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BREAKING: Naira Falls To N2,000/1£ At Parallel Market

BREAKING: Naira Falls To N2,000/1£ At Parallel Market

Nigerian Naira is currently trading at over 2,000 Naira against the British pound in the parallel market, New Telegraph reports. Malam Ibrahim, a Bureau De Change (BDC) operator in Wuse Zone 4, confirmed the price…

JUST-IN: Senate Summons CBN Gov Over Naira Free Fall

JUST-IN: Senate Summons CBN Gov Over Naira Free Fall

The upper chamber of the National Assembly, on Wednesday, summoned the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before it on Tuesday to explain the state of the national economy…

Naira Continues To Decline Despite CBN’s Efforts

Naira Continues To Decline Despite CBN’s Efforts

Despite all efforts by the Central Bank of Nigeria (CBN) to strengthen the Naira against the Dollar, Nigeria’s Naira continues to face a relentless decline, prompting financial experts to emphasise the need for accelerated productivity…

Naira Weakens Against Dollar Despite Speculation Of Recovery

Naira Weakens Against Dollar Despite Speculation Of Recovery

There was a noticeable drop in the United States (US) dollar against the Nigerian naira in both the parallel and Forex markets on Tuesday, November 7. The naira dropped from its previous day rate of…

Nigeria Raises Bond Yields In Drive To Halt Naira Rout

Nigeria Raises Bond Yields In Drive To Halt Naira Rout

As part of its attempts to absorb surplus liquidity, control inflation, and stop the naira’s decline, the Nigerian government increased the interest rate on local currency securities. This was contained in a statement posted on…

World Bank: Naira Weakened 40% Against Dollar Since June

World Bank: Naira Weakened 40% Against Dollar Since June

The Nigerian Naira has lost 40% of its value since its devaluation in mid-June 2023, making it one of the worst-performing currencies in Africa, according to the World Bank. This was contained in a statement…

Nigerians React As Naira Crashes To N1k Per Dollar

Nigerians React As Naira Crashes To N1k Per Dollar

Nigerians have taken to their social media pages to react as the Naira crashed to N1k per dollar in the Parallel Market, also known as the Black Market on Tuesday. On Tuesday morning, Abokifx, a…

Naira Record Low On Street As Dollar Supply Dries Up

Naira Record Low On Street As Dollar Supply Dries Up

Nigerian Naira slips to a record low on the parallel market as shrinking dollar supply from the Central Bank of Nigeria (CBN) forces buyers to the street for hard currency. The naira was changing hands…

Economy: Naira’ll Bounce Back, Stronger Than Dollar – Adeboye

Economy: Naira’ll Bounce Back, Stronger Than Dollar – Adeboye

Pastor Enoch Adeboye, the General Overseer of Redeemed Christian Church of God (RCCG) in his new month prophetic prayers said the Naira will rebound and surpass the US dollar this time. Pastor Adeboye’s prophetic declaration…

Economist Urges CBN To Make Currency Swap Priority

Economist Urges CBN To Make Currency Swap Priority

An economist, Prof. Akpan Ekpo, has urged the Central Bank of Nigeria (CBN) to take seriously the currency swap agreement with the Peoples Bank of China to reduce reliance on dollars for trade. Mr Ekpo,…