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Uproar in Senate over Naira redesign

Uproar in Senate over Naira redesign

There was uproar in the Senate chambers yesterdayovertheplanned redesign of the N1,000, N500 and N200 naira notes by the Central Bank of Nigeria (CBN). The senators who got enraged and engaged in a heated debate…

Naira rebounds to N710/$ at parallel market as dollar demand slumps

Naira rebounds to N710/$ at parallel market as dollar demand slumps

The naira continued its recovery against the dollar at the parallel market yesterday, strengthening to N710/$1 from N820 per dollar on Wednesday, traders said. According to the traders, the naira’s rebound at the parallel market,…

Naira slides to N737/$1 at parallel market

Naira slides to N737/$1 at parallel market

The naira plummeted to a record low against the dollar at the parallel market yesterday, trading at N737/$1 compared to N725 per dollar on Wednesday, traders said. The naira weakened significantly against the greenback two…

Fitch: Naira depreciation may impact Nigerian banks

Fitch: Naira depreciation may impact Nigerian banks

The ongoing depreciation of the naira may negatively impact Nigerian banks, a Senior Director of credit ratings agency, Fitch Ratings, Mahin Dissanayake, was reported by Reuters as saying yesterday. According to the news agency, Dissanayake,…

Naira drops to 630/$1 at parallel market

Naira drops to 630/$1 at parallel market

The naira fell further at the parallel market yesterday, dropping to N630 per dollar compared with the N620$1, it traded last Friday, traders said. Bureaux De Change operators (BDCs) attributed the local currency’s decline to…

Naira falls to N611/$1 at parallel market

Naira falls to N611/$1 at parallel market

The naira dropped by 0.66per cent to N611/$1 yesterday morning from N607/$1 recorded on the previous day, findings by New Telegraph show. Also, data on FMDQ Exchange website shows that naira closed slightly weaker on…

Naira surges to N535/$ at parallel market

Naira surges to N535/$ at parallel market

The naira strengthened significantly against the dollar at the parallel market yesterday, appreciating to N535/$1 from N570/$1 which it has traded at in recent weeks, findings by New Telegraph show. Forex dealers attributed the appreciation…

Import: OPS flays multi-billion naira losses to clearing hitches

Import: OPS flays multi-billion naira losses to clearing hitches

The Lagos Chamber of Commerce and Industry (LCCI), a member of the organised private sector, has lamented that port users and the business community are losing huge revenue running into billions of naira to operational…

Naira drops to N540/$1 at parallel market

Naira drops to N540/$1 at parallel market

The naira continued its decline against the dollar at the parallel market yesterday, closing at N540/$1 compared with N535 per dollar on Wednesday, accordingtodataobtainedfrom abokiFX.com (a website that collates parallel market rates in Lagos). The…

Naira drops to N535/$1 at parallel market

Naira drops to N535/$1 at parallel market

The local currency, naira, weakened further against the dollar at the parallel market yesterday, closing at N535/$1 compared with N532 per dollar on Monday, according to data obtained from abokiFX. com (a website that collates…