CBN Rebukes Those Using Parallel Market To Push For Naira Devaluation       Those using parallel market rates to put pressure on the Central Bank of Nigeria (CBN) to devalue the Naira won’t have their way. The CBN Governor, Mr. Godwin Emefiele gave this indication at the end...

Naira May Depreciate To 475/$, Says Rewane         The naira will weaken in the parallel market as oil prices stay at $40-$42 per barrel and likely depreciate to 470-475 against the dollar in November and December, the Managing Director/Chief Executive Officer, Mr Bismarck Rewane, has said. Rewane...

Naira Steady Despite #EndSARS Protests         The naira last week traded at the parallel market for N463 against the dollar, a slightly weaker ratio from the N462 exchange rate the previous week. Naira’s exchange rate remains at N379 to the dollar at the official market. The local currency...

Naira Drops To 460/$ At Parallel Market         The naira fell slightly at the parallel market on Monday, as it exchanged to the dollar for N460/$ as of the close of work. The naira had exchanged to the dollar on Friday for 458/$. This is as the country’s...

'Naira Depreciation In Parallel Market To Continue'       Analysts have predicted that the depreciation of the naira in the parallel market will continue due to back-log of unsatisfied demand for dollars. They also cited rising dollar demand owing to increased economic activities due to reduction in COVID-19...

Naira Exchanges N460/$ On Parallel Market     The naira on Monday fell by 1.09 per cent to N460 on the parallel market. The naira decline followed President Muhammadu‘s directive to the Central Bank of Nigeria (CBN) to stop dollar sales for food and fertiliser imports. On the...