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![Today's Naira Rate [21-04-2024]: Fluctuating Naira Sparks Worries Among Nigerians as Exchange Rate Hits ₦1,200/$](/data/attachments/203/203123-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [21-04-2024]: Fluctuating Naira Sparks Worries Among Nigerians as Exchange Rate Hits ₦1,200/$
The Nigerian currency, the Naira, appears to be facing another depreciation period, as observed by some social media users. Concerns about the stability of the currency are expressed, with one user noting a decrease and another lamenting the continual rise. One user highlights a sense of...- Nigeria News
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![Today's Naira Rate [13-04-2024]: Nigerians Question When Prices of Goods Will Drop as Naira Hits N1,070 to $1](/data/attachments/202/202782-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [13-04-2024]: Nigerians Question When Prices of Goods Will Drop as Naira Hits N1,070 to $1
As the Nigerian Naira reached a staggering N1,070 to $1, many citizens took to social media to express their concerns about the increasing exchange rate and its impact on the cost of living. Despite the significant devaluation of the currency, there has been no noticeable decrease in the prices...- Nigeria News
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- consumer frustration currency exchange naira depreciation nigerian economy price inflation
- Category: Business
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Nigeria Economic Challenges Loom as EIU Forecasts Naira to Plummet Below N2,000 per Dollar by Year-End
In a recent report released by the Economist Intelligence Unit (EIU) in March 2024, the economic future of Nigeria is painted with uncertainties as the country faces five critical risks that could jeopardize peace, economic progress, and overall development in the coming months. The EIU report...- Nigeria News
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![[Video] Nigerian Banks and Binance Under Fire, Accused of Economic Criminality](/data/attachments/201/201186-51cbb0048afe3330f97efb789f4188ea.jpg?hash=UcuwBIr-Mz)
Nigeria [Video] Nigerian Banks and Binance Under Fire, Accused of Economic Criminality
Ayo Oyalowo, on Channels TV, asserted that the government should oust "criminals" managing certain banks to address the Naira's decline. He emphasized restructuring banks before targeting Bureau de Change operators (BDCs), implying that banks, allegedly hoarding dollars, contribute to the...- Nigeria News
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- Category: Business
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Nigeria Naira Weakens with Dollar at N1,700, Pound Sterling at N2,100 in Lagos
The Nigerian Naira plummeted to unprecedented depths on Monday, hitting N1,700 against the US Dollar and N2,100 against the Pound Sterling. These alarming figures mark a historic low for Nigeria's currency, painting a bleak picture of the nation's economic stability, particularly under the...- Nigeria News
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- currency crisis naira depreciation nigeria economy president tinubu
- Category: Business
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Nigeria Rate for Cargo Clearance in Nigeria Now N1515 to $1 - CBN
The Central Bank of Nigeria (CBN) has announced an adjustment in the exchange rate for the clearance of goods, increasing it from N1444.56/$ to N1515.09 against the USD. This marks a noteworthy rise of N70.53 compared to the previous rate, reflecting the CBN's continued efforts to align official...- Nigeria News
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- cbn central bank of nigeria economic reforms exchange rate goods clearance importers naira depreciation rate for good clearance
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Nigeria Naira Plummets to Record Low of N1,534/$1 Despite CBN Intervention Efforts
In a dramatic turn of events, the official exchange rate between the naira and the dollar plummeted to an unprecedented low of N1,534 on the NAFEM market, marking the weakest point in the currency's history. The day's forex turnover, a mere $89 million, revealed a sharp 64.69% drop in comparison...- Nigeria News
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Nigeria Nigeria's $40 Billion Drain: CBN Governor Links Naira Woes to Surge in Foreign Education and Healthcare Expenses
Nigeria's economic landscape faces a significant challenge as Central Bank of Nigeria (CBN) Governor Oluyemi Cardoso revealed that Nigerians spent over $40 billion on foreign education and healthcare services between 2010 and 2020. The revelation came during a session with the House of...- Nigeria News
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- Category: Politics
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Nigeria Nigerians Doubt Wale Edun's Claim of an Improving Economy At Lawmakers Meeting
In a candid and interactive session before the House of Representatives, Wale Edun, Nigeria's Finance Minister and Coordinator for the Economy, delivered a robust statement asserting that the country's economy is now in a significantly improved state compared to its condition when President Bola...- Nigeria News
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- Category: Politics
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Nigeria Nigerians React With Disbelief to CBN Denial of $30 Billion Domiciliary Account Conversion Policy
CBN denies conversion of $30B domiciliary deposits, but skepticism reigns among Nigerians due to government's credibility issues. Doubts persist despite official statements, reflecting widespread distrust in governmental communications- Nigeria News
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- cbn domiciliary accounts naira depreciation yemi cardoso
- Category: Politics
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Nigeria Domiciliary Account Holders in Shock As Nigeria Mulls $30 Billion Domiciliary Deposit Conversion to Naira for Economic Stability
In response to the recent historic plunge of the national currency, the Nigerian government is reportedly considering a bold policy shift. Strong indications suggest that the Federal Government is contemplating the conversion of foreign currencies in domiciliary accounts, both individual and...- Nigeria News
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- cbn naira depreciation president tinubu yemi cardoso
- Category: Politics
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Nigeria Manufacturers Sound Alarm on Impending Price Escalations Amid Naira Depreciation
Manufacturers in Nigeria are bracing for a potential surge in commodity prices as the nation's currency, the naira, continues its downward spiral against the United States dollar. Since the removal of the rate cap by the Central Bank of Nigeria in June 2023, the naira has witnessed a significant...- Nigeria News
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Nigeria Central Bank's $500 Million Boost Fails to Halt Naira's Dive, Reaches Record Low of N1,348.63/$1
Naira plummeted to a record low of N1,348.63 against the US Dollar on Monday, signaling a 33.87% decline from the previous Friday's closing rate of N891.90. This unprecedented depreciation, witnessed at the official NAFEM market, reflects the severity of the current economic challenges facing...- Nigeria News
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Nigeria Nigeria's Currency Crisis: US Dollar Hits N1,355, Raising Concerns for Businesses and Citizens
Amidst economic uncertainties, the Nigerian currency faces a significant setback with the US dollar soaring to N1,355 at the black market. Despite recent efforts to stabilize the exchange rate, including a $2.25 billion support from AfreximBank, the naira's value continues to decline. In...- Nigeria News
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Nigeria Naira Drops to N1,230/$ in Parallel Market, Inches Up to N872.59/$ Officially
The Nigerian Naira faced contrasting fates in currency markets. The parallel market recorded a depreciation, with the naira sliding to N1,230 per dollar, a slight dip from N1,225 per dollar the previous week. On the other hand, in the official Nigerian Foreign Exchange Market (NAFEM), the naira...- Nigeria News
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- Category: Business
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