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Tag: Naira
Excitement As Nigeria’s Naira Sustains Rally at parallel market
The Nigerian naira has strengthened further across the foreign exchange (forex) markets amid expectations that the national currency will continue to gain weight in the period ahead. At the Nigerian…
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NBS Report: Naira Crash Pushes Raw Material Imports To N3trn
Imports of raw materials into the country rose by 25 per cent to N3tn in 2023 and this is according to the Foreign Trade Statistics data published by the National…
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Naira sells below 1,280/$ at official, parallel markets
The naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39 per dollar recorded last week Thursday. This indicates an increase…
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Economists : Why Price Of Food Won’t Drop Immediately Despite Naira Appreciation
Economists have stated that it will take some time for Nigerians to feel the impact of the current strengthening of the naira against the dollar on the prices of commodities…
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Sell dollar in your possession, Oluwo charges rich Nigerians
The Oluwo of Owo, Oba Abdulrosheed Akanbi, has challenged wealthy Nigerians to demonstrate patriotism by selling dollars in their possession. Oba Akanbi who blamed the hike in the naira-dollar exchange…
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Naira appreciates further to N1382 per dollar as presidency warns speculators
The naira maintained a steady appreciation against the United States dollar on Thursday, gaining N18 to close 1,382/$ at the official market. This came as Presidency warned currency speculators to…
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Over $300m Sold To Banks By CBN As Naira Gains
The Central Bank of Nigeria has given over $300m to Deposit Money Banks in the last two weeks amid desperate efforts to stabilize the naira-dollar exchange rate. The…
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Experts Identify How The Naira Can Be Resuscitated
Worried by the parlous state of the economy, especially the unprecedented fall in the value of the nation’s legal tender in recent times, a cross section of experts have suggested…
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Bureau de Change Operators Knocked for Dollar Scarcity, Naira Depreciation
Bureau De Change operators have said hoarding of the dollar is the major factor fuelling naira depreciation. While raising an alarm due to the depreciation in the value of the…
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As Naira Loses 39%, Manufacturers May Embark On Mass Retrenchment
The naira has depreciated by 38.9 percent against the United States dollar at the official I&E window of the Central Bank of Nigeria in the past three months, according to…
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