Naira Appreciates By 23.5% Despite Rising Inflation   Despite Nigeria’s headline inflation rate nearing 30 per cent, the Naira appreciated 23.5 per cent leading to projections by experts that FX liquidity conditions are expected to remain tight, pending receipt of expected FX inflows. Nigeria’s headline inflation rate...

Naira in Circulations Rises to N3.4trn as CBN Assures of Adequate Cash Supply   The Central Bank of Nigeria (CBN) has again assured members of the public that it is addressing the reported cases of cash scarcity in some major cities across the country. It attributed the...

Old, New Naira Notes to Co-exist Till Further Notice - Supreme Court In a ruling on Wednesday morning, a panel of the apex court ordered that the old notes remain legal tender until necessary facilities are put in place for their replacement. The Supreme Court maintained...

Naira Steadies At Parallel Market at 1,160/$   The pressure on the foreign exchange (FX) market marginally eased on Tuesday as naira steadied against the United States dollar in the parallel market. According to Aboki FX, the naira sold for N1,160 on Monday and Tuesday respectively. Checks...

Eight Firms Record N918.1bn Currency Revaluation Loss   Eight firms have declared N918.1bn as currency revaluation loss following a 68.55 percent decline in the value of the naira against the dollar as of the end of September 2023. Following a Central Bank of Nigeria move in June...

Naira Crashes to N1,000 Per Dollar in Official Market Despite recent moves by the Central Bank of Nigeria to strengthen the foreign exchange market, the naira closed trading on the Investor & Exporter forex window on Thursday at N996.75/$. This is a 13.95 per cent decline...