UK, US Airfare Surges By 55% As a result of the depreciation of the naira against the United States dollar by 55 per cent on the official foreign exchange market, there has been a decline in airfare on international routes in Nigeria. The naira plummeted from...

Cedrus Group: CBN Reforms Will Yield Results In Q2 On Thursday, the Chief Executive Officer of Cedrus Group Africa, Olubusayo Adeniyi, stated that the reforms and policies of the Central Bank of Nigeria (CBN) will start yielding results from the second quarter of 2024. Speaking at...

CBN Warns Forex Dealers As Naira Plunges In Official Market   The naira plunged further at the official window on Tuesday, closing at an all-time-low of N1,482 against the United States dollar. The local unit had closed at 1,348 against the greenback on Monday after the FMDQ...

Naira Drops to ₦1,399 Per Dollar at Official FX Market The Nigerian foreign exchange (FX) market witnessed a historic drop in the value of the naira, reaching an unprecedented intraday rate of N1,399 per dollar at the official market on Thursday. Data sourced from the Financial...

Naira Rebounds at The Official I&E Window   After several days of volatility, the naira rebounded at the official I&E Window on Tuesday, closing at N878.61/$1 against the N925.34/$1 it closed on Monday. The latest indicates a major improvement in the value of the local currency which...

Naira Slumps To N1,340/$1 At Parallel Market, FX Shortages Persist   Hopes of local and international businesses getting foreign exchange suffered a set-back as the naira slumped to fresh lows against the US dollar at the official and parallel markets at the weekend. This comes as...