The Naira on Friday depreciated against the dollar at the Investors and Exporters window, exchanging at N431.50. The figure represented an increase of 0.35 per cent, compared with N430 it exchanged for the dollar on Thursday. The open indicative rate closed at N429.10 to the dollar on Friday. An...
Naira
The Naira on Friday appreciated against the dollar at the Investors and Exporters window, exchanging at N430.33. The figure represented an increase of 0.08 per cent, compared with N430.67 it exchanged for the dollar on Thursday. The open indicative rate closed at N429.50 to the dollar on Friday. An...
Some financial experts have advised the Central Bank of Nigeria (CBN) to leverage technologies and innovations by the BRICS countries to strengthen the naira. The experts gave the advice at the maiden edition of the Annual Banking and Technology Forum, organised by the Centre for Financial Studies of the...
The Naira on Tuesday further depreciated against the dollar at the Investors and Exporters window, exchanging at N430.67. The figure represented a decrease of 0.29 per cent, compared with N429.43 it exchanged for the dollar on Monday. The open indicative rate closed at N429.09 to the dollar on Tuesday....
.The Naira on Monday depreciated marginally against the dollar at the Investors and Exporters window, exchanging at N429.43. The figure represented a decrease of 0.09 per cent, against N429. 05 at the close of business on Aug. 19. The open indicative rate closed at N429.07 to the dollar on...
Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has met with representatives of Bureau de Change Operators in Abuja as part of efforts to check speculation in foreign exchange speculation. The EFCC believes currency speculation recently led to a drastic drop in the value of the naira....
Operatives of the Economic and Financial Crimes Commission (EFCC) on Friday stormed Wuse Zone 4, Abuja, home to most bureau de change operators in the Federal Capital Territory, A source said the raid was a covert operation to dislodge currency speculators who are alleged to be massively mopping up...
Media personality, Daddy Freeze has seemingly reacted to report of the dollar exchanging for N700 by sharing a 2016 tweet from General Overseer of Redeemed Christian Church of God (RCGG), Pastor Enoch Adeboye. Adeboye had written in the tweet “either the IMF likes it or not I decree the...
The Senate on Wednesday at plenary resolved to invite the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, to educate and inform senators in a closed session on the reasons for the rapid depreciation of the value of the naira. It also mandated the Senate Committee on...
By JOY ADARA, Abuja – The Nigeria’s Naira on Thursday, depreciated at the Investors and Exporters window, exchanging at N422.50 to the dollar, a 0.54 per cent depreciation against N420.25 traded on Wednesday. The open indicative rate closed at N420.26 to the dollar on Thursday. An exchange rate of...
Mr Osita Okechukwu, a cheiftain of the All Progressives Congress (APC), has appealed to President Muhammadu Buhari to rescue the Naira before it depreciates beyond redemption. Okechukwu made the appeal in a statement on Sunday in Abuja, in reaction to the alleged dollar rain in the just concluded Peoples...
After appreciating for two days, the Naira on Thursday dipped against the green back by 0. 21 per cent at the Investors and Exporters window. The local currency exchanged at 418.88 to the dollar, compared to 418 traded on Wednesday. The open indicative rate closed at N419 to the...
The Central Bank of Nigeria (CBN) has dismissed reports that it intends to replace the naira notes in circulation with digital currency, the eNaira, in due course. CBN Director, Corporate Communication, Mr Osita Nwanisobi, said in a statement on Saturday that the reports were false. According to him, the...
The Centre for the Promotion of Private Enterprise, an economic think tank, has advised the Central Bank of Nigeria to review its ban on some of the over 40 items which the regulator has stopped importers from accessing foreign exchange to bring into the country. Economists at the centre...
Prof Obadan was my best economics teacher at the University of Benin (Uniben). Soft spoken but highly articulate and intelligent, he was the real deal and made plenty sense always in and out of the classroom and I looked forward to his lectures. Unsurprisingly I scored good grades in...