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Naira Appreciates Against Dollar At Black Market Amid Sallah Holiday

Published

2 years ago

June 19, 2024

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The Naira appreciated marginally to N1480 against the dollar at the parallel foreign exchange market, also known as the black market, amid the Sallah holidays.

Dayyabu Ashiru, a bureau de change operator at Wuse Zone 4 in Abuja, disclosed this to DAILY POST on Tuesday.

He noted that demand for foreign exchange had remained flat due to the Eid-el-Kabir holiday.

According to him, the Naira was exchanged at N1,480 against the dollar on Tuesday compared between N1,490 to N1500 it was traded last Friday before the holiday.

“We buy at N1,460 against the dollar and sell at N1,480. This is an appreciation compared to the N1,490 to N1,500 it traded last week Friday. I think demand for FX dropped due to the Sallah celebration,” he said.

The development comes as the Nigeria government declared Monday and Tuesday public holidays to mark the Sallah celebration.

Consequently, official FX trading is expected to resume on Wednesday.

Last week Friday, FMDQ data showed that the Naira closed at N1482.72 against the dollar at the official market.

The continued fluctuations of the Naira in the FX market had been a source of concern to financial experts.

Director of the Centre for the Promotion of Private Enterprise, Muda Yusuf, said the fluctuation of the Naira against the dollar is a contributing factor to Nigeria’s soaring inflation, which rose to 33.95 per cent in May 2024.

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Norwegian Air adorns British Airways logo for 24hrs after losing 2026 World Cup wager

Published

23 minutes ago

July 13, 2026

EMMANUEL AGAJI

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Norwegian Air Shuttle, has changed its logo to that of British Airways on Instagram after losing a bet on the 2026 FIFA World Cup quarter-final match between England and Norway on Saturday.

Ahead of the high-profile match, Norwegian Air challenged British Airways to a wager that would see the losing airline replace its Instagram profile picture with the winner’s logo for 24 hours.

Hey @british_airways, do you wanna make

a bet? If Norway wins, you have to switch to our logo on Instagram on Sunday (one day). And vice versa. Deal?,” Norwegian Air posted on Instagram before the match.

British Airways wasted no time accepting the friendly offer, warning the challenger against biting off more than they could chew, writing “Don’t make bets you can’t win.”

During the match, it was the Norwegians who landed the first blow after Andreas Schjelderup opened the scoring for them in 36th minute, firing home the ball over goalkeeper Jordan Pickford, who was caught off his line.

It was looking like Norway would take the lead into the break until Jude Bellingham drove a pass from Anthony Gordon into the box before latching it into the net from close range to equalise for England.

Neither side was able to find the net in the second half, forcing the match into extra time when Bellingham scored within its first three minutes, which ended up being the winning goal of the match to send England into the semifinals.

Following Norway’s defeat, Norwegian Air acknowledged the result and immediately fulfilled the bet’s condition by swapping its Instagram profile picture for the logo of British Airways.

“While the tournament is over for us, this friendly bet will forever live in all our hearts. We wish England and

@british_airways all the best in the semi-final, and we sincerely hope you’ll get to bring football home!,” Norwegian Air said in response to losing the bet.

Also, British Airways thanked its Norwegian Airways counterpart for the challenge, assuring that both England and Norway would remain friends forever.

“Rivals for 90 minutes, friends forever. A little competition keeps things interesting, thanks for challenging us @flynorwegian! Well done to the England team on qualifying for the World Cup semi-finals! It’s coming home!,” the airline said.

Nevertheless, the World Cup marked a historic milestone for Norway because it’s the first time the Scandinavian nation reached the tournament’s quarter-finals.

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One dies, seven injured as Gombe Assembly Complex under construction collapses

Published

30 minutes ago

July 13, 2026

EMMANUEL AGAJI

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It was a sad tale as the collapse of the Gombe State House of Assembly complex under construction has claimed one life and left seven others injured.

The incident occurred on Friday when a section of the building gave way, trapping construction workers beneath the debris before emergency responders launched a rescue operation.

Head of Operations, National Emergency Management Agency (NEMA), Gombe Operations Office, Ahmed Ummanah, confirmed the incident, stating that all the trapped workers were rescued from the rubble.

He disclosed that three of the injured victims were taken to the Federal Teaching Hospital (FTH), Gombe, while five others were evacuated to the Gombe State Specialist Hospital for medical treatment. He added that some of the victims sustained severe injuries.

The construction company handling the project had yet to issue an official statement on the incident as efforts to obtain its reaction were unsuccessful.

Authorities have commenced investigations to determine the cause of the building collapse, while safety experts are expected to assess the structural integrity of the project.