Naira Sustains Gains, Sells at ₦1,565/$ in Parallel Market The naira continued its upward trend on Monday, gaining ₦45 against the dollar in the parallel foreign exchange market. As of Monday, February 10, 2025, the naira was trading at ₦1,558/$ (buy) and ₦1,565/$ (sell), though market...

Again, Naira Records Gain Against Dollar at Black Market The Naira has appreciated further against the Dollar at the parallel foreign exchange market. ‎This comes as the Naira recorded the biggest gain against the dollar at the black market on Friday on a week-on-week basis. ‎A Bureau...

Banks Borrow N1.2trn From CBN in One Day Amid Liquidity Pressure   Owing to liquidity challenge, Nigerian Deposit Money Banks (DMBs) have made the largest single withdrawal of N1.2 trillion from the Central Bank’s (CBN) Standing Lending Facility (SLF) to fund operations due to a liquidity shortfall in the...

PRNigeria Fact-Check Debunks Reinstatement Claims, Says CBN Director Jimoh Musa Itopa Was Never Sacked Recent claims circulating on WhatsApp and amplified by a Tech Cabal report suggested that the Central Bank of Nigeria (CBN) had reinstated Jimoh Musa Itopa, a director supposedly affected by the...

‎EXCLUSIVE: Real Reasons Dollar is Crashing Against the Naira ‎ ‎The Naira has been gaining grounds against the Dollar in recent weeks, reflecting significant shift in the country’s foreign exchange market. ‎ ‎In the parallel market on Friday, the Naira appreciated by N20, trading at N1,540/$1 from N1,600/$1...

Naira Redesign: Reminiscing on Lessons Learnt from a Controversial Policy, by Rahma Olamide Oladosu   In late 2022, the Central Bank of Nigeria (CBN) introduced an ambitious policy to redesign the naira, targeting three major denominations: ₦200, ₦500, and ₦1,000 notes. The initiative aimed to address...