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BREAKING: Abuja black market traders close shops and Abruptly Stops Trading Today.

In a surprising move, foreign exchange black market operators in Abuja, including those at the bustling Wuse Zone 4 market, abruptly stopped trading on Thursday morning.
They attributed their decision to instructions from their union and a significant depreciation of the Naira against the US dollar at the official market.
None of the traders approached was willing to exchange foreign currency.
Initially, they cited directives from the Association of Bureau De Change Operators of Nigeria (ABCON) to refrain from selling.
However, further inquiries revealed it was due to the narrowing gap between the official and black market exchange rates.
“The Naira just de go up,” explained one trader, requesting anonymity. “The official rate has fallen so much that it’s almost the same as what we offer here. There’s no profit in selling dollars anymore.”
The official CBN rate on its website closed on the last day of January at N1,356.883/$1 but the other official rate closed at N1,455.59 while the black market rate closed N1,450/$1.
This narrowing gap, driven by various economic factors, has significantly reduced the potential profit margin for black market operators, rendering their activities less lucrative.
While access to official channels for FX remains limited for many Nigerians, the black market has historically served as an alternative source, albeit at a premium.
Their sudden shutdown could create challenges for individuals and businesses reliant on these unofficial channels.
However, the development could also be seen as a positive sign for the CBN’s recent efforts to stabilise the foreign exchange market.
The narrowing gap between official and black market rates suggests increased confidence in the official market, potentially reducing demand for alternative channels.
The situation is fluid and could evolve rapidly. The CBN and ABCON are yet to issue official statements and the long-term impact of the traders’ closure remains unclear.
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Opeifa request for the state government to assist the Railway Police and Otti, thanks Tinubu for picking the best material to rewrite Nigeria Railway history

Gov. Otti describes Opeifa as a thorough-bred professional ready to rewrite Nigeria Railway history
Lauds President Tinubu for picking the best material to reposition Nigeria’s oldest corporation
A deserving commendation came the way of the Managing Director of the Nigerian Railway Corporation, Dr Kayode Opeifa, as the Abia State Governor, His Excellency, Dr. Alex Otti, described him as an exceptional professional, most suitable to lead the Nigeria’s oldest surviving public corporation.
Governor Otti spoke on Wednesday, at the Government House in Abia State, during a business visit by the MD/CEO of the Nigerian Railway Corporation, as part of his familiarization tour of the Eastern District of the Corporation.
According to Governor Otti: “I have had so many engagements with past leaders of the Nigerian Railway Corporation, you are clearly different and knows the job”. He thanked President Bola Ahmed Tinubu for appointing Dr. Opeifa to lead the Nigerian Railway Corporation, expressing assurance at his ability to deliver.
He thanked the MD/CEO for promising to synergize with the Federal Ministry of Transportation, and the State Government to see that the transformation of the transportation system in Umuahia is achieved. According to the Governor, “Umuahia Bus terminal is progressing rapidly and we felt that it is important to replicate what we have in Paignton, United Kingdom in Umuahia, by linking the train station with the Terminal to enhance intermodal transportation services.
The Governor stated that he was very happy to see that the MD/CEO is committed to taking the track from Aba to Enugu and even beyond. He recalled, with nostalgia how the train had served the people of the state and regretted the downward trends of rain services across the entire South East.
On the MD/CEO’s request for the state government to assist the Railway Police in the state, Governor Otti promised that his government will provide mobility for Aba Railway Police.
He added that the state government is always ready to support the Federal Government institutions as users of such federal institutions are people of the state, adding that his administration cannot differentiate between federal and state government workers.
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Airlin Advocacy Commissions Jos Office, Targets 7m Members By Next Elections,Says Mohammed Gamawa

During the inauguration ceremony, the National Chairman of Airlin, Mohammed Gamawa, delivered a keynote address, emphasizing the organization’s commitment to educating Nigerians on their civic rights and responsibilities.
According to Gamawa, Airlin aims to bridge the gap between citizens and the principles of the rule of law by fostering a society where people understand not only their rights but also what is expected of them by the country.
“Our goal is to foster interaction among Nigerians, promote respect for the rule of law, and ensure citizens know their rights and civic responsibilities — such as voting to elect future leaders not based on materialism but based on integrity and competence,” Gamawa stated.
He added that understanding and exercising one’s franchise, especially during elections, must go hand in hand with being law-abiding and fully aware of civil responsibilities.
As part of its mission, Airlin is currently targeting 19 states in Northern Nigeria, with Jos becoming the 15th state to be commissioned.
The ceremony also featured the appointment of state and local government coordinators who will help drive the organization’s grassroots advocacy efforts.
With a current membership base of 2.1 million Nigerians aged 18 and above, Airlin projects a significant growth trajectory, aiming to reach 7 million members before the next general elections.
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Nothing new in FBI report on Tinubu, says Onanuga

Senior Special Adviser to the President on Information and Strategy Bayo Onanuga has dismissed a report of a United State (U.S.) court ordering two law enforcement agencies to release information on President Bola Ahmed Tinubu during a “purported federal investigation in the 1990s.”
In a tweet on his verified X handle, Onanuga told those agitated by the directive that there would be nothing revealing in the anticipated report.
In an April 9 ruling, District Court for the District of Columbia Judge, Beryl Howell ordered the Department of State, Federal Bureau of Investigation (FBI), Internal Revenue Service (IRS), Drug Enforcement Administration (DEA) and the Central Intelligence Agency (CIA) to release the information to Mr. Allan Greenspan.
The information being sought by Greenspan was classified as “confidential information” generated during a “purported federal investigation in the 1990s.”
Judge Howell said that protecting the information from public disclosure “is neither logical nor plausible.”
Commenting on the ruling, Onanuga said: “There is nothing new to be revealed. The report by Agent Moss of the FBI and the DEA report have been in the public space for more than 30 years. The reports did not indict the Nigerian leader”, Onanuga said yesterday.
He said that counsel to the President have been “examining the ruling”.
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