By Sodiq Adelakun Following the unification of the naira, Nigeria’s total public debt rose by fiat to N82 trillion. It was N73 trillion before the unification. Recall that the Central Bank of Nigeria (CBN) issued a statement titled Operational Changes…
Economists have continued to give kudos to the Central Bank of Nigeria (CBN) for allowing the Naira to float freely on the Investors and Exporters (I&E) window. Banks are now allowed to trade foreign exchange on the I & E…
In a bid to move away from a fixed foreign exchange policy, Nigeria’s Central Bank has loosened control of rates in what appears to be a managed float. It was gathered that from one of Nigeria’s leading banks that the…
Nigeria’s currency on Friday slipped further against the dollar by 0.26 per cent as demand increased at the parallel market. During the intraday foreign exchange trading on Friday, the dollar traded at the rate of N765 compared to N763 on…
By Sodiq Adelakun Naira has on Monday strengthened by 0.26 per cent against the dollar as demand slows at the parallel market, also known as black market. Traders said on Monday that there was enough dollars but not much demand…
Naira on Thursday tumbled against the dollar following strong demand from importers and travellers amid scarcity of the greenback at the parallel market, traders said. Dollar was being traded at the rate of N762 on Thursday, this represents 0.26 per…
The scarcity of the naira increased the reliance on mobile devices for financial transactions by 505.29 per cent in the first quarter of 2023, data from the Nigeria Interbank Settlement System has indicated. The value of mobile transactions rose by…
The Nigerian naira currency has fallen on Binance’s P2P trading platform due to the country’s deteriorating economy and drop in FDI. The USDT/NGN pair traded at N737 to $1 on Saturday, compared to N702 on April 10. This marks a…
Some residents of Abuja and environs have decried the scarcity of the new naira notes. The Central Bank of Nigeria (CBN) has restored the old 200, 500 and 1000 naira notes to remain as legal tender until Dec. 31. Newsmen…
By David Awoyemi Naira depreciated by 0.17 per cent yesterday at the official Investors and Exporters (I & E) Window as the Central Bank of Nigeria (CBN) struggles to sustain its float-management stance. Trading report obtained indicated that naira depreciated…
