Naira

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The Naira dropped to N1,300/$ at the parallel market on Tuesday. This is as it closed trading on the Peer-to-Peer cryptocurrency window at N1,315.3/$1 on the same day. Some Bureau de Change Operators confirmed the parallel…

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A former Director-General of West African Institute for Financial and Economic Management, WAIFEM Prof. Akpan Ekpo has urged the CBN to take the currency swap agreement with the Peoples Bank of China on board, to reduce reliance on dollars…

IIk

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The Central Bank of Nigeria says it has Not devalued the naira. The bank in a press statement signed by the Apex Bank's Ag. Director, Corporate Communications, Isa AbdulMumin said report of devaluation was imaginative. "The attention…

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With the countdown to Nigeria's presidential election, the People's Redemption Party (PRP) has called on the Federal Government to reverse its Naira Redesign Policy to ameliorate the hardship being experienced by Nigerians. (The Central…

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Dollar exchanged at N603 (average) at Lagos and Abuja parallel markets this week, indicating a worsening liquidity crisis in the foreign exchange market of Africa’s biggest oil producer. Between June 2021, and June 2022, dollar-to-naira…

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Recent data from the money and credit report of the Central Bank of Nigeria (CBN) has shown that currency in circulation in Nigeria fell by N37.94 billion in February to N3.25 trillion compared to N3.29 trillion recorded as of January 2022.…

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The International Monetary Fund (IMF) says that the Nigerian currency rate has depreciated by 10.6% per year since 1973. This is according to data analyzed by the IMF and revealed in the “Nigeria: Selected Issues…

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The exchange rate between the Naira and the US dollar at the official Investors and Exporters (I&E) window closed at N415/$1. Naira recorded a marginal gain against the US dollar following the resumption of trading activities after…

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The exchange rate between the naira and the US dollar closed at N414.73/$1 at the official Investors and Exporters (I&E) window. Naira appreciated against the US dollar on Thursday to close at N414.73/$1, representing a 0.09% gain…