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The Nigerian local currency, the Naira, has crossed the new red line at the Investors’ and Exporters’ Foreign Exchange (FX) window on the back of sustained demand pressures across the …
Naira hits N740/$ at parallel market Read More
The Nigerian naira has collapsed to a new record low, trading at a minimum of N730/$1 on Thursday morning at the open market, a 0.69 percent drop from the previous …
Breaking: Naira collapses to N730/$ at parallel market Read MoreNaira appreciated to N701/$ at the close of August from over N703 to N701/$ yesterday. As at last weekend it exchanged for N698 to a dollar but according to the …
Naira closes August at N701/$, stable at NAFEX, official window Read More
The naira has continued its downward trend, falling to N702 per dollar at the parallel market on yesterday. Ana;ysts warn that, extension to the official exchange rate may impact service …
Naira crosses N700/$ mark, may impact debt service Read MoreThe Naira has fallen to low levels during the week, exchanging for N428.16/US$ at the investors and exporters window as traders adjusted prices to reflect the rate Central Bank of …
Naira begins new week on shaky ground as forex scarcity persists Read MoreThe Nigerian naira has dropped to N614 against the dollar at the parallel section of the foreign exchange market as FX volatility worsens in the country. The figure signifies a …
Naira drops to another low as FX volatility worsens Read More
President, Association of Bureaux De Change Operators of Nigeria (ABCON) Alhaji Aminu Gwadabe has said that despite foreign exchange intervention by the Central Bank of Nigeria (CBN), Naira volatility is …
Rising inflation, interest rate hike compounds naira volatility – Gwadabe Read MoreNaira continued to suffer a serious beating in the unregulated foreign exchange markets as Forex liquidity worsens. The Naira exchange rate at the parallel market depreciated by 0.66 per cent …
Naira falls to N611/$1 at the black market as FX liquidity worsens Read MoreThe Nigerian Naira fell to N604/$ at the parallel from N565 at the start of the year despite the Central Bank of Nigeria (CBN) interventions aimed at strengthening the local …
Naira falls to N604/$ at parallel market Read More
For the first time in nine months, Nigeria’s foreign reserves have dropped below $39 billion following the Central Bank of Nigeria (CBN) continuous withdrawal to defend the Naira. The decline …
CBN’s effort to sustain Naira pushes foreign reserves below $39bn Read MoreThe Association of Bureaux De Change Operators of Nigeria (ABCON) has developed a roadmap campaign plan needed to save the naira from further decline and enhance exchange rate stability. The …
ABCON unveils roadmap on ‘save the naira’ campaign Read MoreIn the first four months (January to April) of 2022, the volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose to …
Naira stumbles as volume of dollar traded hits $14.53bn Read More
Due to the US dollar integration into the global economy, its gains are putting more pressure on businesses and governments as they prepare for rising interest rates on their dollar …
‘US possible rate hike to put more pressure on naira’ Read MoreNaira fell to its lowest level since 4th January 2022, depreciating by 0.32 per cent on Thursday to close at N418.33/$ compared to N417/$ recorded in the previous trading session. …
Naira falls to lowest year-to-date as forex supply declines Read MoreWith the declaration of April 15 and 18, 2022 as a public holiday to mark the Easter celebration, Nigeria’s local currency has further depreciated against the Dollar, exchanging for N590 …
Naira hits N590/$1 at parallel market ahead of Easter break Read MoreEconomic experts and financial analysts have predicted a further depreciation of the Naira, while also forecasting that the country’s Gross Domestic Product will grow by almost three per cent in …
Experts predict further Naira depreciation, rise in inflation Read More
An economist and founder of Agusto &Co, a credit rating agency, Bode Agusto has warned that the Naira faces more depreciation in 2020 unless the Central Bank of Nigeria retracts …
CBN policies crippling Naira – Expert Read MoreRegrettably, naira depreciation does not hold any assurance of better things economically for Nigerians. There is obviously misguided and unrealistic call that the naira be devalued in expectation that matching …
Naira depreciation and 2022 budget Read More
The Central Bank of Nigeria (CBN) has announced that President Muhammadu Buhari will formally unveil the much talked about digital currency, known as the eNaira, on Monday. CBN Director, Corporate …
Buhari set to unveil eNaira Read More
As Nigerians await the launch of Central Bank Nigeria’s digital currency, eNaira, some financial experts have argued that while the introduction may deepen the financial inclusion drive in the country, …
eNaira may threaten banks’ source of income Read More
The Nigerian Ethnic Youth Leaders Council (NEYLC) has faulted the position of the Vice President, Prof Yemi Osinbajo, who on Monday called on the Central Bank of Nigeria (CBN) to …
Devaluation of Naira: You ‘re insensitive, youth leaders tell Osinbajo Read More
An Abuja based lawyer, Dr. Kayode Ajulo, has confirmed that a Court of Appeal sitting in Ado Ekiti Judicial Division has discharged and acquitted a teenager Adeolu Bamiteko, who was …
How Ajulo rescued teenager sentenced to death for stealing phone Read More
The Ogun state police command have arrested one, Olagoke Dare, a staff of Abestone Microfinance bank located in Abeokuta for planning with one, Idowu Tunde to him of a cash sum …
Police nab robber, bank staff for attempted robbery in Ogun Read MoreOver the years, businessmen have been lamenting the effects of poor infrastructure, multiple taxations, power on the cost of conducting business in Nigeria, but with the depreciation of the Naira …
Still on business owners’ concerns over soaring prices of materials Read MoreThe Nigerian naira hit a record low of N573 against the dollar on the black market on Monday, shrugging off news of the country’s Eurobond sale, meant to boost its …
Naira at record low of N573/$ despite successful Eurobond sale Read More