The naira appreciated by 0.16 percent to 1530.52/$ from 1532.93/$ in the previous trading session on the Nigerian Foreign Exchange Market at the close of trading on Wednesday. Data from the Central Bank of Nigeria showed that the naira traded at a high of 1545/$ and a low of 1500/$, which was lower than Tuesday’s…
The naira strengthened to 1,494.03/$ at the official window on Thursday according to data from FMDQ Securities Exchange Limited. Similarly, it appreciated at the parallel market to 1,510.00/$, further reducing the spread between the markets to 15.5/$. The gap between the official foreign exchange and the parallel market rates is closing, following the various policies…
The Naira rose to N1,493 in the official foreign exchange market on Thursday. According to data published by the Central Bank of Nigeria (CBN), the exchange rate for the Nigerian Foreign Exchange Market (NFEM) fell to N1,493 per dollar from N1,506 per dollar on Wednesday, indicating N13 appreciation for the naira. The official exchange rate…
The Naira has appreciated to N1,640 per dollar in the parallel market from N1,655 per dollar on Monday. According to data published by the Central Bank of Nigeria (CBN) showed that the exchange rate for the Nigerian Foreign Exchange Market (NFEM) fell to N1,526.3 per dollar from N1,533.5 per dollar on Monday, indicating N7.2 appreciation…
The Naira yesterday appreciated to N1,695 per dollar in the parallel market from N1,725 per dollar on Tuesday. The Naira remained steady at N1,672.69 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). According to data from FMDQ, the indicative exchange rate for the naira has stayed stable since Monday, following the start of…
By the conclusion of the second quarter of 2024, Nigeria’s total public debt stock had increased by N12.6 trillion in just three months to N134.3 trillion ($91.3 billion). This is a 10.35% growth compared to the N121.7 trillion ($91.5 billion) reported in the first quarter of this year. The devaluation of the naira, announced during…
According to Bureau De Change operators in Lagos and Abuja, the value of the naira fell on Wednesday at 1,705/dollar on the black market. Aliyu Sani, a BDC operator in Lagos, told The PUNCH that he purchased dollars at 1,695/$ and sold them for N1705. At N1,700, the pricing was lower in Abuja. According to…
The Naira’s decline in value intensified yesterday, as the official exchange rate was N1,639.41 to the dollar. According to the Nigerian Autonomous Foreign Exchange Market (NAFEM) rate, the dollar traded for N1,606 the day before, meaning that the figure yesterday showed a staggering loss of N34. The Naira dropped N5 versus the dollar Wednesday, resulting…
Controversial crossdresser Idris Okuneye, popularly known as Bobrisky has been reportedly arrested by the country’s anti-graft body EFCC According to the reports, Bobrisky was arrested at Pinnock Estate of Lagos State on Wednesday, April 3, 2024, over what is considered an abuse of the naira at a movie premiere. The details about Bobrisky’s arrest come…
