Goldman Sachs: Naira Now World's Top-performing Currency Predicts further gains below N1,000/$ Currency sustains gains, now N1142/$1 on official FX window, N1150/$1 on parallel market James Emejo and Nume Ekeghe with agency report Goldman Sachs Group, yesterday said the Naira has already established itself as the top-
performing currency globally in April, adding that the local currency was expected to extend its gains, amid the continuing effective policy management by the Central Bank of Nigeria
(CBN). In April alone, the Naira has surged 12 per cent against the dollar, adding to a one per cent increase in March, according to Bloomberg.
The rally was supported by capital inflows and consecutive interest rate hikes, helping to recover from significant losses following two devaluations since last June, triggered by the the
floating of the local currency and FX market unification. Goldman Sachs economists, who previously forecasted in February that the Naira would strengthen to N1,200/$ in 2024,
now anticipate it could surpass this level due to aggressive measures by the central bank, including a total of 600 basis points Continued on page 5
Falling Crude Output: Lokpobiri Says FG Taking Steps to Address Situation...
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Olakulehin Nominated as 43rd Olubadan Kemi Olaitan in Ibadan
L-R: Wife of the Vice President, Hajia Nana Shettima; Vice President Kashim Shettima; President Bola Ahmed Tinubu, and First Lady Senator Oluremi Tinubu, during the Sallah homage at the president's Lagos residence… yesterday
The crisis over the selection of a new Olubadan of Ibadanland may be coming to an end as kingmakers Continued on page 5
NLC, Abure-led NWC Sustain Battle for Labour Party Control Labour reveals 2022 agreements, LP justifies ownership via 2015 INEC letter Embattled national treasurer urges Abure to honour agreements Chuks Okocha in Abuja The crises rocking Labour Party (LP) over its ownership is not by any means abating as both the Julius Abure-led National Working Committee (NWC) and the Nigeria Labour Congress (NLC) have gone to their respective archives to prove who actually owns the party. Documents made available to THISDAY yesterday, showed that the agreement brokered between both camps in 2022, was that there
must be elections from wards, local governments, states, before the national convention. But the national convention conducted on March 27, 2024, by Abure, did not respect the agreement. However, the Abure-led leadership of the LP in response, went into its archive to produce historical limitations to the powers of the NLC over the party. In a letter dated June 28, 2022, on Continued on page 5
Orits Williki: Reggae Music Not Dead, It Has Metamorphosed... Page 22
SIGNING OF AGREEMENT TO HOST 31ST AFREXIMBANK ANNUAL MEETINGS… L-R (Standing): Afreximbank President/Chairman of Board of Directors, Prof. Benedict Oramah and Prime Minister of the Commonwealth of The Bahamas, Hon. Philip Davis, K.C, watching as Director Communications and Events, Afreximbank, Anne Ezeh (sitting left) and Permanent Secretary in the Office of Prime Minister, Government of Commonwealth of The Bahamas, Creswell Sturrup, sign the Agreement for The Bahamas to host the 31st Afreximbank Annual Meetings (AAM) and the third edition of the AfriCaribbean Trade and Investment Forum (ACTIF)…yesterday