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October 2, 2023
By Kazeem Akintunde On May 29, when President Bola Ahmed Tinubu was sworn in as the 16th President of the Federal Republic of Nigeria, the dollar at the black market exchanged at the rate of N758/$1. But at the Investors and Exporters (I&E) window of the foreign exchange market, it was sold at N464/67/$1. Mr.
October 2, 2023
Mr. President was not happy with the dual exchange rate of the dollar as operated by the previous administration.
September 25, 2023
Nigeria’s weak naira has pushed the country’s external debt up by N13.38tn; findings by The PUNCH have shown.
September 18, 2023
TWENTY-Three Nigerian states grew bilateral loans by 64.26 per cent in six months to $462.81m as of the end of June.
August 11, 2023
Businesses operating in Nigeria have envisaged increased losses in the second quarter of the year, following foreign exchange reforms.Already, nin
August 11, 2023
ABUJA, Aug 10 - Nigeria attracted inflows of $1.41 billion into its currency market in June, the central bank said on Thursday, after it scrapped a multiple exchange rate system that used to keep the naira artificially strong. Even as naira plunged to a record low of N925/$1 on the parallel market yesterday as demand |
August 10, 2023
Sells for N925 in Kano, N917 in Abuja, N890 in Lagos Falls 19.8% since Fx unification Official window no longer reflective of the market dynamics We need to work on supply side of fx – CBN By Sunday M. Ogwu (Abuja), Clement A. Oloyede (Kano) & Abiodun Alade (Lagos) The naira plunged to…
August 10, 2023
The naira dropped to a record low of N925/$1 on the parallel market on Wednesday as demand for foreign currency outweighed supply. Mohammed Gazali, a
August 8, 2023
Mobile subscriptions have dropped by 6.1 million mobile subscriptions in the second quarter of 2023.This is as MTN Nigeria
August 3, 2023
Nigeria’s biggest firms are walking a tightrope as a surge in foreign exchange losses has squeezed profit margins for a sector looking to recover from the economic effect of the Russia/ Ukraine war. About two weeks after President Bola Tinubu promised to unify the nation’s multiple exchange rates, the apex bank decided to float the |