Again, Naira depreciates by N64 against Dollar at forex market

Published

9 months ago

April 23, 2024

Naijablitz

Again, the Naira lost N64.5 against the US dollar in the foreign exchange market.

FMDQ data indicated that the Naira depreciated to N1,234.49 per US dollar on Monday compared to N1,169.99 on Friday.

Similarly, the parallel forex market tumbled to N1200 per Dollar on Monday from N1,100 on Friday.

The development comes after the Naira depreciated three times last week after months of gains.

Recall that the Economic and Financial Crime Commission resumed clamping down on cryptocurrency platforms in Nigeria amid the recent rise of the Dollar in the FX market.

Although analysts blamed the depletion of Nigeria’s foreign reserves for the Naira depreciation, the Central Bank of Nigeria, Governor Olayemi Cardoso, said it is due to foreign loan repayment.

As of April 15, the country’s FX reserves dropped to $32.29 billion.

Canadian Prime Minister to resign – Report

Published

1 hour ago

January 6, 2025

Naijablitznews

Canadian Prime Minister Justin Trudeau is expected to step down as early as Monday.

Following reports, the Globe and Mail broke the story first on Sunday night, citing three sources.

It is unclear when Trudeau will step down, but it is anticipated to happen before a national caucus meeting on Wednesday.

Trudeau’s popularity is expected to decline in Canada as a result of a number of issues, including a housing crisis, a declining per-capita GDP, and high inflation.

As of December 24, his disapproval rate was approximately 68%, with only 28% of Canadians supporting him.

Bride reportedly ‘vanishes’ 24hrs to her wedding in Plateau

Published

2 hours ago

January 6, 2025

Naijablitznews

A bride-to-be identified as Nansik Dashe, reportedly ran away one day to her wedding in Plateau State.

The wedding between Nansik and Kapnan Daniel Ventur, was scheduled to be held on December 27, 2024, at COCIN LCC, NIMTIM, PIL Gani in Langtang North Local Government Area of the state.

It was gathered that Dashe disappeared on December 26, after developing cold feet, leaving the groom and family members stranded.

It was further learnt that her whereabouts is unknown.

Osimhen transfer to Man U: Club seeks discount on £62m release clause

Published

2 hours ago

January 6, 2025

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The club is exploring creative strategies to bring the Nigerian who’s on a season-long loan to Galatasaray from Napoli, to Old Trafford, which may include player exchanges to help offset costs.

According to Calciomercato journalist Daniele Longo, United’s recruitment team is working on a plan to negotiate a deal with Napoli that would allow them to pay less than Osimhen’s £62 million release clause.

This approach shows the club’s serious intent to strengthen their attacking options under new manager Ruben Amorim.

In a decisive move, United is reportedly considering the sale of Joshua Zirkzee to facilitate the transfer.

The Dutch striker, who has struggled to make an impact since his arrival last summer, could be used to raise funds and reduce the overall cost of the deal

However, Manchester United faces stiff competition for Osimhen’s signature, as Paris Saint-Germain has also expressed interest, adding urgency to United’s negotiations.

The interest from the French giants could potentially drive up Osimhen’s price and complicate United’s plans.

Currently on loan at Galatasaray, Osimhen has been in impressive form this season, scoring 12 goals in 15 competitive appearances.

His potential arrival at Old Trafford could provide the firepower that United desperately needs to climb up the Premier League table.