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Naira trades N370 to dollar at parallel market

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Lagos – The Naira appreciated by N20 on Monday, exchanging for N370 to the dollar at the parallel market. The Naira sold at N390 to one dollar on Feb 19. However, it closed at N199.50 to the dollar as the official bank rate. A trader, who preferred anonymity, said that the market
was hopeful that the Naira would appreciate more by next week. He said that the Association of Bureau De Change Operators of Nigeria (ABCON) would meet on Tuesday in Lagos to strategise on how the currency would bounce back. The trader predicted that the Naira could appreciate against the dollar between N200 and N250 next week. President Muhammadu Buhari had on Feb. 20 insisted that the government would not devalue the Naira in spite of wide gap between the official and parallel markets.

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THE MAN PETER MBAH

Peter Mbah was born on the 17th, March 1972
He started his primary education in 1978. He attended the Army Children School, Bori Camp, Port Harcourt where he obtained his 1st School Leaving Certificate in 1984. In the same year, he proceeded to Owode High School, Owode Egba, Ogun State and in 1990, he graduated with a Senior Secondary Certificate in Education (SSCE) (O’Levels).
An adventurous Mbah obtained a Certificate in German as Foreign Language from the VolkHoch Schule, Recklinghausen, Germany in 1992. Between 1997 and year 2000, he attended the University of East London, United Kingdom where he graduated as a lawyer (.L.L.B (Hons)) with a Second Class Upper Division. While at the School, Mbah was an outstanding President of the Student Law Society (1998-1999). During his tenure, the association won the Students Union’s prize and certificate of achievement for the “Most Productive Society of the Year”.