Dollar hits N600 at parallel market
On Monday, May 16, the dollar was swapped at N600 on the parallel market.
On Monday, currency dealers in Uyo exchanged the Naira for N595.00 and sold it for between N596.00 and N600.00 per dollar, while black market dealers in Abuja's Wuse Zone 4 said the currency was converted for N594.00 and sold for N595.00 per dollar.
The Naira, which commenced trading at N417.30 to a dollar on Monday, May 16, concluded at N421.50 to a dollar at the close of business on FMDQ, where forex is legally exchanged.
Fears of a further devaluation of the national currency have grown as the local currency has depreciated.
Unknown Gunmen Hailed and Cheered in Aba Market
It was a show of force yesterday in Aba market as some masked Unknown Gunmen Storm Ariaria International Market Aba to announce the 5th & 6th May sit-at-home order.The sit at home is aimed to Boycott President Muhammadu Buhari trip to Ebony state.People are cheering and clapping for them.It will be noted that there has been various accusations about who the gunmen are, while some claim they are IPOB members, many claim they are DSS.
Fire Razed Popular Market in Lagos
The popular Balogun market in Lagos state was early this morning razed by fire, the immediate cause of the incident cannot be ascertained as at the time of this report.Marketers who came this morning with the hope of a promising day in anticipation of the festive season sales where heartbroken seeing their shops and goods worth millions of naira burnt to ashes.
UK Fuel Scarcity: 6 Nigerians Arrested for Operating Black Market
As the United Kingdom continue to be hit with unprecedented fuel paucity, the situation has led to the arrest of no fewer than Nigerians for hoarding Fuel in Jerry cans and selling at exorbitant prices.According to the UK police spokesman Greg Smith, some of the Nigerians arrested include Kenneth Obiora (M), Chukwuma Ahamba (M), Gift Nwankwo (F), Kelechi Amadi (M), Afamefula Nkemdiri (M), and Ernest Okoye (M).Smith says they will be charged to court on offence bothe...
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