President Bola Ahmed Tinubu has ordered the National Hajj Commission of Nigeria (NAHCON) to cut down the 2026 Hajj fares, citing the recent gains of the naira and the need to ease the financial burden on intending pilgrims. Deputy Chief of Staff to the President, Sen. Ibrahim Hadeija, briefed journalists after a meeting between NAHCON…
The Central Bank of Nigeria (CBN) on Wednesday flagged off a sensitisation campaign in Abuja to promote proper handling of the Naira. At the event, officials of the apex bank urged Nigerians to keep banknotes clean, avoid folding or crushing them, and adopt proper storage practices. Dr. Bala Bello, Deputy Governor, Operations, represented by Dr….
The Federal and Kogi Governments are set to build four multi-billion Naira Housing Estates in the state. Mr Taiye Abanika, Commissioner for Housing and Urban Development, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lokoja on Wednesday. Abanika said that the planned mass housing projects by both the federal…
The naira has demonstrated a consistent appreciation against the dollar throughout the week, closing on Friday at ₦1,580.44 in the official foreign exchange market. According to data from the Central Bank of Nigeria’s website, the naira strengthened by ₦4.51 against the dollar on Friday, reflecting a 0.28 per cent increase from Thursday’s closing rate of…
The naira experienced a rise yesterday, climbing to N1,620 per dollar in the parallel market, up from N1,625 per dollar on Monday. However, it faced a decline in the Nigerian Foreign Exchange Market (NFEM), where it fell to N1,598.69 per dollar, compared to N1,597 per dollar the previous day, reflecting a depreciation of N1.69. As…
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)…
