NEWS

Naira quoted at 253/$ as interbank market opens today

So while I was attending Engineering lecture the Naira was busy gaining back strength. As the new foreign exchange policy of the Central bank became effective this morning, the Naira was quoted at 253 against the U.S. dollar at the Interbank market. CBN last week said it would scrap its fixed exchange system which has seen the currency pegged at 197 to the U.S. dollar for the past 16 months. Market forces will ultimately determine the foreign exchange rate now. Opinionated Blogger, Japheth Omojuwa, gave some insight into the new Foreign exchange policy. (more&helli

NEWS

Cavaliers fans take over Cleveland streets and Cleveland fire truck to celebrate winning NBA

Ecstatic fans flooded the streets of Cleveland, scaling buildings, buses and a lone fire truck after the Cavaliers won their first NBA championship since 1964, last night. People gathered outside Quicken Loans Arena, home of the Cavaliers, and celebrated after watching Lebron James lead Cleveland to a 93-89 Game 7 victory over the Golden State Warriors. More photos and video after the cut. (more…)