AGAIN, GOV DIRI TASKS TRADITIONAL RULERS TO MAINTAIN PEACE, SECURITY AT KING AWALA'S CORONATION . (PHOTOS). #PRESS RELEASE

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 Again, Gov Diri Tasks Traditional Rulers To Maintain Peace, Security At King Awala's Coronation  Bayelsa State Governor, Senator Douye Diri, has again urged traditional rulers to remain focused on the maintenance of peace, security and stability in their various domains as part of their contribution towards the development of the state. Governor Diri made the call at the weekend during the coronation ceremony ofHis Royal Majesty King Victor Awala, Ebeni-Ibe the Eighth (VIII) of Atissa Kingdom in the Yenagoa Local Government Area of Bayelsa State, at the Bishop Dimieari Grammar School, Yenagoa, the state capital. Represented by his deputy, Dr Peter Akpe, the Bayelsa Chief Executive acknowledged the critical role traditional rulers play in society as the custodians of culture and tradition, stressing that his administration will continue to hold them in high esteem. Expressing gratitude to the Chiefs and people of Epie-Atissa for their peaceful disposition, Governor Diri, noted...
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NAIRA DEPRECIATES TO N1, 500/$ AT PARALLEL MARKET. (PHOTO).

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Naira depreciates to N1,500/$ at parallel market

The Nigerian naira, on Wednesday, depreciated to N1,500 at the parallel section of the market.

The rate is a 3.45 percent decrease from the N1,450 per dollar recorded on Monday.

Currency traders in Lagos, also known as Bureau De Change operators (BDCs), quoted the buying rate of the greenback at N1,490 and the selling price at N1,500 — leaving a profit margin of N10.

At the official window, the local currency appreciated by 1.05 percent to N1,418/$ on Wednesday — from N1,433/$ on Tuesday.

According to FMDQ Exchange, a platform that oversees official foreign exchange (FX) trading in Nigeria, the naira traded as high as N1,510 and as low as N896.28 — with a daily turnover of $203.93 million.

Meanwhile, on February 1, 2024, the Central Bank of Nigeria (CBN), continued its foreign exchange market reforms by removing the limit on the FX rate quoted by international money transfer operators (IMTOs).

“For the avoidance of doubt, by this circular, the cap on allowable limit of -2.5% to +2.5% around the previous day’s closing rate of the Nigerian Foreign Exchange Market is hereby removed,” the apex bank said.

CBN instructed the money transfer operators to quote exchange rates based on the prevailing market rates at the FX market.

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