The exchange rate between the naira and dollar in the official NAFEM Window has depreciated to N1,533.99/$1 on Thursday, May 16, 2024. This represents a massive 4.89 percent drop in one day when compared to the N1459.02/$1 recorded a day…
The naira on Tuesday continued its free fall across the foreign exchange (FX) market, depreciating to a new low of 1,530 per dollar on the parallel market, also known as the black market. This represents 0.98 percent (N15/$1) depreciation compared…
Naira’s woes continue for the second week as legitimate operators of Bureau De Change, BDC, await the Central Bank of Nigeria’s intervention. FMDQ data showed that the naira dipped to N1520.40 per dollar on Tuesday from N1478.11. This represents N42.29…
Naira trades to dollar at 1,515/$ in parallel marketThe naira on Monday extended depreciation against the dollar falling to 1,515 on the parallel market, popularly called black market. This represents 2.97 percent (N45/$1) depreciation against the US dollar when compared…
The International Monetary Fund (IMF) has expressed concerns over the Nigerian government’s strategy to issue domestic dollar-denominated bonds, according to the recently published IMF staff country report for Nigeria. The Fund warns that this move could exacerbate pressures on the…
Despite great rebuttals against the racist rhetoric that Africa is a country, experience proves otherwise. The continent suffers under the hegemony of corruption and greed. Days ago, an Ugandan Senator, Protazio Begumisa showed off a wooden bridge he ‘constructed’ for his…
The Naira on Monday further appreciated at the official market, trading at N1,354.21 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the…
…Vows to support digital assets players contributing to economic growth By Matthew Denis, Abuja In a strategic move to curb the Vows to support digital assets players contributing to economic grow the manipulation of the Naira in the Fx market…
By Jide Akinseye Agriculture holds significant potential to boost Nigeria’s foreign exchange earnings. As one of the most populous countries in Africa with a rich endowment of agricultural resources, it is no news that Nigeria cannot only meet its own…
The Association of Bureau De Change Operators of Nigeria (ABCON) has warned economic saboteurs speculating and hoarding the Naira to desist from such act. ABCON President, Alhaji Aminu Gwadabe, in a statement on Friday, also said the association would establish…
