CBN To Unify Exchange Rates, Pegs Naira At N379/$     The Central Bank of Nigeria on Saturday officially changed the exchange rate of the naira to the dollar from N361 to N379 on its website. The apex bank had earlier expressed its decision to unify the exchange...

Sanusi To CBN: Fund BDC To Stabilise Naira     To protect the naira, the Central Bank of Nigeria (CBN) must fund Bureau De Change (BDC) segment of the foreign exchange . Former CBN Governor and one-time Emir of Kano Muhammad Sanusi II said this action will bridge...

Naira Devaluation: Between Markets Forces and Harmonization Pundits By Adefolarin A. Olamilekan   It is no longer news that the pandemic Covid19 effect is beyond health crises. The global economy is once again confronted with another crisis. Like the 2008/2009 economic meltdown, that almost eroded the world...

Investment One’s Dollar Fund Offers Investor Comfort Amid FX Uncertainty     As a petrodollar economy, Nigeria is susceptible to weakness in global oil prices which has continually impacted the country’s exchange rate and brings to the table conversations around devaluation of the local currency as was...

Naira Dips To N472/$ As Forex Scarcity Worsens     The naira on Tuesday traded at N472 to a dollar at the parallel market as foreign exchange scarcity persisted. The exchange rate was N440/$ in the parallel market in June, and operators have continued to demand for the...

Naira Weakens Further Despite CBN’s Intervention     Naira depreciated to new lows across many markets as continuing Central Bank of Nigeria (CBN)’s intervention failed to stem the fall of the Nigerian currency at the official and parallel markets. The naira depreciated against the dollar by 0.3 per...