External Reserves Drop By $915m After CBN's Naira Float   Nigeria’s external reserves dropped by $915m after the Central Bank of Nigeria officially floated the naira and liberalised the foreign exchange market. CBN data obtained on Sunday showed that the reserves, which stood at $34.66bn as of...

Naira Loses, Exchanges N773.42 at I&E Window, N895 at Black Market   The naira depreciated against the dollar on Wednesday as it exchanged at N773.42 at the Investors and Exporters window. According to a report by the News Agency of Nigeria (NAN), the naira lost by 0.35...

NNPC Secures $3bn Afreximbank’s Loan To Stabilise Naira   The Nigerian National Petroleum Corporation (NNPC) Limited said it had secured a $3 billion crude repayment loan to halt the further slump of Naira against the Dollar at the foreign exchange market. The company disclosed this on Wednesday...

Naira Slides Further As Dollar Shortage Hits Banks   The widening gap between the demand and supply of dollars in the banks and at the parallel market has continued to worsen the value of the naira. In less than three weeks, the naira lost N100 after sliding...

Naira Gains, Exchanges At N757.51/$   The Naira on Tuesday appreciated against the dollar, exchanging at N757.51 at the Investors and Exporters window. The Naira gained by 2.23 per cent when compared with N774.78 for which it exchanged for the dollar on Monday. The open indicative rate closed...

Naira Gains, Closes At N791/$ In Official Market   The naira yesterday recorded marginal gain of N1 to close at N791/$ in the official Investors and Exporters (I&E) window. The local currency closed at N792/$ at the official window on Monday however continued depreciation at the parallel...