Naira Rises Against the US Dollar and Trades at ₦1,280/$ at the Black Market | 5 Things That Should Matter Today

Naira
  • Naira rises against the US dollar and trades at ₦1,280/$ at the black market
  • FG announces date to reopen Third Mainland Bridge
  • TCN alerts Nigerians about the restoration of the power grid
  • Air Peace commences ticket sales of Lagos-London flights
  • CBN discloses Nigeria earned over $1.5 billion in inflows

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

Naira rises against the US dollar and trades at ₦1,280/$ at the black market

Naira

The Nigerian currency has shown some positive growth in recent weeks, following the selling of dollars by the CBN to BDC operators.

The Naira was recently valued at ₦1,280/$ at the black market section of the foreign exchange market. This represents a 5.19% increase from its previous ₦1,350/$.

However, the naira depreciated at the official market as it now trades for ₦1,309/$, a 0.69% decrease from its earlier trading record, ₦1,300/$.

FG announces date to reopen Third Mainland Bridge

Third Mainland Bridge

The Minister of Works, David Umahi, has revealed the date of the reopening of the Third Mainland Bridge, stating that it would finally be open for public use within the next seven days.

The Minister hinted that most work on the bridge has been completed, and presently, the line markings are all left before reopening the bridge.

TCN alerts Nigerians about the restoration of the power grid

On March 28, the national power grid collapsed, plunging most of the country into darkness. However, the Transmission Company of Nigeria (TCN) has announced the restoration of the power grid.

The spokesperson for TCN, Mrs Ndidi Mbah, shared the news, “The grid has, however since been recovered and is stable, and is currently transmitting all the generated power to distribution load centres nationwide,”

Air Peace commences ticket sales of Lagos-London flights

Nigeria’s airline, Air Peace, announced that it has begun selling tickets for its Lagos-London trips at a cheaper rate.

The airline informed interested flight passengers that they could purchase the aeroplane tickets through its website.

Air Peace also stated that it has considered students; therefore, there is a discount for Nigerian students who desire to travel to the United Kingdom through the airline.

CBN discloses Nigeria earned over $1.5 billion in inflows

CBN

The Central Bank of Nigeria (CBN) has disclosed that the economy has documented $1.5 billion in inflows in days, proving that the monetary policies have been effective thus far.

The apex bank’s Acting Director of the Corporate Communications Department, Mrs Hakama Sidi Ali, made this announcement after noticing that the data available to the CBN indicated the inflows resulting from the recent policies.

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