...Rate cut not enough to tackle recession – CBN The naira tumbled against the United States dollar to 428 on Wednesday, down from 424 on Tuesday, as persistent dollar shortage continues to weigh on the economy. The major decline in the local currency against the greenback...

The naira tumbled to 402 at the parallel market on Wednesday, a day after the Central Bank of Nigeria banned nine banks from the foreign exchange market over their failure to remit $2.334bn to the Federal Government’s Treasury Single Account domiciled with the Central...

The naira fell to 360 against the United States dollar at the parallel market on Wednesday as the supply of the greenback waned at the foreign exchange market. The local currency had closed at N354 against the greenback on Tuesday. The naira has been experiencing high...