Operator to Tinubu: Ban Dollar Cash Transactions To Save Naira The Group Managing Director of CFL Group, Lai Omotola, has urged President Bola Tinubu to sign an executive order prohibiting dollar cash transactions to save the naira from further depreciation. Omotola noted that several economic policies...

How a Dollar Can Exchange for N160 in Nigeria, by Prof. Ahmed Adamu   The recent free fall of the Naira, plummeting from N460 to a staggering N1,600 at the official rate, has cast a dark shadow over Nigeria's economic landscape. With inflation soaring from 22%...

Naira Appreciates to 1,468 per Dollar as MPC Meets After weeks of free fall, the Naira has finally made a comeback against the US dollar, reaching a new high of 1,468 in the official market. According to Economic Confidential findings at the parallel market, the average...

Naira Gains at Autonomous FX Market, Banks Sell $172m The naira gained marginally against the United States dollar at the Nigerian Autonomous Foreign Exchange Market on Tuesday, closing at N1,542.58/$ from N1,551/$ recorded on Tuesday. The rate represents a 2.9 per cent appreciation from the N1,598.54...

More Hardship For Nigerians As Naira Hits Record Lows, Stocks Plunge   The Nigerian naira fell to record lows on both the official and unofficial markets on Monday, while stocks posted their biggest one-day fall in more than a year, as jittery investors sold off local...

Naira Falls Further, Exchanges for N1,673/$, N2,000/1£ at Parallel Market Nigeria’s currency is currently exchanging above 2,000 naira against the Great Britain Pound at the parallel market. The new rates were confirmed on Monday by Bureau de Change operators in the Federal Capital Territory, Abuja, with...