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CBN Devalues Naira, Sets Exchange Rate at N631/$1

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CBN Devalues Naira, Sets Exchange Rate at N631/$1

According to a report by Daily Trust, the Central Bank of Nigeria (CBN) has reportedly devalued the Naira, setting the exchange rate at N631 to the US dollar. This new rate is a significant decrease from the previous day’s rate of N461.6, which was used at the Importers and Exporters (I&E) window.

CBN Governor-Godwin Emefiele

The devaluation comes just 48 hours after President Bola Ahmed Tinubu announced the Federal Government’s plans to unify the country’s exchange rate in order to stimulate the economy.

The president emphasized the need for a comprehensive review of monetary policy, stating that a unified exchange rate would redirect funds from arbitrage activities to more productive investments in machinery, infrastructure, and job creation.

READ ALSO- ”TUNDE EDNUT WANTED ME TO GO TO JAIL BECAUSE HE’S OWING ME”- AFROBEAT SINGER, SEUN KUTI

During the weekly bidding for foreign exchange, the CBN sold the dollar at the rate of N631 to banks on behalf of their customers, with most bidders receiving the full requested amount. As a result of this move, prices in the parallel market have also started to decline.

Hi, I'm [Oluwafemi Talabi, popularly known as PEN GOSSIPER], and I'm passionate about bringing you the latest and most relevant news from around the world. I started this blog in [2016] as a way to share my insights and opinions on current events, politics, culture, and more. My goal is to inform, educate, and entertain you with engaging and well-researched content. Whether you're looking for breaking news, analysis, commentary, or stories that matter, you'll find them here on [FMT BLOG femotech.com.ng]. I hope you enjoy reading my blog as much as I enjoy writing it. Thank you for your support and feedback. Feel free to contact me anytime at [fmtblog4u@gmail.com]

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Viral Gists

Download Wura Season 4 (Episode 5 Added)

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Wura Season 4 (Episode 5 Added)

SERIES SYNOPSIS:

Wura-Amoo Adeleke has it all. A perfect marriage, a loving family, and a thriving business, but behind the image of a devoted wife and mother lies a ruthless CEO who will stop at nothing to protect her power.

SERIES INFO:

Filesize: 88.70 MB

Duration: 28m

Imdb: https://www.imdb.com/title/tt26689336

Title: Wura

Year: 2023

Type: TVSeries

Country: Nigeria

Language: English

Genre: Drama

Stars: Scarlet Gomez, Yomi Fash-Lanso, Martha Ehinome, Ray Adeka, Iremide Adeoye, Ego Ihenacho, Adediwura Lanre, Adeola Awodein, Toluwani George, Modesinuola Ogundiwin

Total Episodes:6

Status:Ongoing

Subtitle: English

DOWNLOAD EPISODE 1

DOWNLOAD EPISODE 2

DOWNLOAD EPISODE 3

DOWNLOAD EPISODE 4

DOWNLOAD EPISODE 5

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Viral Gists

Dating A Short Man Feels Like I Am Dating My Son— Diminutive Ghanaian Woman (Video)

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A short-statured Ghanaian woman has sparked online debate after making contentious remarks regarding her romantic relationship preferences.

Diminutive Ghanaian Woman

During a recent interview with De God Son TV, the diminutive lady expressed her aversion to dating guys of shorter height despite her diminutive Ghanaian woman. She remarked that short men do not match her “specifications” for relationships.

When questioned about her explanation, she stated that she sees shorter men as resembling infants, even though they are adults.

“I have a 7-year-old son, so dating a short man feels like dating my son,” she explained, finding parallels between her personal and romantic lives.

Watch the video below.

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Celebrity

Davido Trends As His New Rolls Royce And Tesla Cybertruck Land In Nigeria (PHOTOS)

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Davido tesla cybertruck
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Once again, Nigerian singer Davido has made headlines for proving his status as a rich man with two luxury cars entering Nigeria: a Rolls-Royce and a Tesla Cybertruck.

Davido

The musician posted a picture of the trip on social media, his pure white Rolls Royce parked on the runway, ready for shipment.

https://femotech.com.ng/coming-out-as-hiv-positive-was-harder-than-coming-out-as-gay-gay-rights-activist-bisi-alimi-video/

Another photo depicted the Tesla Cybertruck being loaded into an aircraft to verify the truck’s arrival in Nigeria.

Davido tesla cybertrucks

Cubana Chief Priest, another close associate and entrepreneur, also saluted the new cars with an Instagram image. He congratulated Davido on his feats, dubbed him the “GOAT,” and hinted at a festive December with new vehicles added to the singer’s collection.

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Davido tesla cybertrucks
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