Naira down to N758 at parallel market

Naira fell against the U.S. dollar at both the official and unofficial markets on Tuesday, slipping to a record low at the unauthorised market amidst continuing scarcity and high demand of the greenback.

Naira which commenced trading at N440.58 per $1 at the spot market declined to N441.67 per dollar at the close of sales.

This implies a 0.07 per cent devaluation from N441.38 it exchanged in the previous session on Monday.

Foreign exchange supply rose to $79.41 million on Tuesday, representing 101.2 per cent increase from $39.47 million on Monday.

Similarly, the local unit crashed significantly at the street market on Tuesday, parallel market exchange rates reviewed across states showed.

Currency dealers at the Abuja Zone 4 market said the dollar was exchanged at N758.00 on Tuesday as against N755.00 it traded on Monday. It sold at N761.00 and above on Tuesday evening, the traders said.

“It was trading at N760.00 per $1 in the morning, but it dropped to N758.00 for $1 this evening. I don’t know if it will continue to increase or decrease by tomorrow,” a currency dealer at the market told premium time.

Comments

JUST IN: If Tinubu Had Told Me, I Wouldn’t Have Agreed To Rivers State Of Emergency Rule – Wike

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has stated that he would not have agreed with President Bola Ahmed Tinubu if he had discussed his move to declare a State of Emergency in Rivers State. Wike noted that he is not in conflict with the suspended Rivers State Governor, Sim Fubara He stressed his opposition on the State of Emergency rule, stating that only the President knows the right time to lift it. While speaking to journalists in Abuja on Monday, Wike remarked that Fubara has permitted himself to be manipulated by his adversaries to oppose him. The FCT Minister said: “ I made it clear that this impunity will not stand, so what is happening in PDP is what I call undertakers because I see no reason why you will put yourself under that kind of crisis. “I don’t have any crisis with him (Fubara). I’m not the President who declared a State of Emergency; if Mr President had called me, I wouldn’t have agreed to the State of Emergenc...

Breaking: ASUU suspends 2-week warning strike

The Academic Staff Union of Universities, ASUU, has suspended its two-week warning strike it declared last week across all public universities in the country. The union announced the suspension on Wednesday at a press conference held at its headquarters in Abuja. President of ASUU, Chris Piwuna, who read a prepared speech before newsmen, explained that the development followed intervention by the Senate and some other well-meaning Nigerians. However, he sad the National Executive Council of the Union resolved to give the government a one-month window to address all contending areas.

Woman Burned to Death, Accused of Kidnapping 7yrs Old Boy in Delta

By Tessy ogbemi An angry mob set ablaze a woman accused in a failed child kidnapping attempt in Agbarho community, Ughelli North Local Government Area of Delta State. The incident happened on Wednesday, September 24, 2025. An eyewitness disclosed at the scene of the incident at Ekwvere Road claimed that the woman hid the seven year old boy she allegedly abducted in a sack, adding that she was even carrying a Bible on one hand. Community sources said some residents in the area accosted the lady when they observed the way she was dragging the sack, to know what she had in it. "She was unstable when they asked her to disclose what she was carrying in the sack. When the bag was forced open, they found a seven year old child in it. They shouted and it attracted a large crowd,” a source said. It was gathered that the angry mob immediately brought a used tyre to the scene, which they forced down her neck after beating her to a pulp. “The lady and the tyre we...

FocalPoint Reports

Search This Blog