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...
JUST IN: FG Increases Exchange Rate for Cargo Clearance to N1356 Per Dollar
The Nigerian government through the Central Bank of Nigeria (CBN) has raised the exchange rate for cargo clearance from N952/$ to N1.356 per dollar.
This adjustment follows recent increases in the exchange rate...
Naira Springs Back After CBN Directive on Shelling Excess Dollar
Before the February 1, 2024 deadline given by the Central Bank of Nigeria (CBN) to commercial banks to sell all excess foreign exchange holdings, Deposit Money Banks on Thursday made frantic efforts to offload their...
