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Naira Appreciates Against Dollar At Black Market Amid Sallah Holiday
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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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‘He was our bread winner’: Dad laments 28-Year-Old Lieutenant Killed in Oyo School Rescue Mission
The family of Lieutenant Felix Ademe Isaac, the 28-year-old Nigerian Army officer killed during the operation that rescued abducted teachers and pupils in Oyo State, has expressed deep grief, describing his death as a painful loss to both the family and the nation.
Lt. Isaac lost his life while leading troops during the military operation that secured the release of dozens of abducted teachers and schoolchildren from Oriire Local Government Area of Oyo State after 56 days in captivity.
His father, Mr. Isaac Alabura, a retired Master Warrant Officer, said the family was still struggling to come to terms with the tragedy.
Speaking to Daily Trust at his residence in Bachure Quarters, Yola, Adamawa State, Alabura described his late son as “the hope of the family and the community.”
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After 56 Days in Captivity, Oriire Parents Scared of Sending Rescued Kids Back to School
Parents of pupils kidnapped from schools in Oriire Local Government Area of Oyo State have expressed deep fears about returning their children to the classrooms, saying the traumatic experience of spending 56 days in captivity has left families unwilling to take further risks despite the successful rescue of the victims.
The pupils were among 39 schoolchildren and seven teachers, including a school principal, kidnapped when heavily armed terrorists attacked three schools in the Ahoro-Esiele and Yawota communities on May 15, 2026. Two teachers were killed during the incident, while the survivors were taken into forests around the Old Oyo National Park before security forces rescued them on July 10 after an intensive multi-agency operation.
Speaking after the victims regained their freedom, some parents said although they remain grateful to God, the Federal Government and security agencies for the rescue, the emotional scars left by the ordeal have made an immediate return to school difficult.
One parent said the fear among families remains overwhelming, stressing that parents must first be convinced the schools are secure before allowing their children to resume classes. Another relative, Basirat Adigun, noted that no parent wants to expose a child to another similar experience, insisting that visible and effective security measures must be put in place around the affected schools and communities.
News
Gunmen Kidnap 60-Year-Old Headmaster In Oyo, Demand N30m Ransom
A 60-year-old headmaster of Nomadic Basic School, Igbojaye, in Itesiwaju Local Government Area of Oyo State, Mr. Matthew Kolawale Owoade, popularly called “Onaiye”, has reportedly been kidnapped by unidentified gunmen.
It was gathered that the incident happened on Saturday evening, July 11, 2026, between 5:00 p.m. and 6:00 p.m.
According to his son, Mr. Abiola Owoade, the headmaster was on his way back from his farm when he was stopped and taken away by armed men.
Shortly after the abduction, the kidnappers allegedly called the family with the victim’s phone and demanded Thirty Million Naira (N30,000,000) for his release.
At about 8:20 a.m. on Sunday, July 12, 2026, a search team found the victim’s motorcycle abandoned in a bush.
Members of the family, colleagues, and the entire education community in Itesiwaju LGA have expressed sadness over the incident. They have called on the Nigeria Police Force, the Department of State Services (DSS), the Nigeria Security and Civil Defence Corps (NSCDC), and other security agencies to act fast to secure Mr. Kolawale’s immediate and unconditional release.
The public has also been urged to provide any information that could help ensure his safe return.
Confirming the incident, the Oyo State Police Command spokesperson, DSP Olayinka Ayanlade, said: “I can confirm to you that a farmer Mr. Owoade Mathew was kidnapped at his farm in Budo Aare and efforts are on to rescue the man unhurt and perpetrator arrested.”
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