Forex Crisis: Nigeria's Battle to Restore the Naira's Glory, by Gidado Shuaib   For Nigeria, the Naira stands not only as the country's currency but also as a symbol of its identity. Besides ensuring that citizens thrive in their everyday lives, it also signifies the country's...

Naira Gains at Autonomous FX Market, Banks Sell $172m The naira gained marginally against the United States dollar at the Nigerian Autonomous Foreign Exchange Market on Tuesday, closing at N1,542.58/$ from N1,551/$ recorded on Tuesday. The rate represents a 2.9 per cent appreciation from the N1,598.54...

More Hardship For Nigerians As Naira Hits Record Lows, Stocks Plunge   The Nigerian naira fell to record lows on both the official and unofficial markets on Monday, while stocks posted their biggest one-day fall in more than a year, as jittery investors sold off local...

Naira Falls Further, Exchanges for N1,673/$, N2,000/1£ at Parallel Market Nigeria’s currency is currently exchanging above 2,000 naira against the Great Britain Pound at the parallel market. The new rates were confirmed on Monday by Bureau de Change operators in the Federal Capital Territory, Abuja, with...

Naira Drops to N1,534 per Dollar In the official foreign exchange market, naira fell to an new all-time-low as it sells for N1,534 per Dollar on Monday. This shows a loss of 3.93 per cent fall or N58 from the N1,476.13/$ the national currency closed last...

Utomi: CBN ‘missteps’ Contributed To Naira Depreciation According to Pat Utomi, a political economist, ‘missteps’ made by the Central Bank of Nigeria (CBN) contributed to the incessant fall of the naira. Utomi stated this in an interview on Channels Television’s Sunrise Daily on Friday. Recall that the...