Naira
naira now world’s worst performing currency -bloomberg
Nigeria’s currency, the naira, has recently experienced a significant downturn, emerging as the worst performing currency globally over the past month, as reported by Bloomberg.
The latest report underscores the mounting pressure on the Central Bank of Nigeria (CBN) … Continue Reading
“Naira will continue to stabilize” – VP Shettima
Vice President Kashim Shettima expressed confidence in the continued stabilization of the Nigerian Naira in the coming weeks and months in an address at the inauguration of the National Design and Innovation Competition held at the Presidential Villa in Abuja. … Continue Reading
Naira Surges in Value, Sells for N900 Per Dollar in Lagos Black Market
In a recent turnaround, the value of the Nigerian naira has soared in Lagos and Kwara States, trading between N900 and N1,210 per dollar on the black market on Wednesday.
This remarkable increase comes in the wake of actions taken … Continue Reading
Tinubu Urges Nigerians to Patronize Made-in-Nigeria Products to Sustain Naira Gains
President Bola Tinubu has called on Nigerians to support and patronize made-in-Nigeria products and services to sustain the recent gains of the naira in the foreign exchange market.
Tinubu emphasized that while the recent appreciation of the naira against the … Continue Reading
Presidency Warns: Dump Your Dollars to Avoid Tears, Naira Set to Appreciate
The Presidency has issued a stern warning to forex speculators, urging them to divest their holdings in dollars. The call comes amidst promising indicators suggesting that the Naira is poised to appreciate in value in the near future.
Bayo Onanuga, … Continue Reading
Today Exchange Rates: Naira Appreciates to N1460 Per Dollar in Black Market
The Nigerian Naira has seen an appreciation today February 28, 2024, gaining against the US dollar and selling at N1460 to a dollar in the black market.
The black market rate is subject to certain factors like Supply and demand … Continue Reading
Peter Obi Faults Government’s Crackdown on Bureau de Change Operators
Peter Obi Highlights Misguided Approach and Calls for Economic Reforms
Former governor of Anambra state and presidential flagbearer of the Labour Party in the last Nigerian elections, Mr. Peter Obi has faulted Nigerian government’s approach to ending the dollar to … Continue Reading
Naira Slides as Banks Sell $3.3 Billion Amidst Fresh Forex Market Concerns
CBN Grapples with Increased Gap Between Official and Parallel Markets
The Nigerian naira witnessed a fresh decline against the US dollar, both in the official and parallel foreign exchange markets on Friday, raising concerns amidst efforts by the Central Bank … Continue Reading
Nigerian Government Mulls Conversion of Foreign Currency in Dom Accounts to Naira
Move Aims to Stabilize Naira Amidst Record Fall
The Federal Government of Nigeria is reportedly considering a policy shift that would involve converting foreign currencies in domiciliary accounts to naira.
Sources within the Presidency reveal that the plan is designed … Continue Reading
Naira vs Dollar: Government Takes Drastic Measures to Address Naira Free Fall: BDCs Shut Down in Abuja
DSS Intervenes as President Tinubu’s Administration Grapples with Naira Crisis
President Bola Tinubu’s government has orchestrated the closure of Bureau De Change (BDC) centres in Nigeria’s capital, Abuja.
The directive allegedly came as a response to Naira’s record low against … Continue Reading