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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 |
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…
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
Mobile subscriptions have dropped by 6.1 million mobile subscriptions in the second quarter of 2023.This is as MTN Nigeria
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 |