The Naira has slumped seven times in recent days against the US dollar at the foreign exchange.

FMDQ data showed that the Naira recorded a seventh drop against the Dollar, quoting N1309.88 per Dollar on Thursday from N1308.52 on Wednesday.

This represents a N1.36 loss on a day-to-day basis.

At the parallel market section, the Naira dropped between N1,300 and N1,370 on Thursday from between N1,250 and 1,300 the previous day.

In the last four days, Naira has recorded depreciation against the Dollar in the FX market.

Last week, the Naira dropped three times against the Dollar in the foreign exchange market.

Accordingly, the Naira had lost N237.14 since April 17, 2024 when it traded at N1,072.74 per Dollar at the FX market.

The development comes despite the Central Bank of Nigeria releasing 10,000 dollars each to BDC at N1,021 to a dollar with a caveat to sell at most 1.5 per cent above the bought price.

This is the third recent intervention for BDCs amid the bank’s effort to defend the Naira.

BDC operators blamed peer-to-peer cryptocurrency platforms like Binance for the recent depreciation of the Naira against the dollar in the foreign exchange market.

Fuel scarcity has hit parts of Zamfara State, with many filling stations under lock and key.

Newsmen observed that most filling stations in Gusau, Kaura Namoda, Tsafe and other places were not dispensing the commodity.

A liter of fuel is being sold at between N800 and N850.

However, efforts to speak with some Independent oil marketers proved abortive as they refused to comment on the issue.

Vehicle drivers and motorcycle riders, who spoke with DAILY POST, expressed dismay over the return of long queues at the filling stations.

“We were rejoicing that the long queues at filling stations had gone, but the problem is back,” one Abubakar Tukur said.

The Economic and Financial Crimes Commission, EFCC, has dismissed claims that its Chairman, Ola Olukoyede subjected the immediate past governor of Kogi State, Yahaya Bello to a media trial.

Olukoyede had organized a press conference where he disclosed that Bello withdrew $720,000 from a government account to pay his child’s school fees.

He also claimed that the former governor told the EFCC to come over to his village and interrogate him.

The EFCC Chairman further vowed to resign if he fails to arrest Bello and follow through the investigation.

But a former Vice President of the ECOWAS Court of Justice, Prof. Nwoke Chijioke, disagreed with Olukoyede.

Chijioke said the press conference was a wrong approach and an unfair trial.

Chijioke said, ‘’The EFCC chairman’s press conference of yesterday was really uncalled for. That is an unfair trial. All these challenges are because of what I would call a media trial.”

However, EFCC spokesperson, Dele Oyewale, said Olukoyede’s revelations did not violate any rule.

A statement by Oyewale said, “There is nothing the chairman said on Tuesday that was not already in the public domain.

“Also, we have filed our processes, and everything is before the court, so the chairman did not say anything that is not already in public domain.

“The chairman himself is a lawyer, and he knows his onions. Everything he said was within his rights as the Chief Executive Officer of the EFCC.”