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,...

N400bn New Notes, N2.2trn Old Notes in Circulation - CBN Nigeria’s currency in circulation, which hit N2.60 trillion in June, might comprised N400 billion new notes and N2.2 trillion old bank notes. According to the latest data from the Central Bank of Nigeria (CBN), CIC rose...

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...