchanged against the euro at N235 at the BDCs, while it
sold for N237 at the black market.
On January 28, Godwin Emefiele, governor of the CBN, directed that only
BDCs and banks with genuine demand for foreign exchange should get forex
He said the apex bank put up measures to calm the strong volatility
observed in the forex market to save the naira from further
It increased the weekly supply of dollars per BDC operator from 15,000
dollars to 30,000 dollars and also set aside extra 30,000 dollars to the
The banking sector regulator said the move was part of measures to
deepen the BDCs segment.
president Goodluck Jonathan is insisting he didn't partake in the
postponement of the General elections, the United States-based New York
Times thinks otherwise.
In the editorial of its Monday edition titled, “Nigeria’s Miserable Choices”,
it opined that the postponement of the elections by the Independent
National Electoral Commission was orchestrated by President Goodluck
Jonathan to frustrate Maj. Gen Muhammadu Buhari (retd.) of the All
See excerpts below:
argument to delay the vote might be more credible if President Goodluck
Jonathan’s government had not spent much of the past year playing down
the threat posed by the militants and if there were a reasonable
expectation that the country’s weak military has the ability to improve
security in a matter of weeks.
“It appears more likely
that Mr. Jonathan...
the season of the African star Apple commonly known as agbalumo
"Yoruba", Udala/Udara "Igbo" or cherry in Nigeria. On my recent visit to
the local market, i noticed a crowd selecting fresh udara fruits from
baskets and i couldn't help but join in the fenzy. To me, a large crowd
simply meant the fruits were ripe and sweet. The vendors also don't
waste time in trying to lure you into buying as they usually give out
free fruit samples to prospective buyers once you come around. Back in
On her marriage being a year old?
It is like closing your eyes and opening them, that’s how it feels clocking
one. We woke up one morning and realized that it is a year already.
It is really unbelievable. We have been through a lot. If you are
married, you will understand the first year
is the most difficult time in marriage. We have had our own fair