AU COMMISSION CHAIRPERSON ARRIVES IN BAMAKO TO REVIVE DIALOGUE WITH MALI. (PHOTO).

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 AU Commission Chairperson Arrives in Bamako to Revive Dialogue With Mali Mahmoud Ali Youssouf arrived for a two-day official visit, according to an AU statement. He was welcomed by Mali’s Foreign Minister Abdoulaye Diop and is also expected to meet with President Assimi Goïta, it said, Sputnik reported. The visit comes as Mali remains suspended from AU activities since June 2021. The AU has reaffirmed its support for Mali’s sovereignty and territorial integrity while proposing increased assistance to the security sector.
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NAIRA APPRECIATE SIGNIFICANTLY AMID CBN INTERVENTION. (PHOTO).

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 Naira appreciates significantly amid CBN intervention


The Naira closed the week positively, appreciating marginally against the US Dollar at the Foreign Market amid the Central Bank of Nigeria’s sweeping policy interventions.


Data from FMDQ showed that the Naira appreciated N1,435.53 per US Dollar on Friday from N1461.90 on Thursday.


This represents a 1.8 per cent or 26.37 gain compared to N1461.90 recorded at the close of trading on Friday.


This is the second time the Naira has appreciated marginally in the week under review.


Similarly, the Naira recorded a gain at the parallel Market, which traded at 1,440 per US dollar on Friday from N1,470 the previous day.


In the last four days, CBN, under its Governor, Olayemi Cardoso, has released four policy reforms to wrestle down the free fall of Naira.


CBN also issued a guideline on Wednesday to curb foreign currency hoarding and speculation.


Also, during the week, the bank issued fresh guidelines for International Money Transfer Operators in Nigeria and removed the cap on the exchange rate quoted by IMTOs.


However, the most popular African nation’s currency, the Naira, hiked to N1,435.53 in the week under review from N891.90 per US dollar it traded seven days ago.

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