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…
