Naira Crashes To N493/$ At Parallel Market     This is not the best of times for the naira. It crashed yesterday to N493/$ at the parallel market, losing N12 to the dollar within 24 hours. It closed on Tuesday at N481/$. The sharp depreciation came a day...

CBN Devalues Naira To N410.25/$1         The Central Bank of Nigeria (CBN) has devalued the naira to N410.25 to dollar. The devaluation of the local currency was confirmed by the adoption of the Nigerian Autonomous Foreign Exchange Rate (NAFEX), also known as the Investor and Exporter (I&E)...

IMF Seeks Unified Exchange Rate For Naira         The International Monetary Fund (IMF) has urged the Central Bank of Nigeria (CBN) to get the country a unified exchange rate for the naira. It remained stable at N378 to dollar on the CBN’s official rate. The naira was on...