Free Float: Naira Depreciates Further to 702/$ The naira traded at 702.19/dollar at the close of business on Thursday, as the Central Bank of Nigeria has allowed for a free float of the national currency against the dollar and other global currencies. This means that the...

Forex Turnover In I&E Rises By 78% To $2.5bn   The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose by 78.5 per cent, month-on-month (MoM) to $2.5 billion in May 2023 from $1.4 billion the previous...

ABCON Advocates Measures To Curb FX Challenges, Naira Depreciation   The Association of Bureaux De Change Operators of Nigeria (ABCON) has advocated measures to curb the continued depreciation of the naira. The measures were contained in the ABCON Quarterly Economic Review for the third quarter of 2021. ABCON...

US Dollar vs NIG Naira: The Real Issues, by Dr Oni Gbolabo           1. Appreciation and depreciation of currency is not related to race or color or who is the president be it Hausa, Igbo or Yoruba. It is basically about production of goods and services...

Naira Depreciation Threatens Economy’s Outlook - LCCI           The continuing depreciation of the naira is affecting business activities and threatening Nigeria’s corporate outlook with wide implications for the economy, the Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Aloma has said. In an interview, Almona lamented...

COVID-19, Others Responsible For Naira Depreciation — CBN       The Central Bank of Nigeria (CBN) has disclosed that, COVID-19, shortage in foreign exchange (forex) supply and other factors led to the sharp depreciation of the Naira against the US Dollar. CBN Deputy Governor, Corporate Services, Edward Adamu...