Dollars scarcity worsens, forced Naira down
The scarcity of dollars at the parallel market on Tuesday in Lagos forced the Naira down to N480 to a dollar. The News Agency of Nigeria (NAN) reports that the Pound Sterling and the Euro exchanged at N610 and N550, respectively. Trading at the investors’ window saw the naira closing at N385.98 to a dollar as investors traded a […]
Naira depreciates to N367/$ as panic grips forex market
Indications emerged that Nigeria’s foreign exchange market has come under severe pressure leading to significant depreciation of the local currency, Naira, across all market segments.
War of wits: Lawyer allegedly sues FG, AGF, CBN over Arabic inscription on Naira, as Reno fires back
Since the introduction of naira in 1973, no Nigerian has ever criticized the inscription of Arabic language on naira notes except in 2020, when Malcolm Omirhobo, lawyer and Human Rights activist, Thursday queried and allegedly sued the federal government, Attorney-General of the federation and the Central Bank of Nigeria, CBN, to a federal high court over the emblazoned inscription on the Nigerian Army’s logo.
Naira depreciates by 50.5k as reserves drops to $38.7bn
By Babajide Komolafe On the foreign exchange scene, the naira continued its downward trend in the foreign exchange market as it depreciated by an average of 50.5 kobo in the parallel market and in the Investors and Exporters (I&E) window last week. While the naira depreciated for the sixth consecutive weeks by 51 kobo last […]
Naira set for N365/$ in I&E as demand for dollars intensifies
The Naira is set to depreciate to N365 per dollar in the Investors and Exporters (I&E) window before the end of the year following rising demand for dollars which is expected to intensify this week.
Naira depreciation to persist as reserves drops to 2yr low
The downward trend in the fortune of the naira against the dollar is expected to persist this week even as the nation’s external reserve falls to the lowest level in two years.
