The Nigerian Naira experienced a significant appreciation in the parallel market on Monday, as it strengthened to N1,150 per US dollar, marking a remarkable 6.5% increase from its previous rate of N1,230 last Friday. This improvement signals a positive shift in Nigeria's foreign exchange...
In a significant and alarming development, the Naira, Nigeria's national currency, suffered a dramatic drop to its lowest rate ever against the United States dollar in the official market. According to market data released on the FMDQ website, the local currency concluded its trading session at...
The exchange rate between the Nigerian naira and the US dollar has plunged to N1040 in the parallel market due to persistently high demand outstripping supply. Forex traders have reported quotes ranging from N1035 to N1045 per dollar, underscoring the heightened scarcity in the unofficial...
The foreign exchange crisis in Nigeria has deepened as the Nigerian naira surpassed the grim milestone of N1,000 to the US dollar in the parallel market, according to Daily Trust. A survey of popular black markets in Lagos showed that the dollar traded between N1,000 and N1,050 during the early...
Prof. Charles Soludo, former Governor of the Central Bank of Nigeria, has described the official exchange rate of N306 to the dollar as redundant.
According to PUNCH, Soludo made the remark when delivering a keynote address at the eight annual Pan-Africa Investor Conference organised by...
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The President, Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, says the association is ready to partner the Central Bank of Nigeria to sensitise its members on the newly-introduced flexible foreign exchange policy.
The President, Association of Bureau De Change...
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