Naira Hits All-time Low, Exchanges for 1,100 to a Dollar The Naira has fallen to an all-time low as it now exchanges for N1,100 per dollar in the black market. This is according to information obtained on Wednesday morning, from traders in the parallel market . The...

CBN Raises Dollar Supply, Lifts Ban on Cement, 42 Items The Central Bank of Nigeria has said it is raising dollar supply in the foreign exchange market, just as it also lifted the ban on 43 items that were previously not qualified for forex at...

Job Losses, Factory Shutdown Loom as Naira Falls to 1,025/$ The naira fell further on Tuesday as it exchanged for the dollar at the parallel market between 1,005/$ and 1,025/$. Owners of small-scale enterprises, Nigeria Employers’ Consultative Association, and manufacturers has expressed concern about the falling...

How Increased Exports Will Strengthen Naira – NEPC Boss   The Executive Director of the Nigerian Export Promotion Council (NEPC) Dr Ezra Yakusak, said increased exports would stop the free fall of the naira against the dollar and also improve the country’s economy. Dr Yakusak stated this...

Rates Unification: Govt, Banks Rake in N2.2trn Governments, at the federal, state, and local levels, and banks, gained about N2.21trn following the exchange rates unification policy of the Central Bank of Nigeria (CBN). The Federation earned N834.36bn as exchange difference revenue between June and August 2023,...

Naira Hits N1000/$1 at Parallel Market The disparity between the official and parallel market rate is now very much wider than anticipated as the dollar at parallel market, on Tuesday, sold at N1000/$1 at the end of transactions. According to traders who spoke to Daily Sun,...