PRESIDENT TINUBU'S MESSAGE TO ALHAJI MOHAMMED IDRIS ON HIS 60TH BIRTHDAY. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS STATEMENT PRESIDENT TINUBU'S MESSAGE TO ALHAJI MOHAMMED IDRIS ON HIS 60TH BIRTHDAY I heartily congratulate Mohammed Idris Malagi, the Minister of Information and National Orientation, on his 60th birthday on May 2, 2026.   Mohammed is an excellent communicator, public relations executive, and media leader who has brought finesse, credibility, and gravitas to public communication in our administration.   His reputation precedes him. He has been at the forefront of the media and public relations industry as the founder and publisher of Blueprint Newspapers and as the chairman of a successful public relations consultancy and broadcast media outfit.   His role as general secretary of the Newspaper Proprietors' Association of Nigeria (NPAN) before his appointment distinguished him as a patriot and valued partner in nation-building.   I commend Mohammed for his diligence, brilliance and doggedness in communicating the achievements, policies, and prog...

NIGERIAN NAIRA FALLS TO RECORD LOW ON OFFICIAL MARKET.(PHOTO).


Nigerian naira falls to record low on official market

(Reuters) - Nigeria's naira dropped to a record low against the dollar on the official market on Tuesday in thin trading, swinging widely to levels seen on the unofficial parallel market, where the currency trades freely.

The naira fell as low as 1,248 to the dollar, during mid-day trading, LSEG data showed after it opened at 927 naira on Tuesday. It later recovered to 845 naira.

Central Bank of Nigeria Governor Olayemi Cardoso has said he would allow market forces to determine exchange rates while setting clear, transparent and harmonised rules governing market operations.

The comments and chronic dollar shortages on the official market have prompted the naira's official exchange rate to drift towards the parallel market level.

The currency sold at around 1,225 naira on the parallel market on Tuesday, while it was quoted at 1,002.50 naira on the one month non-deliverable forwards market .

 

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