By Elizabeth Adegbesan The naira yesterday depreciated to N1,585 per dollar in the parallel market from N1,570 per dollar on Monday. But the Naira appreciated to N1,527 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to […]

The Naira, which has seen steady appreciation against the Dollar all week, closed stronger on Friday, trading at ₦1,580.44 in the official forex market. Data from the Central Bank of Nigeria’s website show the Naira gained ₦4.51k against the Dollar on Friday alone. This marks a 0.28 per cent appreciation from Thursday’s closing rate of […]

By Elizabeth Adegbesan THE naira yesterday appreciated to N1, 620 per dollar in the parallel market from N1,625 per dollar on Monday. But the Naira depreciated to N1,598.69 per dollar in the Nigerian Foreign Exchange Market (NFEM), Data published by FMDQ showed that the exchange rate for the naira rose slightly to N1,598.69 per dollar […]

•Vows to back reforms to simplify trade regulations By Yinka Kolawole The Speaker, House of Representatives, Tajudeen Abbas, has said that more than  75 percent of goods offloaded in the Benin Republic ports are bound for Nigeria, blaming inefficiencies and high costs at Nigerian ports. Abbas stated this when he received a delegation from the Presidential […]

By Elizabeth Adegbesan The naira yesterday depreciated to N1, 635 per dollar in the parallel market from N1,625 per dollar on Tuesday. The Naira has recorded a 1.8 percent or N29 depreciation in the parallel market from the beginning of this month till date. However, the Naira appreciated to N1,596 per dollar in the Nigerian […]

Cartoon: Wrong target, as inflation run away

According to the ministry, the stakeholders reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council (FEC).

By Emeka Anaeto, Business Editor Inflationary pressures coupled with foreign exchange volatility, and high interest rates have continued to strain businesses and households in Nigeria. Stating these at the backdrop of the upcoming Vanguard Economic Discourse, Dr. Femi Egbesola, President, Association of Small Business Owners of Nigeria (ASBON), added that amongst the key macroeconomic headwinds […]

By Elizabeth Adegbesan The Naira yesterday appreciated to N1, 560 per dollar in the parallel market from N1,570 per dollar on Wednesday. But the Naira depreciated to N1,540 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira […]

By Elizabeth Adegbesan The Naira yesterday depreciated to N1, 585 per dollar in the parallel market from N1,580 per dollar last weekend. But the Naira appreciated to N1,533 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira […]

“One Sarina, who boarded Ethiopian Airlines from Jeddah, Saudi Arabia, was found concealing a total sum of $193,000 inside a carton of yoghurt”

By Elizabeth Adegbesan The Naira yesterday appreciated to N1, 590 per dollar in the parallel market from N1,600 per dollar last weekend. However, the Naira depreciated to N1,549 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira […]

THE uncertainty caused by the ongoing tariff war between the United States and some countries have triggered the exit of foreign exchange outflow from Nigeria

Consequently, the margin between the parallel market and NFEM rate widened to N57.5 per dollar from 88 kobo per dollar on Thursday.

“As we shift from unorthodox to orthodox monetary policy, the CBN remains committed to restoring confidence