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The naira appreciated against the dollar at the foreign exchange market for the first time since last week.
FMDQ data showed that the naira strengthened to N1645.45 per dollar on Wednesday from N1689.88 exchange on Tuesday. This represents a N44.43 appreciation.
Meanwhile, at the black market, the naira closed at N1,745 against the dollar on Wednesday from N1,740 recorded the previous day.
Read Also: P&ID Case: FG Inaugurates Committee To Audit Gas MOUs
This comes as the FX transaction turnover increased to $236.84 million on Wednesday from $106.44 million recorded the previous day.
The Eastern Updates reports that the last time the naira gained against the dollar was last Thursday.
In other news, the Federal Government of Nigeria has taken a step to forestall a repeat of the embarrassment of the P&ID case by setting up the Legal Audit Committee to audit agreements and memorandum of Understanding on Accelerated Gas Development Projects, AGDPs.
Attorney General of the Federation and Minister of Justice Prince Lateef Fagbemi inaugurated the committee whose chairman is Olasupo Shasore.
Members of the committee include distinguished legal and industry experts such as Mrs. Folashade Alli, SAN; Mr. Tolu Obamuroh; Olaniwun Ajayi LP (Nigeria’s leading and largest law firm, represented by Muyiwa Balogun); General Counsel and Company Secretary, NNPCL; Secretary and Legal Adviser of NUPRC; Director, Civil Litigation and Public Law, Mrs Memuna Shiru and Director, Solicitors Department (FMoJ), Mrs Gladys Odegbaru, both of the Ministry of Justice.
