Tag: Naira
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Naira appreciates against dollar at official market
The Naira appreciated at the official market on Tuesday trading at the N1,522.68 to a Dollar. Data from the FMDQ Security Exchange official forex trading platform revealed that the local currency gained N10.95.
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Detty December: It’s the currency devaluation, plain and simple! – By Magnus Onyibe
In a similar vein, the title of this piece—“Detty December: It’s the Currency Devaluation, Plain and Simple!”—is aimed at highlighting a core factor behind the recent surge in economic activities and festivities in Nigeria during December: the significant devaluation of the naira.
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Naira abuse: EFCC confirms invitation of Okoya’s sons for questioning
The Economic and Financial Crimes Commission (EFCC) has invited two children of billionaire businessman, Chief Razaq Okoya, for questioning over alleged naira abuse.
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Naira depreciates to N1,539.39 per Dollar at official market
The Naira recorded a slight loss at the official market on Wednesday, trading at N1,539.39 per dollar.
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BREAKING: CBN gives update on use of old Naira notes
The Central Bank of Nigeria (CBN) has again released an update and clarified on the use of old Naira notes in the country.
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Lamentations as cash scarcity hits Kaduna, Kano, Katsina
With barely two weeks until Christmas and the subsequent new year celebrations, getting cash in Kaduna, Kano and Katsina States has now become an extremely herculean task.
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What we are doing to restore Naira’s true value – CBN Governor
The Central Bank of Nigeria (CBN) has assured that the Naira’s true value will be restored with the introduction of an electronic FX matching system, which has proven effective in other markets.
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Dangote Refineries still embittered over Naira – Crude oil initiative
The Federal Government’s initiative to sell crude priced in naira is losing steam, the vice-president of Dangote Industries Limited, Edwin Devakumar, said in an interview with Reuters on Friday. Recall early last month, Nigeria officially commenced the sales of crude oil and refined petroleum products in naira, with Dangote refinery focusing on local supply. The…
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Naira gains N28.85 against dollar at official market
The Naira on Thursday appreciated at the official market trading at N1,658.67 against the dollar. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira gained N28.85.
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CBN sends strong warning to commercial banks over Naira hawking
The Central Bank of Nigeria (CBN) says it will heavily penalise Deposit Money Banks (DMBs) found supporting the hawking of Naira notes.