Naira Slides As Forex Reserves Drop Third Consecutive Time   The naira depreciated to N588 per dollar at the parallel market as the nation’s foreign exchange (forex) reserves dropped for the third consecutive time. Trading reports at the weekend showed that naira depreciated by 0.9 per cent...

24hrs To APC Convention, Dollar Scarcity Hits Harder   Barely 24hrs to APC convention in Abuja, the lingering foreign exchange scarcity in the country has continued to hit harder even as the exchange rate on the parallel market is inching towards N590/$1. Things may worsen even...

Dollar Hits N590 As Forex Scarcity Bites Harder   The lingering foreign exchange (FOREX) scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590/$1. The development may lead to massive job loss in the manufacturing industry,...

Naira Falls to N585 per Dollar In the parallel market for foreign exchange, the Nigerian naira has dropped to N585 against dollar. The figure represents N4 or 0.7 percent depreciation compared to the N581 it traded last week. According to Bureau De Change (BDCs), popularly known...

Dollar Turnover In I&E Rises By 152% To $2.16bn In January The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose sharply by 152 per cent, Year-on-Year (YoY), to $2.16 billion in January 2022 from $906.44...

No Dollar Spent On Cement Import In Seven Years, Says Emefiele   The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said Nigeria has not spent dollars to import cement in the last seven years. A statement from the CBN said he spoke at...