The Naira depreciated further to N1,534/$ on Monday according to data on the Central Bank of Nigeria and FMDQ website. This is a landmark as it is the first time the dollar would be exchanging at over N1,500 since the…
Nigeria’s currency, Naira/ gained against the dollar on Monday, 5th February 2024 at both the official market and the black market. The Naira appreciated/ marginally at the end of the day by 1.10 percent/ to close/ at/ N1,419.86/ to a…
By Dakuku Peterside On Sunday, August 15, 1971, the United States economy was literally facing a firing squad. The Dollar was in a mess. Price gougers were everywhere and foreign exchange was cruel to the Dollar. The newspaper headlines were…
The Federal Government of Nigeria has pledged to undertake significant macroeconomic reforms in response to the ongoing depreciation of the Naira in the Forex market. The commitment was made by the Minister of Information and National Orientation, Mohammed Idris, during…
The Finance Minister and Coordinating Minister for the Economy, Wale Edun has met with the Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso and the Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede. The meeting,…
By Sodiq Adelakun The Naira experienced a severe depreciation against the US dollar, closing the month of January at an unprecedented rate of N1,455.59. This marked a staggering 37.6 percent decline within a single month. The previous month of December…
…Accuse banks of hoarding FX to increase profits By Sodiq Adelakun In response to the ongoing depreciation of the Naira, the Central Bank of Nigeria (CBN) has taken a decisive step to stem the tide of currency speculation and hoarding…
The Nigerian naira plummeted to an unprecedented low against the US dollar on the official market, as reported by FMDQ Exchange on Wednesday. The currency’s value dipped alarmingly during Tuesday’s trading session, reaching a low of 1,531 naira to the…
Financial experts have advised the Nigerian government on how to stabilise the Naira against the US dollar in the foreign exchange market. The Naira was quoted at N891.90 per dollar on Friday, while it stood at N1,420 per dollar on…
The Naira has appreciated against the US dollar, closing the week on an impressive note at the foreign exchange market on Friday. Data from FMDQ showed that the Naira weakened to N891.90 per Dollar on Friday from N900.96 per US…
