SOMALI PM CALLS ON SOMALILAND TO CUT ISRAEL TIES, URGES RECONCILIATION. (PHOTO).

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 Somali PM calls on Somaliland to cut Israel ties, urges reconciliation Somali Prime Minister Hamza Abdi Barre has called on Somaliland’s leadership to cut ties with Israel and to resolve disputes with the federal government through dialogue. Barre said relations among Somalis should be addressed through talks rather than confrontation, in remarks during a ceremony to mark the first anniversary of the establishment of North East State. In December 2025, Israel announced mutual recognition with Somaliland, a move strongly rejected by the Somali government as a breach of its sovereignty and territorial integrity and criticised by many countries across the world. “Regarding our brothers in Somaliland, I have nothing new to say. I repeat what we have always said: we call for Islam, brotherhood and Somali unity. These are the things that bind us together,” Barre said, TRT Afrika reported. He added: “Whatever mistakes have occurred between us, we are prepared, together with the Somali pe...
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NAIRA WEAKENS TO N1, 590 AGAINST THE DOLLAR IN THE PARALLEL MARKET. (PHOTO).

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 Naira weakens to N1,590 against the dollar in the parallel market.



The Naira dropped to N1,590 per dollar in the parallel market, down from N1,580 per dollar on Monday. In addition, the Naira fell to N1,582.09 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.


Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,582.09 per dollar from N1,570.99 per dollar on Monday, indicating an N11.1 depreciation for the Naira. The volume of dollars traded in the market declined by 18.2 percent to $201.43 million from $246.44 million traded on Monday.


As a result, the gap between the parallel market and NAFEM rate narrowed to N7.91 per dollar from N10.8 per dollar on Monday.


Isa Garba, a currency trader, attributed the Naira's depreciation to increased demand and low supply of the dollar.


Today, the Naira depreciated against the dollar by N10. I bought a dollar at N1580 and sold it for N1,590, compared to yesterday's rate. Today, there is less supply of dollars. The dollar was traded at N1,600 per dollar this morning and closed at N1,590.


"Due to the low supply, few traders were present in the market, adding to the demand and supply pressure."

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