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,...
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...
