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 International Finance Corporation (IFC) and the Central Bank of Nigeria (CBN) have announced a partnership and collaboration which aims to increase local currency financing for Nigeria’s priority sectors, addressing a critical gap in funding for key areas such as…
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.…
The Governor of the Central Bank of Nigeria (CBN) Mr Olayemi Cardoso, has defended the decision of the apex bank to float the naira since he assumed office in the past one year. While addressing members of the Harvard Club…
The Naira concluded September 2024 at N1,541 on the official NAFEM window, showing a modest improvement compared to its performance in July and August 2024. Conversely, in the parallel market, the Naira reached its lowest level in seven months, closing…
By Seun Ibiyemi The federal government is proposing that the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Port Authority (NPA) begin collecting charges, fees, fines and others in Naira rather than in foreign currencies. The Special Adviser…
By Esther Agbo To fortify its financial standing, Ecobank announced recently that it has secured approval from bondholders to increase its capital buffer by 10 percent. This decision comes as the bank navigates economic pressures exacerbated by the devaluation of…
In the black market, the Nigerian naira lost N5 against the dollar, trading at N1,645/$1, down from N1,640 In the official window, the naira dropped even further against the US dollar on Wednesday, September 4, 2024. Data from the Nigerian…
The exchange rate between the naira and the dollar fell to a six-month low of N1,625.88/$1 on the official NAFEM market on Wednesday, August 4, 2024. This marks the lowest exchange rate since March 8, 2024, when it was recorded…
