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The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange,the official forex trading portal, showed that the naira closed at 1375 per $1 on Tuesday, May 12th, 2026. The naira traded as high as 1367 to the dollar at the investors and exporters (I&E) window on Monday. […]
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By Boluwatife Oshadiya Key Points Main Story The Nigerian naira depreciated across major foreign exchange markets as mounting demand for dollars for offshore transactions and corporate settlements continued to pressure liquidity conditions. Data released by the Central Bank of Nigeria (CBN) showed that the intraday exchange rate weakened to as low as N1,375 per dollar, […]
By Boluwatife Oshadiya Key Points Main Story Deposit money banks reduced their placements at the Central Bank of Nigeria’s Standing Deposit Facility (SDF) window following aggressive liquidity mop-up operations conducted through Open Market Operations (OMO) auctions. The Central Bank sterilised approximately N3.3 trillion from the financial system through two separate OMO auc...
Keypoints Main Story The Lagos State Government has inaugurated a technical committee to drive commercial biogas and biomethane production across the state. The initiative is designed to reduce dependence on imported fuel and support cleaner, sustainable energy solutions for residents and businesses. Speaking at a ministerial press briefing in Lagos on Monday, May 11, 2026, [...
Keypoints Main Story Governor Ahmadu Fintiri of Adamawa State has officially launched the state’s E-Mobility Initiative, marking a transition toward sustainable transportation with the rollout of electric tricycles assembled in Yola. Speaking at the unveiling on Monday, May 11, 2026, Fintiri described the project as a transformational journey aimed at redefining energy access...