The Nigerian naira recorded its highest depreciation against the dollar this week at the official foreign exchange market amid United States of America President, Donald Trump’s tariff announcement.

The Central Bank of Nigeria’s exchange data showed that it dropped to N1,552.53 per dollar on Thursday from N1,531.25 traded on Wednesday.

This means that the naira slumped by N21.28 against the dollar on Thursday compared to N1,531.25 exchanged the previous day.

This is the highest depreciation against the dollar on a single day since March 22, when the currency dropped by N18.96 weekly at the official market.

Similarly, at the black market, the naira weakened by N5 on Thursday to N1,560 per dollar from N1,555 traded on Wednesday.

The development comes despite CBN’s announcement that the country’s Net Foreign Exchange Reserve (NFER) as of the end of 2024 stood at $23.11 billion, the highest level in over three years.

The drop in the naira at both official and parallel foreign exchange markets follows Trump’s administration’s tariff announcement on Wednesday, which sparked outrage across the world.

Economic experts said Trump’s 10 percent baseline tariffs would affect US-Nigeria trade worth $10 billion.

The chief executive officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf on Thursday in a statement said Trump’s tariff would affect Nigeria’s economy because it has brought an end to the African Growth and Opportunity Act.

Justice Binta Fatima Nyako of the Federal High Court in Abuja has barred parties in the suit filed by suspended Senator Natasha Akpoti-Uduaghan against the President of the Senate, Godswill Akpabio, and three others from granting press interviews on issues relating to the case.

The judge issued the order on Friday following a complaint by the lawyer to Akpabio, Kehinde Ogunwumiju (SAN), that the plaintiff was moving from one television house to another, granting press interviews on issues relating to her case, which is currently pending before the court.

In a brief ruling, Justice Nyako said there shall be no press interviews by all parties and their lawyers regarding the subject matter of the case.

Justice Nyako also barred parties and their lawyers from engaging in streaming the proceedings of the case on social media.

Details shortly.

…. Says, Lagosians are to kindly use the bride from today, 4th April 2025.

The Minister of Works, Sen. Dave Umahi, has re-opened the Independence Bridge (Ahmadu Bello Way-Marina bound) to vehicular traffic.

The government had announced the closure of the bridge starting from April 1 for essential maintenance and rehabilitation works.

It was to remain closed until May.

However, Umahi urged Lagosians to kindly use the bride from today, 4th April 2025.

He said that palliative works were underway to ensure that the bridge would be motorable.