naira rate

Nigerian naira on Tuesday gained rapidly against the United States dollar to 516 at the black market, 24 hours after the Central Bank of Nigeria adjusted the country's forex policy. On Monday, it crashed at the parallel market to N520 per United States dollar, even as the Central Bank of...

Central Bank of Nigeria on Monday shocked Nigerians and businesses over sudden change in foreign exchange rules. The naira on Monday slumped to 520 per dollar at the parallel market as pressure keeps mounting on dollar scarcity. Nigerian Bulletin take a look by identifying the three possible...

The Central Bank of Nigeria, CBN on Monday bowed to pressure by releasing a new foreign exchange policy in the country with immediate effect. The new policy is coming after the National Economic Council, NEC, urged for immediate review to stem the widening gap between the inter-bank foreign...

The Central Bank of Nigeria, CBN may have bowed to pressure by releasing a new foreign exchange policy in the country with immediate effect. Although details still skeptical but Premium Times said the new policy is coming after the National Economic Council, NEC, urged for immediate review to...

Nigerian Naira on Monday continued to crash at the parallel market to N520 per United States dollar, even as the Central Bank of Nigerian, CBN fund commercial banks with additional forex to cater for school fees, medical and PTA/BTA fares. The currency depreciated sharply from N518 its opened...

Prophet T.B. Joshua in a new prophecies to his congregation at The Synagogue Church Of All Nations (SCOAN) called for prayer for President Muhammadu Buhari’s health. Prophet Joshua on Sunday said: “I have some burning issues which I want to share with you,” Joshua began before breaking his...

The federal government may soon use its sledge hammer on the Central bank of Nigeria governor, Mr. Godwin Emefiele as Naira dives towards 600 to the dollar at the parallel market. The National Economic Council (NEC) on Thursday expressed concern over the exchange rate and directed the Central...

The naira appears to have entered a free fall mode with the local currency selling for 516 per United States dollar on the streets of Lagos on Thursday. The currency plummeted at the parallel market from 510/dollar on Wednesday to 516/dollar on Thursday. Currency dealers on the streets of...

The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), has issued query to the Central Bank of Nigeria governo, Mr. Godwin Emefiele over corruption allegations in the foreign exchange allocation and transactions. Malami in a letter, titled ‘allegations of...

Nigeria's naira hit a fresh low on the black market on Wednesday at 510 per United States Dollar at the parellel market. The head of its bureau de change association, BDC urged his members to help stabilise the currency, whose continued weakness had become a "major concern" to the central bank...

Nigerian naira on Tuesday tumbled to 507 per US dollar at the parallel market, the worse in the history of the country. The currency is also trading at N530 and 630 to the euro and pound respectively at the black market segment. The naira had open trading at a record high of 500 per dollar in...

Nigerian naira continued on free fall against the three major currencies at the parallel market. The currency on Friday ended weekly trading at N506 to $1 down from N500 recorded on Thursday, February 9, 2017. Against the British Pounds Sterling and the European Euro, the Nigerian Naira...

Nigeria naira on Monday appreciated to 498 from 500 its closed on Friday at the parallel market, amidst increase in the foreign reserve. Nigeria's forex exchange reserves have gained more than $2bn in 2017, rising to $28.2bn on February 2. The currency remained stable against the pound and...

The naira is expected to depreciate further against the United States dollar at the parallel market despite increase in Nigeria's foreign reserve. Nigeria's forex exchange reserves have gained more than $2bn in 2017, rising to $28.2bn on February 2. The local currency had been stable against...

The naira on Friday crashed further to N500 to a dollar at the parallel market after it had remained stable for nearly three weeks, the News Agency of Nigeria (NAN) reports. The Pound Sterling and the Euro also crashed to N616 and N530 respectively at the open market. The Nigerian currency...

The naira bounced back against the United States dollar from 500 to 498 at the parallel market on first day trading February, 2017. The naira has been under persistent pressure as scarcity of the greenback continues to hit the market. The currency still maintained high rate against the pound...

Paul Alaje, an economist with the SPM Professionals, Abuja has written extensively on the naira-dollar crisis currently faced in Nigeria. In the article, "The Naira Is Dead: Lets Redenominate the Currency Before Its Too Late!", he delved into the hidtorical antecedent of the currency and why it...

Nigerian naira on Monday crumbled to 500 per dollar at the parallel market sending significant shock to businesses as analysts predicted a sharp depreciation on the currency. The currency plunged further against the United States dollar to an all time low record of 500 on Monday morning, down...

The United States dollar slumped to seven-week lows on Thursday, pressured by investors’ concerns about U.S. protectionism after President Donald Trump gave the go-ahead to construction of a U.S.-Mexican border wall and prepared to impose some immigration curbs. This is coming as Nigerian naira...

Central Bank of Nigeria governor, Godwin Emefiele has dismissed allegations of multiple foreign exchange rates in the country. The apex bank Governor stated this at this end of the 254th meeting of the Monetary Policy Committee (MPC) on Wednesday in Abuja. This is coming as Naira witnessed its...