nigeria naira

Nigerian naira on Friday closed bearish for the third time in a row since the Central Bank of Nigeria, CBN, pegged forex rate for the Bureau De Change operators nationwide. The currency dropped by 1.79 per cent to close at 390 against the United States dollar. It also depreciated against the...

Nigerian naira on Thursday fell further at parallel market for the second consecutive day in a week after gaining over 10 per cent last week. The currency dropped by 3 naira to 383 to the dollar, 10 naira to 410 to Euro at the black market segment. However, it appreciated 1.2 per cent to close...

Governor of Imo State, Rochas Okorocha, has called on the President Muhammadu Buhari-led federal government to consider the release of the self-acclaimed leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu. The governor attributed Nnamdi Kanu’s actions to youthful exuberance, and...

The Ondo State House of Assembly has appointed an Acting Speaker, Mr. Malachi Coker, following the resignation of the Speaker, Jumoke Akindele on Monday in Akure. The News Agency of Nigeria (NAN), reports that the legislators at the plenary session, also appointed Arowele Samuel from Owo l...

The Lagos State Emergency Management Agency on Sunday revealed the identity of the man who today abandoned his vehicle on the Third Mainland Bridge and jumped into the Lagos Lagoon. Spokesman of the Lagos State Emergency Management Agency (LASEMA), Kehinde Adebayo said the man is Orji but did...

Hopes of further appreciation of the naira brightened as the nation’s external reserve rose to $30 billion, the highest in 13 months. Consequently, the external reserve has risen by $4.2 billion since the beginning of the year, and by $6.2 billion since October 19th, 2016 when it commenced its...

Naira on Thursday morning trading recorded 4.67 per cent gain at the parallel market, exchanging at N535 to a pound from 560 previous day. The US dollar and the Euro remained at the parallel market at N455 and N460 respectively. At the Bureau De Change window, the Naira was sold at N399 to a...

The Nigerian National Petroleum Corporation (NNPC) said it hopes to ramp up crude oil production above the country’s budget benchmark of 2.2 million barrels per day (b/d) by the end of the second quarter of 2017 due to the restoration of critical export pipelines and the peace so far achieved in...

Chukwuma Soludo, ex-Central Bank of Nigeria (CBN) governor, and Patrick Utomi, a professor of economics, have called for the immediate release of Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB). According to TheCable, the thought leaders under the aegis of ‘Nzuko Umunna’, a...

An AI hedge fund out of has hijacked the Naira symbol for its cryptocurrency, Numeraire. 29-year-old South African technologist Richard Craib and his unorthodox hedge fund Numeria, on Tuesday released one million units of the new digital currency to 12,000 scientists. Numerai is one of...

The Federal Government's Whistle-blower policy has started yielding fruit as it has so far led to the recovery of US$151 million and 8 billion Naira in looted funds, the Minister of Information and Culture, Alhaji Lai Mohammed, said. In a statement issued in Lagos on Sunday, the Minister said...

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 set to witness another round of decline against the dollar in the days ahead as an increase in dollar flows from Nigerians living abroad coming home for holidays fell short of expectations, traders said. Foreign exchange reserves last Friday also fell 11.7 per cent to $25.72...

The Central Bank of Nigeria (CBN) has discovered about N2 97120.00 counterfeit currency notes in circulation in Kano state between January and November 2016. This was disclosed by the CBN branch controller Kano state, Abubakar Ameena Pindar to Daily Trust Newpaper. Ameena made the comment...

The value of the naira at the parallel market is dipping towards N500 per dollar even as the Central Bank of Nigeria (CBN) warns of an influx of fake Hong Kong dollars (HK$) in the country’s foreign exchange market. The naira had on Tuesday depreciated in value from N473 to the dollar to N480...

The House of Representatives on Thursday defended its decision to buy exotic cars for its 360 members at a period the country’s economy is in recession. It said lawmakers must have a means of mobility while carrying out oversight duties over Ministries, Departments and Agencies of the Federal...

The Nigerian Naira on Monday sustained its gains by 0.08% to close flat at 305 to the dollar at the inter-bank market. The Pound Sterling also appreciated by three points to close at N547, while Euro and the Dollar remained steady at N495 and N455 at the parallel market segment, according to...

Nigerian government has sealed a $15 billion oil and gas investment deal with India. The Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, who is currently on a three-day visit to India, concluded talks on the investments in a bilateral meeting with his Indian counterpart in...

Nigerian banks have started to adjust international spending limits as forex scarcity which currently faces the country continues to bite harder. Daily Naira Debit Card limits for transaction on ATMs with current limits put at $200 is expected to be adjusted to $100 from tomorrow, October 1st...

The National Caretaker Committee of the Peoples Democratic Party (PDP) led by Senator Ahmed Makarfi hs declared that its candidate in the Edo State governorship election, Pastor Osagie Ize-Iyamu was in early lead. ‎The Spokesman of the committee, Prince Dayo Adeyeye in a statement expressed...