Naira
1 day ago
To halt the fresh panic building over the fate of the naira, the Central Bank of Nigeria (CBN) is set to disburse another tranche of liquidity intervention to 1,583 Bureau de Change operators.
2 days ago
The Economic and Financial Crimes Commission (EFCC) has frozen over 300 accounts over suspicious forex flows. The EFCC chairman, Ola Olukoyede, who stated this on Tuesday said the agency discovered a new financial scheme that poses a significant threat to the stability of the foreign exchange market. According to Olukoyede, the scheme, known as the…
20 Apr
Vice President Kashim Shettima has expressed optimism that the Naira would continue to appreciate against dollar at the forex market.
17 Apr
The president of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said the recovery of the naira against the dollar and other foreign exchange is happening faster than expected. Gwadabe said this during a phone-in interview on Channels Television’s ‘Business Incorporated’ programme on Tuesday. Gwadabe said as of Tuesday afternoon, Bureau…
16 Apr
With expectations that the drop in the dollar-to-naira exchange rate would lead to a reduction in the cost of goods and commodities quickly, traders and consumers have lamented that they are yet to feel the impact on their wares, as the cost of household items keeps skyrocketing.
8 Apr
Though the Naira has gained strength against major currencies in a couple of weeks, the Central Bank of Nigeria (CBN) has spent $1.2 billion to defend the currency.
5 Apr
Naira, yesterday, continued its strong showing, as it was exchanged for N1,263.753 in the parallel market. This comes as the Central Bank of Nigeria (CBN) reaped N652 billion from its Open Market Operation (OMO) bill auction
3 Apr
The naira gained at the official market, trading at N1,278.58 to a dollar on Tuesday. Data from the official trading platform of the FMDQ revealed that the Naira gained N30.81 or 2.35 per cent, compared to the previous trading date on Thursday, March, 28, 2024, just before the Easter holiday, at the rate of N1,309.39…
1 Apr
As the hawkish tone of the Monetary Policy Committee (MPC) continues to worsen risk sentiments in the local bourse, the scramble for government debt instruments is currently pushing yield to unprecedented heights across segments.
26 Mar
With an increased Federation Account Allocation Committee (FAAC) allocation to states since the removal of fuel subsidy, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged that governors channel their allocation towards verifiable, visible and sustainable socio-economic projects.
25 Mar
Some financial experts have commended the Federal Government for some of its monetary policies that have led to the steady appreciation
23 Mar
President Bola Tinubu has tasked Nigerians to intentionally patronise made in Nigeria products and services so as to sustain the unfolding positive showings of the naira at the foreign exchange markets.
Latest
16 mins ago
A fire incident disrupted flights at the Murtala Muhammed International Airport (MMIA), Lagos, on Thursday morning. The Federal Airports Authority of Nigeria (FAAN), in a statement on Thursday, said smoke was detected emanating from the E54 bridge at 05:29 hrs. FAAN's director of public affairs and consumer protection, Obiageli Orah, said the airport engineers immediately…
22 mins ago
The death toll from a migrant boat disaster off Djibouti this week has risen to 24, the UN's migration agency said, highlighting a sharp increase in the number of people returning from Yemen to the Horn of Africa nation this year.
1 hour ago
US far-right conspiracy website Gateway Pundit is filing for bankruptcy, its founder said Wednesday, as it battles a string of lawsuits alleging it promoted misinformation related to the 2020 election.
1 hour ago
Honduras is experiencing a femicide "emergency," a United Nations official warned Wednesday, with at least 66 women murdered so far this year according to activists.
1 hour ago
The widespread use of alcohol and e-cigarettes among adolescents is "alarming", according to a report released on Thursday by the World Health Organization's (WHO) European branch, which recommended measures to limit access.
5 hours ago
Despite the exodus of university teachers and attendant shortage of manpower in public universities nationwide, the non-retention policy of the Federal Government has caused over 5,032 first-class graduates to languish in the job market and far away from the tertiary institutions that erstwhile retained them.
5 hours ago
As the whereabouts of former Kogi State governor, Yahaya Bello, remain unknown a week after he was declared wanted by the Economic and Financial Crimes Commission (EFCC) and placed on a watch-list by the Nigeria Immigration Service (NIS)
5 hours ago
Data sourced from the Central Bank of Nigeria (CBN) suggest the economy may be relapsing to cash hoarding again a year after the chronic currency scarcity even as the proportion of currency in circulation that is held outside the banking system has returned to the pre-naira redesign level.
5 hours ago
As Nigeria joins the rest of the world to mark the 2024 World Malaria Day, the progress in national malaria control is being threatened by the continued rising cost of anti-malaria drugs, which have gone beyond the reach of many Nigerians.
5 hours ago
African Development Bank (AfDB) President, Dr Akinwumi Adesina, said that Africa's immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries' future growth.