5 Measures To Stabilize Naira As Value Sinks To New Low Of N1,400/$1
Concerns about the impact of persistent depreciation of the value of the naira on Nigerian economy have continued to worry stakeholders in different stakeholders.
Suggestions
Persisting Forex Crisis Threatens Nigeria’s $1trn Economy Ambition
Analysis by Prime Business Africa has shed light on Nigeria’s struggle to achieve its $1 trillion economy goal amidst the forex exchange market turmoil and the naira’s persistent weakness. The devaluation of the naira has resulted in $193 billion loss in the
C&I Leasing Forecasts 2024 Forex Impact, Ensures Dividends Amid FX Volatility
The Group Managing Director/Chief Executive Officer of C&I Leasing, Mr Ugoji Lenin Ugoji, has highlighted the impact of foreign exchange dynamics in the upcoming year, while assuring shareholders of dividend payouts amidst ongoing FX volatility.” Ugoji addressed shareholders at the 32nd Annual
CBN Finally Lifts Forex Restrictions On 43 Items Banned By Emefiele [FULL LIST]
Nine years after the Central Bank of Nigeria (CBN) under its former Governor, Godwin Emefiele, placed restriction on access to the official foreign exchange (forex) market for the importation of some 43 items, the ban was on Thursday lifted by the
Access Bank Reduces Forex Payout For International Students, Traders
Access Bank has reviewed its foreign exchange (FX) application for international school fees, a move that indicates other banks might follow suit. Account holders of Access Bank received a message titled; “important information on Form A request’, informing them that the processing time
Naira Weakens, Dollar Rate Rises In Official Market
Traders and investors exchanged the Naira and Dollar at N461.50/$1 on Friday, 10 March 2023, the FMDQ Exchange data has disclosed. The foreign exchange (Forex) rate rose from N461.00/$1 reported on Thursday, 9 March 2023, indicating the Naira depreciated by -0.11 per
How Nigerian Youths, Traders Strengthen Dollar Against Naira, Prospects For 2023
The Naira suffered heavy depreciation against the United States Dollar (USD) in 2022 in the official channel and the Bureau De Change-controlled Black market. Despite some notable policies by the Central Bank of Nigeria (CBN) to strengthen the Naira’s chances against the
Forex Transaction Drops In Official Market, Dollar Rate Rises In Black Market
The volume of foreign exchange (forex) traded on Tuesday, 17 January 2023, fell by 72 per cent in the Investors and Exporters (I&E) window of the official market. According to data obtained from the FMDQ Exchange, which monitors foreign exchange rates in
Dollar Rate Rises As CBN Finds It Difficult To Supply Forex
The naira couldn’t hold its ground against the dollar on Friday, 13 January 2023, depreciating in value by 0.16 per cent, data from the FMDQ Exchange has shown. According to the data rate aggregator of the official market, it was learnt that
Dollar Goes For N740 In Black Market, Maintains N200 Above Official Forex Rate
As Nigerians celebrate the yuletide period, the dollar rate remains at a premium in the black market, as the naira exchanged at N740/$1 on Tuesday. The exchange rate between the naira and the dollar in the parallel market maintains more than N200
Featured Stories
Whatsapp Channel
Latest News
Japan’s Stocks Could Rally Further As Takaichi Becomes First Female PM
Takaichi's historic election as Japan's first female leader has given
UPDATED: Moniepoint Managers Speak On $200 million ‘Miraculous’ Fundraise – Backed by DPI, Google, Visa, IFC, and LeapFrog
The move follows UK market entry and launch of digital
‘Rare Earths ‘Arms Race’ Will Define 2026’
The global scramble for rare earths and other critical minerals
Gold Steady Above USD 4,250, Markets Await CPI, US-China Talks
Friday's decline followed remarks by President Donald Trump, who dialled
Follow Us