Experiencing a continuous decrease in value in the parallel market, the Nigerian Naira has been trading between N405 and N420 to a dollar in some Bureau De Change facilities.   Aminu Gwadabe, the President of the Association of Bureaux De Change Operators of Nigeria (ABCON), attributed the downward trend to the crash in crude oil prices.   The Central Bank of Nigeria, in response, accused stakeholders in the foreign exchange market of causing panic by hoarding dollars in anticipation of a potential devaluation of the naira. The apex bank stated:   “These rumors are baseless, unnecessary, and motivated by selfish interests. A comprehensive investigation, in collaboration with the Nigerian Financial Intelligence ...

Amid a continuous decline, the Nigerian Naira was traded at rates between N405 and N420 to a dollar in some Bureau De Change facilities on March 12, 2024.   The President of Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe attributed the situation to the plummeting price of crude oil.   Meanwhile, the Central Bank of Nigeria blamed forex market stakeholders for causing panic by hoarding dollars due to speculation about a potential devaluation of the naira. In a statement, the apex bank said:   “These rumors are false, unwarranted and calculated to serve their dubious and selfish ends. We have begun a robust and coordinated investigation in collaboration with the Nigerian Financial Intelligence Unit and related agencies to u...

Sub-Saharan African countries, Gabon and Ghana, have reported their first cases of coronavirus. This news makes them the ninth and tenth countries in the region to record positive cases of the COVID-19 virus.   Gabon's government announced that the infected individual is a 27-year-old Gabonese man who returned from France on March 8. Meanwhile, Ghana's health ministry stated that their two cases were individuals who recently returned from Norway and Turkey.   The ministry mentioned, "These are imported cases of COVID-19. Both patients are currently being kept in isolation and are stable."   COVID-19 cases have also been confirmed in Ivory Coast, Nigeria, Senegal, Cameroon, Togo, South Africa, Burkina Faso, and the Democratic Republic of Congo.   Worldwide, the number of infections ...

Former Big Brother Naija contestant, Gifty Powers, strongly criticized the Nigerian government while expressing admiration for Ghana. She suggested that Ghana should be referred to as the "Giant of Africa" instead of Nigeria. Gifty's remarks were prompted by an article highlighting the Kolkata International Airport as Africa's best and most improved airport. She conveyed her frustration with the Nigerian government, emphasizing the need for them to prioritize the country's development over their personal interests. Gifty also voiced her annoyance at the negative perception of Nigeria by foreigners, urging the government to address issues that contribute to the country's unfavorable reputation. She concluded by highlighting the significance of acknowledging shortcomings and striving for im...