By Seun Ibiyemi The Nigerian Naira closed January 2025 at N1, 475/$1, marking its strongest performance since May 2024. The Nigerian currency was officially exchanged for N1, 485 to a dollar in May 2024, the strongest until January 31, 2025.…
The naira gained strength on Monday, appreciating to N1,650 per dollar in the parallel market, as the U.S. dollar experienced its most significant weekly loss. This marked a 0.6 percent gain, or N10, from the N1,660 per dollar recorded on…
The Chief Executive Officer of Economic Associates, Dr Ayo Teriba has urged the Federal Government to further stabilise the Naira to reduce poverty among citizens. Teriba said this in an interview with newsmen on Monday in Lagos. He said this…
Nigeria’s public debt profile has yet again increased by N8.02 trillion to N142 trillion as at the end of September 30, 2024, driven by the depreciation of the Naira that has continued to affect the country’s cost of external obligation.…
The naira ended the week flat in the foreign exchange market as the external reserves declined in the early part of the year. According to data from the Central Bank of Nigeria (CBN), the naira lost 0.2 percent or N3.50…
…hits N1,647/$ in parallel market By Seun Ibiyemi The naira experienced sustained pressure across foreign exchange markets this week, closing at N1,544.50/$ on the official market and trading as high as N1,647/$ in the parallel market. On Friday, January 10,…
After years of economic turbulence, Nigeria’s financial outlook for 2025 is beginning to look promising, with experts predicting a stabilisation of the naira, a decline in inflation, and a reduced Monetary Policy Rate (MPR). These optimistic projections stem from a…
The naira began the new year trading at a stable rate across various foreign exchange (FX) markets, maintaining a relatively consistent performance as observed on Thursday. At the official market, also known as the Nigerian Foreign Exchange Market (NFEM) the…
The Central Bank of Nigeria (CBN) has reaffirmed that all denominations of Naira banknotes, including old and new designs, will remain valid as legal tender indefinitely. This clarification comes amid circulating misinformation regarding the validity of old Naira notes. In…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has vowed to impose a N150 million fine per branch on any bank releasing naira notes to currency hawkers in the country. The CBN gave the warning in a circular signed…
