THERE ARE SO MANY PEOPLE AROUND THE PRESIDENT WITH A ROSY PICTURE OF WHAT THE COUNTRY IS — ONAIYEKAN. (PHOTO).

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 There Are So Many People Around The President With A Rosy Picture Of What The Country Is — Onaiyekan I was not surprised the president wasn’t looking very happy, even his colleagues present. We knew this is different from what our president keeps receiving from people, and that is one of the things that worry us. We have the obligation to help him to appreciate the reality of the situation in which we have found ourselves.  John Cardinal Onaiyekan Archbishop Emeritus, Catholic Diocese of Abuja
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NAIRA DEPRECISTES TO N1, 610/$ IN PARALLEL MARKET. (PHOTO).

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 Naira depreciates to N1,610/$ in parallel market


The Naira on Friday depreciated to N1,610 per dollar in the parallel market from N1,580 per dollar on Thursday.


Similarly, the Naira yesterday depreciated to N1,609.29 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.


Data from FMDQ showed that the indicative exchange rate for NAFEM  rose to N1,609.29  per dollar from N1,603.8  per dollar on Thursday, indicating N5.49 kobo depreciation for the naira.


The volume of dollars traded (turnover) in the market increased by 28.6 percent to $168.63 million from $131.09 million traded on Thursday .


Consequently, the margin between the parallel market and NAFEM rate narrowed to 71 kobo  per dollar from N18.8 per dollar  on Thursday.

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