For the very first time in the history of Nigeria’s economy, the Naira hit a record low of 600 naira per dollar on the black market, increased political spending on…
naira
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+ How US Based Son, Oluwafemi Ajibola Stole Show From Overseas The ancient town of Iperu-Remo in Ogun State came alive again on Friday, January 22, 2021, at the final…
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The National Bureau of Statistics (NBS) on Tuesday said inflation rose by 12.20 per cent year-on-year in February. The inflation rate of 12.2 per cent, according to the bureau is…
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The naira appreciated against the dollar on Friday after days of panic buying amid speculations that the Nigerian central bank may devalue the local currency. The Nigerian currency had lost…
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Inflation in Nigeria rose to a 19-month high in December, as prices continued to rise many months after the country closed its borders with its neighbours. Annual inflation rose to…
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News
Naira Records Worst Performance Against Dollars In 20 Years
by Damilare Salami January 10, 2020Nigeria’s Naira recorded its weakest performance against the United States dollar in two decades, closing the outgone 2019 on an average of N362.60, the worst run since the country returned…
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The naira on Thursday was sold at N359.3 to the dollar at the parallel market in Lagos. The pound sterling and the euro closed at N450 and N396, respectively. At…
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In 1988, I addressed a “Letter to the Editor” concerning the state of the naira currency notes. I was constrained so to do then because of the wretched state of…
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The naira yesterday exchanged for N370 to the dollar at the black market but many buyers were cautious of staking their fund at such rates. It was the local currency’s…
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Business
Nigeria’s Forex Reserve Drops By $2.15 billion In 30 Days
by Damilare Salami October 18, 2018Nigeria’s foreign exchange reserves have declined by $2.15 billion in the last 30 days, as the Central Bank of Nigeria (CBN) position itself in defence of the naira. Since the…