Naira Rises Against Dollar

After the victory of the All Progressives Congress candidate General Muhammadu Buhari in the presidential poll, the naira has begun to stabilize.

It appreciated by 7% to 211 against the United States dollar on the parallel market.

Nigeria’s currency, which sold for 228 against the dollar before the poll, rose to 211 on Wednesday, Bureau de Change operators said.

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PDP to challenge Buhari’s victory at tribunal

The Peoples Democratic Party has said that it will challenge the outcome of the March 28 presidential election.

The Independent National Electoral Commission through its Chairman and Chief Returning Officer, Prof. Attahiru Jega, on Wednesday declared Maj. Gen. Muhammadu Buhari of the All Progressives Congress as the winner of the election.

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Buhari tell Boko Haram, saying they would "soon know the strength of our collective will".

 

Muhammadu Buhari, has issued a defiant vow against militants Boko Haram, saying they would "soon know the strength of our collective will".

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Court stops AIT from further broadcasting ‘Lion of Bourdilion’, against Tinubu

An Ikeja High Court presided by Justice  Iyabo Akinkugbe Wednesday granted an order of interlocutory injunction restraining the African Independent Communication (AIT), from further broadcasting the documentary ‘Lion of Bourdilion’,

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External reserves fall by $1.6bn in March

The declining fortunes of the nation’s external reserve continued last month, as it fell by $1.55 billion during the month.

Data published by the Central Bank of Nigeria (CBN) indicated that the external reserve fell from $31.356 billion on February 27th February to $29.79 billion on Monday, March 30th. This represents 4.9 percent decline.

Consequently, the external reserve has fallen by $4.49 billion or 13 percent since the beginning of the year.

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Obama calls President-elect, Buhari

US President Barack Obama spoke to Nigerian President-elect Muhammadu Buhari and outgoing leader Goodluck Jonathan on Wednesday, praising both for their role in the country’s first democratic transfer of power.

Obama spoke to the men separately to “commend them for their leadership during Nigeria’s election,” the White House said.

Obama’s administration has lavished praise on Buhari and Jonathan following an election in Africa’s most populous country and its largest economy.

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