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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.
Mr. President was not happy with the dual exchange rate of the dollar as operated by the previous administration.
Nigeria’s weak naira has pushed the country’s external debt up by N13.38tn; findings by The PUNCH have shown.
TWENTY-Three Nigerian states grew bilateral loans by 64.26 per cent in six months to $462.81m as of the end of June.
Businesses operating in Nigeria have envisaged increased losses in the second quarter of the year, following foreign exchange reforms.Already, nin