Adebayo Olawale Edun, Nigeria's Finance Minister, has cited the delayed $6.8 billion forward payments in the foreign exchange market as the cause of the naira's decline. He emphasized that resolving…
On Wednesday, the Naira reached an unprecedented low of N980 per US dollar due to a surging demand for dollars in the parallel market, commonly referred to as the black…
"On Wednesday, the Nigerian Naira experienced a further decline against the US dollar, closing at 950/$ in the parallel market. Bureau de Change operators reported that the Naira, which had…
Nigeria's foreign reserves experienced a decline of $915 million following the official floating of the naira and the liberalization of the foreign exchange market by the Central Bank of Nigeria.…
Oil marketers are maintaining their stance on a potential rise in the pump price of Premium Motor Spirit (petrol), due to a further depreciation in the naira's value against the…
"On Wednesday, the Nigerian naira experienced a further decline, reaching a historic low of N915 per dollar on the parallel market, causing the divergence between official and unofficial exchange rates…
Naira on Wednesday appreciated against the dollar across foreign exchange (FX) market as demand for the greenback moderated. In some FX trading areas across the country on Wednesday, naira steadied…
In light of the ongoing shortage of foreign exchange (forex) in Nigeria, the domestic currency, the Naira, has reached a new record low over the weekend. It traded at N803.9…
The Nigerian Naira witnessed a decline on Tuesday, reaching its lowest point in nine months at N800 per dollar. This depreciation can be attributed to a surge in demand for…
Following the Central Bank of Nigeria's decision to allow International Oil Companies (IOCs) to resume dollar sales to banks, these companies will now receive more Naira for their dollar earnings.…
The parallel market witnessed a 0.38 percent depreciation of the Naira against the dollar as the foreign exchange market opened on Wednesday. During Wednesday morning trading, the dollar maintained a…