Following the Easter holiday break, the foreign exchange (FX) market reopened on Tuesday with a notable surge in the value of the Naira against the US dollar. Bureau De Change (BDC) operators reported buying the dollar at N1,220 and selling…
The beginning appreciation of the Naira against the dollar as a result of the positive policy formulation from the Monetary Policy Meetings (MPC) is a welcome development by the steering team led by the Governor of the Central Bank of…
The naira is poised to maintain its upward trajectory against the US dollar, propelled by the recent decision of the Central Bank of Nigeria (CBN) to increase interest rates. However, the banking sector may resist a new regulation that excludes…
By Sodiq Adelakun The Naira demonstrated remarkable resilience against the US dollar throughout March 2024, signaling a pivotal moment in Nigeria’s exchange rate trajectory. Official data revealed that the Naira concluded the month at an impressive rate of N1309/$1 on…
…Nigeria implements key reforms to stabilise FX marke By Sodiq Adelakun Naira has continued in its upward trajectory, appreciating against the US dollar as it is currently selling at N1,280 on the parallel market, buoyed by recent foreign exchange (FX)…
The Vice President Kashim Shettima has assured that the Naira will continue to stabilise in the coming weeks and months. Shettima gave the assurance at the inauguration of the National Design and Innovation Competition, held at the Presidential Villa, Abuja,…
Nigerian importers are experiencing a welcomed respite as the nation’s currency, the naira, continues to gain strength in both official and parallel markets. The Central Bank of Nigeria (CBN) has implemented further measures to support this trend by reducing the…
By Sodiq Adelakun The Naira, witnessed a significant boost as the dollar rate plummeted to N1,450 at the black market on Monday. This surge, marking a 2.07 percent increase, was attributed to speculators offloading hoarded foreign currency, resulting in a…
By Sodiq Adelakun A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu has challenged the notion that the naira will stabilise at N400 to the dollar, labelling it as unrealistic. Moghalu conveyed this perspective through a series…
By Sodiq Adelakun The Euro has reached unprecedented heights against the Nigerian Naira, soaring to an exchange rate of N1,667.298 in the black market as of March 20, 2024. This surge underscores a remarkable 46 percent appreciation of the European…
