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April 21
Nigeria: Naira Will Continue to Appreciate Against the Dollar - Shettima
Vice President Kashim Shettima has expressed optimism about the performance of Nigeria's currency, the Naira, at the forex market, saying it will appreciate more as the dollar… Read more »
April 17
Nigeria: Naira Abuse - EFCC to Arraign Cubana Chief Priest Today
Economic and Financial Crimes Commission (EFCC) will today arraign a businessman and socialite Pascal Okechukwu, also known as Cubana Chief Priest, before the Federal High Court in… Read more »
Nigeria: Naira Dips to N1,050 As Foreign Reserves Deplete to 7-Year Low
The value of the naira rescinded some of its gains yesterday selling at N1,050 to the dollar at the parallel market, as the external reserves of the country declined to its lowest… Read more »
April 14
Nigeria: Naira to Emerge Best Performing - Goldman Sachs
With the value of the naira already stronger at around N1150 to the dollar at the parallel market, a big jump from the low of N1890 which it was earlier this year, Goldman Sachs… Read more »
April 15
Nigeria: Naira Surges Against Dollar, Hits 5-Month High
The Naira experienced a significant rally against the US Dollar, breaking through critical resistance levels to trade below N1,000 in some segments of the black market as of late… Read more »
March 27
Nigeria: Exchange Rate - Marketers Deny Downward Adjustment in Petrol Pump Price
Petroleum product marketers and other operators in the downstream sector, have denied speculations that pump price of petrol at depot facilities have been adjusted downwards. Read more »
March 22
Nigeria: Naira Gains 10 Percent to N1,382/$ After CBN Clears Forex Backlog
Following the clearing of all valid foreign exchange backlogs by the Central Bank of Nigeria (CBN) on Wednesday, and increased inflow at the Nigeria Autonomous Foreign Exchange… Read more »
March 04
Nigeria: Devaluation, Energy Cost - Airport Grand Handlers Seek Review of Charges
Ground handlers operating at the nation's airports have called for an upward review of charges due to the current economic headwinds in the country. Read more »
February 26
Nigeria: 'Peg Customs Exchange Rate At N1000/$1 to Ease Hardship'
Following the adjustment of the exchange rate for importation more than six times this year, the Central Bank of Nigeria (CBN) has directed that the rate to be used by the Nigerian… Read more »
February 20
Nigeria: Save the Naira, Stop the Blame Game
As this concern persists, there are attempts to put the blame on banks. As far as this newspaper knows, banks are just a factor in the entire matrix. Critical as they may be, other… Read more »
Nigeria: Naira Falls to N1,598.54/$, N1,720/$ Amid Reforms
The value of the naira continued to plummet, reaching new lows at both ends of the markets declining by 4.4 per cent and 9.5 per cent at the official and parallel markets… Read more »
February 05
Nigeria: Naira - Comedy Inside a Tragedy
On Sunday, August 15, 1971, the United States economy was literally facing a firing squad. The Dollar was in a mess. Price gougers were everywhere and foreign exchange was cruel to… Read more »
January 18
Nigeria: Naira Redesign Contributed to 'Clean Election' - Buhari
Former President Muhammadu Buhari has strongly defended the redesign of the Naira by the Central Bank of Nigeria ahead of the 2023 general elections, stating that the policy… Read more »
November 06, 2023
Nigeria: Naira Regains Ground to 970/$ At Parallel Market
The naira has appreciated to N970 per dollar on the black market, as government's plans to shore-up dollar liquidity in the foreign exchange (FX) market, triggered positive… Read more »
November 01, 2023
Nigeria: New CBN Forex Policy Threatens N12trn Poultry Industry - Operators
The over N12 trillion, including 20 million jobs created in Nigeria's poultry industry, is facing collapse following the new forex policy and the lift in the ban on imported… Read more »
October 27, 2023
Nigeria: Experts Say De-Dollarising Economy Will Halt Naira Free Fall
Amid rising free fall of the Naira both at the official Nigerian Foreign Exchange Market (NAFEM) and the unofficial market, financial experts have called on the Central Bank of… Read more »
October 16, 2023
Nigeria: Central Bank Chief May Abandon Anchor Borrowers, eNaira, Currency Redesign
New governor of the Central Bank of Nigeria, Olayemi Cardoso, may have opted out of some key development finance projects of his predecessor, Godwin Emefiele, a move that will halt… Read more »
August 15, 2023
Nigeria: Central Bank Moves to Clamp Down On Forex Speculators
The Central Bank of Nigeria (CBN) has taken proactive measures to counteract the depreciation of the naira, with imminent interventions set to be unveiled within the coming days. Read more »
July 10, 2023
Nigeria: Naira Unification - Forex Inflow Rises By 28% to U.S.$1.41 Billion
Following the harmonisation of the exchange rates in the country by the Central Bank of Nigeria (CBN), the total inflows into the Importers & Exporters (I&E) Window… Read more »
March 10, 2023
Nigeria: Rejection of Old Naira Notes, Breach of Law, Akeredolu Tells Residents
Ondo State Governor Oluwarotimi Akeredolu has decried the rejection of old naira notes by a large section of traders and business owners in the state. Read more »
March 09, 2023
Nigeria: CBN's Silence - Motorists, SMEs, Stores Reject Old Naira Notes
Several traders, motorists, Small and Medium Enterprise(SME) vendors and micro-sector operators are yet to come to terms with accepting the old N500 and N1000 notes despite the… Read more »
March 08, 2023
Nigeria: X-Raying the Gains of Cashless Policy
The Central Bank of Nigeria Act 2007 stipulates that the Bank shall have powers to print, redesign, destroy, and re-distribute currencies. Specifically, Section 20(3) of the CBN… Read more »
March 04, 2023
Nigeria: Naira Redesign - MAN Raises Alarm Over Impending Job Loss
The Manufacturers Association of Nigeria(MAN) has said, the redesign of Naira notes, among other factors, have negatively affected the economy and tends to worsen employment in the… Read more »
February 19, 2023
Nigeria: 10 States Drag Federal Govt to Court Over Naira Swap Policy
Ten states in the country have asked the Supreme Court to set aside the ban by President Muhammadu Buhari on use of the old N500 and N1,000 notes as legal tenders. Read more »
February 17, 2023
Nigeria: Naira Swap Policy - States Vow to Fight On Against Buhari's Decision
Some state governments have challenged President Muhammadu Buhari's decision to stick with the deadline for the naira swap policy, which he stated in yesterday's national… Read more »
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