The slide in the value of the naira against the dollars has caused the price of aviation fuel, known as Jet A1, to skyrocket, Daily Trust checks have shown. The price which stabilized in recent times, selling between N220 to N255 per litre, has increased...

The Central Bank of Nigeria (CBN) has pegged the Naira exchange rate for payment of school fees (strictly universities) abroad and Personal Travel Allowance (PTA) at N375 to the dollar. The central bank disclosed this in a closed-door meeting it held with all chief executive officers...

The naira dropped against the United States dollar to 499 on Tuesday, from 498 on Monday as lingering scarcity of the greenback continued to weigh on the market Reuters reported. The local currency had reversed its Friday’s loss against the dollar, and closed at 498/dollar. The...

Naira has slipped to 485 to a dollar today, Friday, 30 September at the parallel market following the scarcity of the foreign exchange in the country. Some traders in Lagos and Abuja said the naira nears 490 a dollar in early trading before returning to...

The naira fell against the dollar at the interbank foreign exchange market to an all-time low of 334.50 on Wednesday, a day after the Central Bank of Nigeria’s Monetary Policy Committee hiked interest rates to lure foreign investors back into local assets. The naira had...

At least 75 ships with two and a half million tonnes of fuel are awaiting importers on the high seas as Nigerians can’t find the dollars they need to pay for the cargoes, according to ship tracking data and fuel traders. A Reuters report said...