The naira appreciated N1,580 per dollar in the parallel market, compared to N1,582 on Thursday.

However, the Naira depreciated to N1,538 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,538 per dollar from N1,536 per dollar Thursday, indicating N2 depreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N42 per dollar from N46 per dollar on Thursday.

However, in their Weekly Financial Market outlook for next week, analysts at CowryAsset Management Limited projected mixed performance for the naira as demand pressure deepened.

“Looking ahead, we anticipate a mixed outlook for the Naira as demand pressures for the greenback intensify, with foreign exchange, FX, users and speculators continuing to exploit arbitrage opportunities.

“ Nevertheless, we expect the CBN to sustain its weekly interventions in an effort to stabilise the local currency.”

The Special Adviser to President Bola Tinubu on Media and Public Communications, Sunday Dare, has defended the suspension of Rivers Governor Siminalayi Fubara, clarifying that the action was necessary and in line with the President’s constitutional responsibilities.

In a statement on Friday, March 21, Dare emphasised that Fubara’s suspension should not be confused with removal from office.

He further explained that Tinubu’s decision to intervene came in response to the ongoing political and security turmoil in the State, which had escalated to a point where presidential action was imperative.

Dare stated that the President’s intervention was a moral and legal obligation, mandated by the Constitution during times of crisis.

The statement reads in part: “In the case of Rivers state, turmoil and crisis had taken over. The rival stakeholders could not see their way toward resolution. Something had to be done before all became undone.

“In this case, President Tinubu stepped up as was his moral and legal obligation to do. In this case, the Constitution, the blueprint of our democracy spells out the options before the President in dire and emergency circumstances.

“The declaration of a state of emergency on Rivers state for 6-months is well within the stated powers of the President. This is settled by the very wording of the constitution itself and backed by judicial precedents. President Tinubu has not being overbearing.

“Since the declaration was made Nigerians have heard legal and political opinions and analyses of different shades. This discourse is healthy for our democracy but cannot substitute for the rule of law and the proper interpretation of our constitution.

“The frenzy by opponents of the President has hit a high pitch. They have placed themselves in opposition to what the law says about the powers and authority of the President because they have previously placed themselves in political opposition to the President.

“The powers conferred on the President in this instance and the will to use it when the situation warrants are the difference between an indecisive leader and a courageous, committed one.

“The Supreme Court understands this and is very careful in instances such as this.”

Popular Nollywood actress, Nkechi Nweje, is dead.

The actress, widely known for her motherly roles in numerous Nigerian films, died on March 21, 2025, after a brief illness.

Nweje, who was respected for her versatility and depth on screen, gained fame through her roles in movies such as Ikwo the Fighter, My Family, and Back from Congo.

Her ability to embody characters with grace and authenticity earned her admiration from fans and colleagues in the Nigerian movie industry.

Beyond her successful career, Nkechi Nweje was a dedicated family woman.

She was married to Dr. Azubuike Nweje, and the couple had six children, including their daughters Adaora Onyeka Nweje and Oma Nweje.

The news of her passing has sent shockwaves across Nollywood, with many actors and filmmakers expressing shock and sadness over her sudden demise.

Social media platforms have been flooded with tributes from fans and colleagues, who have described her as a talented, humble, and hardworking actress who left a lasting mark on the industry.

May her soul rest in peace.