The Naira appreciated against the United States Dollar at the black market for the first time in a while by N7 or 0.79 per cent to trade at N885/$1 on Sunday compared with the N892/$1 it was sold on Friday.

The strengthening of the domestic currency at the unauthorised segment of the foreign exchange (FX) market today was influenced by a moderation in speculative activities in the parallel market.

Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. What it means is that…you can buy or sell 1 dollar at ₦890 and the price can change (high or low) within hours.

Some days ago, the Central Bank of Nigeria (CBN) announced that it would redesign the higher Naira notes, precisely N200, N500, and N1,000.

This forced hoarders to rush to the parallel market and bypass the banking system to change their stashed funds into Dollars.

The second Abuja International Airport Runway project worth N92 billion would be ready before ending of next year, says Nigeria’s Aviation Minister, Sen. Hadi Sirika.

During a meeting with National Assembly joint committees in Abuja on Thursday, the Minister disclosed that the runway would be ready for use before the exit of the incumbent regime.

It was observed that last Friday, some customers bought Dollars above N900 at the black market, but the average price for the day stood at N892/$1, which was what this newspaper reported.