Senator Ned Nwoko, has advised the Federal Government and the Central Bank of Nigeria (CBN) against any measures that ‘artificially’ force the Naira to gain value against other currencies. Nwoko, who represents Delta North, gave the advice in a statement…
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…
The Naira has slumped seven times in recent days against the US dollar at the foreign exchange. FMDQ data showed that the Naira recorded a seventh drop against the Dollar, quoting N1309.88 per Dollar on Thursday from N1308.52 on Wednesday.…
The war against Naira abuse by the Economic and Financial Crime commission (EFCC) seems selective but it is a good omen and stakeholders must rise to support the anti-corruption agency in its task. A few weeks ago two popular celebrities…
Vice President Kashim Shettima has expressed optimism that the Naira would continue to appreciate against the dollar at the forex market. Spokesperson of the Vice-President, Mr Stanley Nkwocha, in a statement on Saturday, said Shettima stated this at a meeting with…
By Dakuku Peterside There is no dispute that Naira abuse or more specifically the act of spraying money at social events has become an acceptable norm or cultural practice in Nigeria. Nigerians have a cultural affinity for lavish social gatherings.…
…Reflects on lessons learned in first six months as CBN boss …As CBN, Ministry of Finance forge strong alliance to combat inflation By Sodiq Adelakun The Governor of the Central Bank of Nigeria, Mr. Yemi Cardoso has clarified the stance…
LCCI advocates discipline, export to sustain Naira appreciationThe Lagos Chamber of Commerce and Industry (LCCI) has emphasised the importance of maintaining discipline in the foreign exchange market to sustain the steady appreciation of the Naira. The President and Chairman of…
The foreign reserve has depleted to $32.29 billion, which is a six-year low in the Central Bank’s course to save the naira. This is the lowest level the reserves have been since September 25, 2017, when it was $32.28 billion.…
Reports reaching Nigerian NewsDirect on Tuesday revealed that the Naira appreciated against the dollar significantly in some segments of the parallel market. A Bureau de Change operator who spoke to NewsDirect said he was trading a dollar to naira for…
