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The naira continued its downward trend, closing at N1,625.13 to the U.S. dollar in the official Investor and Exporter (I&E) window, marking a 4.06 per cent drop from the previous …
Naira drops to N1,625 amid oil price decline Read More
The Naira showed signs of recovery on the official NAFEM window, closing September 2024 at N1,541/$, reflecting a 2.77 per cent appreciation from N1,585/$ at the start of the month. …
Naira stabilises as CBN tightens policy, analysts warn of market volatility Read More
Nigerian businesses expect the naira to weaken between now and December but it will appreciate next year, according to a survey by the central bank. The poll of 1,600 firms …
Firms have bleak short-term naira outlook – Survey Read More
The naira reclaimed part of losses sustained over the weeks as foreign exchange liquidity pressures reduced over the weekend, with the naira exchange rate crossing N1520 in the official market …
Naira appreciates as foreign reserves hit 13-month high Read More
The Socio-Economic Rights and Accountability Project (SERAP) Sunday asked the Central Bank of Nigeria (CBN) “to account for and explain the whereabouts of the over N100 billion ‘dirty and bad …
SERAP to CBN: Account for missing N100bn dirty notes, other funds Read More
Nigeria’s total trade with the United Kingdom has plummeted by 25 per cent in the first quarter of 2024, dropping from N602.36 billion in the first quarter of 2023 to …
Nigeria, UK trade volume declines despite naira devaluation Read More
Naira recorded a slight gain against the United States dollar at both the authorised and unauthorised forex markets on Thursday, market data reviewed showed. According to official market data published …
Naira gains slightly at forex markets Read More
The special adviser to the President on Information and Strategy, Bayo Onanuga, says after months of foreign exchange storms, stability has now been restored to the forex market. Onanuga made …
Stability now restored to foreign exchange market – Onanuga Read More
Multichoice Group has blamed Nigeria’s harsh economic condition for the 18 per cent decline in its active subscribers, according to its financial result for the year ended March 31, 2024. …
Multichoice blames naira for 18% drop in subscription Read More
Inflation rate, the average change in prices of goods and services rose 33.7 per cent in April from 33.2 per cent a month ago. Analysts say the increase was fueled …
Another rate hike looms as inflation rises on back of naira slide Read More
As part of effort to strengthen Nigeria’s currency, the federal government has declared that it will take the naira off of all peer-to-peer (P2P) exchanges. This was disclosed by the …
Breaking: FG takes fresh decision to strengthen naira Read More
The Naira lost N64.5 against the US dollar in the foreign exchange market on Monday. FMDQ data indicated that the Naira depreciated to N1,234.49 per US dollar on Monday compared …
Naira suffers decline in parallel market Read More
The fortune of the naira, Nigeria’s national currency, had been on a terrible downward trend in the last one year. In my past series, I have painstakingly identified concatenation …
Naira rebound, super highway as Tinubu’s economic game changer Read MoreThe value of the naira gained strength midday as traders anticipate another round of dollar sales to Bureau de Change (BDC) operators this week. By noon on Monday, the naira …
Happening now: Dollar crashes to N1,000 Read MoreThe naira experienced huge appreciation on Friday at the official market, trading at N1,142.38 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that …
Naira makes more gains against dollar Read More
Finally, embattled trendy cross-dresser, Idris Okuneye, aka Bobrisky, on Friday clarified his gender status before the Federal High Court in Lagos, declaring that “I’m a male.” The cross-dresser identified as …
Naira abuse: I’m a man, Bobrisky tells court; gets 6-month jail Read More
Controversial cross-dresser Idris Olanrewaju Okuneye popularly known as Bobrisky has been sentenced to six months imprisonment without any option fine for abusing the Nigeria currency – naira. Justice Abimbola Awogboro …
Breaking: Bobrisky lands in jail Read More
The Central Bank of Nigeria (CBN) has approved the sale of $10,000 to each of 1588 Bureau De Change operators (BDCs). In a circular issued informing the BDCs of its …
Breaking: CBN sells $10000 dollar each to over 1500 BDC operators at new rate Read More
Despite the appreciation of the Naira against the US Dollar, it is worrisome to notice persistent high costs of goods and services; PAUL OKAH reports. All over the country, the …
Despite Naira’s appreciation against Dollar, costs of goods, services still high Read More
Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has emerged as a central figure in the narrative of Nigeria’s economic resilience, especially in the face of the …
Naira bounces back: The impact of Cardoso’s strategies Read More
A Development Economist, Prof. Ken Ife, says some sectors may soon likely witness a drop in prices as the Naira appreciates against the Dollar. Ife, who said this in an …
Some sectors may witness drop in prices over naira appreciation – Expert Read More
The Bureau De Change operators said there was no truth in reports that the dollar is now selling at N1,000 at parallel market, contrary to the report making the rounds …
Breaking: Not N1000, BDC operators speak on current dollar to naira rate Read More
There is the possibility of light at the end of the tunnel for the naira, with clear signs that the local currency is on a slow and painful path to …
Naira beginning to limp out of doldrums – Rewane Read More
As Nigerians grapple with the depreciation of the naira which has further put the heat on the economy, analysts say there is an urgent need to defend the country’s foreign …
Naira depreciation and need to defend foreign reserves Read More
In 1987, critical economists alongside their left learning thinkers that included Prof. Esko Toyo, Prof. Claude Ake, Prof. Bade Onimide, Prof Bala Usman, Prof. Mokwugo Okoye, Prof. Ola Aina, Prof. …
Can Cardoso’s reforms rescue the naira? Read More