The naira held its ground at the official foreign exchange (FX) market on Tuesday, buoyed by improved liquidity conditions across trading platforms. At the close of trading, the naira strengthened marginally against the US dollar, appreciating by N5.53 to settle…
The Naira appreciated on Monday at the official market, trading at N1,531.19 to a dollar. Data from the Central Bank of Nigeria (CBN) website showed that the Naira gained N5.70. This represents a 0.37 per cent gain when compared to…
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 13 pips to 7.1705 against the dollar on Friday. This is according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan…
…Arrest three suspects Olawale Afolabi The Nigeria Police Force (NPF) has announced the seizure of counterfeit currencies valued at N129 billion in Kano state. In a statement issued on Tuesday, Muyiwa Adejobi, the NPF spokesperson, revealed that three suspects, identified…
The naira slumped further against the dollar at the foreign exchange market to end the week on a negative note. FMDQ data showed that the naira weakened to N1,652.25 per dollar on Friday from N1,645.45 recorded on Thursday, posting a…
The Naira closed the week stronger on Friday at the official market, trading at N1,600 to the dollar. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira gained N1.20. This represents a 0.07 per cent…
The naira depreciated against the dollar at the foreign exchange market to end the week on a negative note. FMDQ data showed that the naira weakened to N1641.27 per dollar on Friday from N1622.57 exchanged on Thursday, recording N18.7 loss.…
Nigeria’s foreign exchange (FX) reserves rose by $621.2 million in 10 days following the successful sale of a domestic dollar bond. The gross FX reserves increased from $36.24 billion on September 2, 2024, to $36.87 billion by September 12, 2024.…
The naira on Tuesday traded at N1,640 following strong demand for dollars amid scarcity on the parallel market, popularly called the black market. This represents 44 percent loss year-on-year and a daily loss of N5 when compared to N918 and…
There are divergent views about Nigeria’s ability to attain a $1 trillion economy by 2030. I am still optimistic, as it is too early to conclude that it won’t be achievable. Nigeria’s economy has shown signs of improvement and potential…
