The naira yesterday depreciated to N1, 610 per dollar in the parallel market from N1,605 per dollar on Tuesday. Similarly, the Naira depreciated to N1,612 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN showed that the exchange rate for the naira rose to N1,612 per…
CFG Africa has introduced the GFG AM Naira Fixed Income Fund as a response to the growing need for stable and reliable investment opportunities in the nation’s dynamic economic landscape. The launch event, which took place in Lagos on Wednesday, gathered key stakeholders, investors, and the CFG Africa leadership team. The CFG AM Naira Fixed…
Justice Inyang Edem Ekwo of the Federal High Court sitting in Abuja, has struck out a N1 billion suit filed against former President Muhammadu Buhari and former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, over the hardships that trailed the 2023 Naira redesign policy. The judge dismissed the suit filed by an…
A financial expert, Mr Moses Igbrude, has urged the Federal Government to entrench the naira for crude oil policy to ensure its affordability and also help to moderate the inflation rate. Igbrude, National Coordinator, Independent Shareholders Association of Nigeria (ISAN), made this interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. He…
The Federal Government said the introduction of the sale of crude oil in Naira was a strategic move to enhance operational efficiency of local refineries by reducing foreign exchange risks and transaction costs. President Bola Tinubu made this known on Tuesday, while officially declaring the eight edition of the Nigeria International Energy Summit (NIES 2025)…
The Naira appreciated further at the official market on Monday, trading at N1,497.11 against the Dollar. Data from the Central Bank of Nigeria (CBN) website showed that the Naira gained N3.62. This marks a 0.24 per cent increase compared to Friday, Feb. 21, when the local currency closed at N1,500.73 to the Dollar. The Naira…
The Naira on Wednesday depreciated at the official market, trading at N1,687.52 against the dollar. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira lost N8.59. This represents a 0.51 per cent loss when compared to the previous trading date on Tuesday when it exchanged at N1,678.93 to a dollar….
Bank of America predicts the undervaluation of Nigeria’s naira following recent foreign exchange reforms. Read about the potential impact on the nation’s economy and the strategies needed to strengthen the currency and oil sector. The Bank of America (BoA) has made a significant observation regarding the value of the naira, predicting that it will settle…
