In a tumultuous week for Nigeria's economy, the national currency, the Naira, experienced unprecedented depreciation, closing at N1,537.96 at the official market on Friday. This marks a significant milestone, as the currency surpassed the N1,500 threshold, showcasing the severity of its recent...
The Nigerian Naira plummeted to an alarming N1,600 against the US dollar on Thursday, casting a harsh spotlight on the ongoing economic challenges during President Bola Tinubu's tenure. Despite efforts by the Central Bank of Nigeria to mitigate the free fall of the Naira, the currency's downward...
The Nigerian naira witnessed a 3.45 percent depreciation on Wednesday, plummeting to N1,500 against the dollar in the parallel market. This marks a decline from the N1,450 recorded just two days prior, leaving currency traders, also known as Bureau De Change operators, with a narrow profit...
During the February Thanksgiving Service at the RCCG Headquarters in Lagos, Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God, addressed the escalating Naira to Dollar exchange rate, acknowledging the struggles faced by many Nigerians.
Emphasizing a divine...
The Nigerian Naira experienced a significant drop, reaching a historic low of N1,320 per dollar—3.03% weaker than the previous day's closing rate of N1,280. This marks the lowest point since October 26, 2023.
Analysts attribute the fall to a surge in demand for dollars. Businesses restocking...
The naira on Monday appreciated further following the Central Bank of Nigeria’s approval of dollar sale to Bureau De Change operators.
The CBN has approved First Bank of Nigeria Limited and Travelex, a global foreign exchange company, to commence sale of dollars to the BDC operators.
The...
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