Many Nigerian pilgrims currently in Saudi Arabia for this year's pilgrimage say they have cut down on their spending following the fall in the value of the Naira. A correspondent of the News Agency of Nigeria (NAN) reports that a number of the pilgrims interviewed...

The naira plunged to 418 against the dollar at the parallel market on Tuesday as scarcity of foreign exchange continued to weigh on the official interbank and black market. The local currency, which closed at 414 against the greenback on Monday, traded at 415 in...

The naira is the worst performing currency this year among more than 150 currencies globally, the Bloomberg media has said. It has depreciated 37 percent against the dollar since the central bank abandoned its peg on June 20, while bond yields have jumped to more...

The naira fell against the dollar at the interbank foreign exchange market to an all-time low of 334.50 on Wednesday, a day after the Central Bank of Nigeria’s Monetary Policy Committee hiked interest rates to lure foreign investors back into local assets. The naira had...

The Nigeria's Naira stabilises at N284.83 to a dollar on the second day of trading on the interbank spot market on Tuesday, though against the N281.85 at which it closed on Monday, even as the Central Bank of Nigeria (CBN) intervened for the second...

Nigerians have, in recent times, found it exceedingly difficult to pay for services like education and health care in other countries due to the weakness of the naira, but the recent deal between Nigeria and China may just be the panacea to resuscitating the...