The Federal Government has hinted that the construction of coastal routes in Nigeria has the potential to attract foreign investment and contribute to a stronger naira. The Minister of Works, Sen. Dave Umahi, gave the hint at the unveiling of the new design routes for the Lagos-Calabar Coastal...
Naira
The Naira on Tuesday closed the month of April on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM),...
The Naira on Monday further depreciated at the official market, trading at N1,419.11 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N79.88 This represents a 5.96 per...
Sen. Ned Nwoko, has advised the Federal Government and the Central Bank of Nigeria (CBN) against any measures that is capable of `artificially` forcing the Naira to gain value against other currencies. Nwoko, who represents Delta North, gave the advice in a statement he personally signed and made...
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 a unified retail-end forex market to tackle volatility...
The Naira on Wednesday further depreciated at the official market, trading at N1,308.52 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N8.37. This represents a 0.64 per...
The Naira on Tuesday depreciated at the official market, trading at N1,300.15 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N65.66. This represents a 5.3 per cent...
The Naira on Monday slightly depreciated at the official market, trading at N1,234.49 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N64.50. This represents a 5.51 per...
Vice President Kashim Shettima has expressed optimism that the Naira would continue to appreciate against 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 officials of the Lagos Chamber of Commerce and...
The Naira on Friday experienced huge appreciation at the official market, trading at N1,142.38 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira gained N88.23. This represents a 7.16...
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has warned bank customers to desist from using foreign currency as collateral for Naira loans. The CBN Acting Director, Banking Supervision Department, Adetona Adedeji, gave the warning in a statement on Monday, in Abuja. Adedeji said that...
The Naira on Friday strengthened at the official market, trading at N1,251.05 to a dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira gained N4.02. This represents a 0.32 per cent...
The Naira gained at the official market as it traded at N1,255.07 to a dollar on Thursday. Data from the official trading platform of the FMDQ revealed that the Naira gained N7.78. This represents a 0.62 per cent appreciation when compared to the previous day’s trading on Wednesday,...
By ANKELI EMMANUEL, Sokoto – Impressed by the recent appreciation of the naira over the dollar, former Governor of Sokoto State and Senator representing Sokoto North, Aliyu Maatakarda Wamakko has appealed to marketers to fear God and reduce prices of goods to make life bearable for Nigerians. Senator...
Naira gained further at the official market, trading at N1,262.85 to a dollar on Wednesday. Data from the official trading platform of the FMDQ revealed that the Naira gained N15.73. This represents a 1.23 per cent appreciation when compared to the previous day’s trading on Tuesday, exchanging at N1,278.58...
The Naira gained at the official market, trading at N1,278.58 to a dollar on Tuesday. Data from the official trading platform of the FMDQ revealed that the Naira gained N30.81 or 2.35 per cent, compared to the previous trading date on Thursday, March, 28, 2024 just before the...
CBN’s aggressive monetary policy tightening will boost foreign investment, strengthen Naira – Expert
CBN’s aggressive monetary policy tightening will boost foreign investment, strengthen Naira – Expert
A renowned Economist, Prof. Ken Ife, says aggressive monetary policy tightening adopted by the Central Bank of Nigeria (CBN) will attract foreign portfolio investments to the country. Ife, who is the Lead Consultant on Private Sector Development to ECOWAS Commission, said this in an interview with the News...
The President, Association of Bureau De Change of Nigeria (ABCON), Aminu Gwadabe, has said the recent monetary policy decisions of the Central Bank of Nigeria (CBN) have made the Naira to gain strength. Gwadabe said this in a telephone interview with the News Agency of Nigeria (NAN) on...
The Naira experienced a slight depreciation at the official market, trading at N1,309.39 to a dollar on Thursday. Data from the official trading platform of the FMDQ revealed that the Naira lost N8.96 or 0.69 per cent, compared to the previous day’s rate of N1,300.43 against the dollar....
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, on Wednesday. The News Agency of Nigeria (NAN) reports...