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Dollar Tumbles Against Naira At Parallel Market
Dollar Tumbles Against Naira At Parallel Market
Sahara Weekly Reports That The naira sustained its appreciation against the United States dollar at the parallel market as it appreciated on Friday, from N1,160 to N1,155.
This represents 0.43 percent (N5) gain than N1,160 exchanged on Thursday at the parallel market.
It could be recalled that the naira had steadied in the parallel market on Wednesday and Thursday as it sells for N1,160 respectively.
However, the forex turnover, on Thursday, hit $105.50million according to data from NAFEM, the Nigerian Autonomous Foreign Exchange Market, the market trading segment for Investors, Exporters and End-users.
The turnover represents the amount of dollars traded at a particular trading day.
Although the rate is still unpalatable to the business community and Nigerians at large but a management consultant, Babatunde Adeniji, said the naira crisis is being largely driven by speculation following the country’s liquidity challenge.
“In terms of price, for the short time it is speculation that drives things. If you are a trader and you want to take a bet, with the level of distrust of the government, with no clear visible assurance of where the dollar is coming from to stabilise the naira, which position would you take? You are bound to take the position skewed towards the dollar,” he stated.
He said the country would begin to heave a sigh of relief when the authorities can pay up all the backlog of foreign exchange forwards with sufficient liquidity to meet pending obligations.
“Nigeria as a country does not have enough dollars to meet its promise. If we don’t do things that are substantial and visible, all that grammar would not help.
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APC Ondo North Primary: Reports Show ATM in Early Lead
Reports from the field in Ondo North Senatorial District indicate that voters, officers, and agents at the voting centers across the wards have put Abdul Tunji Mohammed (ATM) in the lead.
According to the current figures collated from the centers, ATM is polling with wider margins of votes
Going by these figures, ATM is poised to win all the six Local Government in the Senatorial Districtt.
We urge all party members and supporters to remain peaceful as collation continues.
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Senate Leader Opeyemi Bamidele Hosts Ondo North Aspirant Abdul Tunji Mohammed, Backs Grassroots Development Agenda
Senate Leader Opeyemi Bamidele recently hosted Chief Abdul Tunji Mohammed (ATM), a prominent aspirant for the Ondo North senatorial seat.
The meeting highlighted a strategic alignment between progressive forces, with both leaders emphasizing a shared vision for grassroots development and legislative excellence.
Senator Bamidele, a respected figure in Nigerian politics, is recognized for his contributions to national cohesion and impactful policymaking, drawing on his experience as a legal luminary and human rights activist.
Chief Mohammed, an astute businessman and dedicated grassroots mobilizer, has made a notable impact on Ondo North through his philanthropic work and commitment to constituents’ welfare. His approach blends corporate discipline, economic ingenuity, and a deep concern for people—qualities that have reshaped the region’s political narrative.
The two leaders discussed the district’s critical needs, exploring avenues for socioeconomic growth, legislative reform, and stronger community integration. Senator Bamidele stressed the importance of supporting President Bola Ahmed Tinubu’s Renewed Hope Agenda, a sentiment echoed by Chief Mohammed.
The convergence of Chief Mohammed’s vision with Senator Bamidele’s legislative experience offers hope for Ondo North. This synergy between grassroots ambition and seasoned mentorship points to a promising future for the district’s representation in the Senate. With ATM’s drive and the guidance of leaders like Senator Bamidele, Ondo North is positioned for progress and transformative governance.
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2027 Ondo North Senate: ATM secures Backing of Monarchs, Chiefs
APC Senatorial aspirant for Ondo North, Abdul Tunji Mohammed, popularly known as ATM, received a resounding endorsement on Thursday during a high-profile visit to Ikare-Akoko.
The endorsement came from the Olukare of Ikare, His Royal Majesty Oba Akadiri Momoh IV, the Owa Ale of Ikare, His Royal Majesty Oba Adeleke Adedoyin, and the Ikare Council of Chiefs, who described ATM as a credible son of the soil with the capacity to represent Ondo North effectively at the Senate.
Speaking at the palace, the Olukare commended ATM for his consistent engagement with the people and his track record in business and community development. “We have watched your contributions to Ondo North over the years. You are one of us, and we believe you have the experience and character to speak for our people in Abuja,” the monarch said.
The Owa Ale, in his remarks, stressed the need for unity and quality representation. He urge him to continue the help to the people at home that he’s doing. He urged other stakeholders to support aspirants with proven commitment to the district’s progress, noting that Ikare and Akoko land require strong voices at the National Assembly.
In his response, Abdul Tunji Mohammed thanked the monarchs and chiefs for their blessings and trust. He reaffirmed his commitment to prioritize infrastructure, education, healthcare, youth empowerment, and agricultural development if elected.
“Ikare is central to Ondo North, and your support strengthens my resolve to serve with integrity and results. I will not betray this trust. My campaign will remain issue-based, and my representation will reflect the hopes of our people,” ATM stated.
The visit was marked by prayers, cultural displays, and solidarity from party leaders, youth, and women groups across Ikare-Akoko.
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