Tags : naira

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FEC Approves 895.84 Billion Naira Supplementary Budget For Covid-19, Military

Ayomide Oyewole 10/06/2021

THE Federal Executive Council, FEC, Wednesday approved the draft 2021 supplementary budget of N895,842,462,917. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this while briefing State House correspondents at the end of the Council meeting presided over by President Muhammadu Buhari at the presidential villa, Abuja. The Minister explained that the […]Read More

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Naira crashes further as CBN injects $1.47bn into FOREX Market.

Ayomide Oyewole 28/04/2021

Naira closed trading significantly weaker to the dollar at the official market on Tuesday. Data from the FMDQ Security Exchange showed the Naira closed at N411.67 to the US dollar. Tuesday’s exchanged rate at the Investors and Exporters window showed Naira lost N1.67 or 0.41 percent in value compared to N410.00, the rate it closed […]Read More

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Naira depreciates as external reserves decline persists to $36.12bn

Ayomide Oyewole 08/02/2021

The naira last week buckled under the weight of increased dollar demand, depreciatiating in both the parallel market and the Investors and Exporters (I&E) window, even as the nation’s external reserves declined further to $36.12 billion last week. Data from the Central Bank of Nigeria (CBN) showed that the external reserves fell to $36.116 billion Wednesday last week from […]Read More

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CBN Bows To Pressure, Devalues Naira Again

Tolani Giwa 07/07/2020

• ‘Timing coincidental, nothing to do with IMF, World Bank’• Economists advocate currency, lifestyle audit• Moghalu, Sanusi, others disagree on exchange rate unification The country’s fiscal state faces tougher times as the Central Bank of Nigeria (CBN) bowed to pressure, last week, and further devalued the local currency. The adjustment of the exchange rate at […]Read More

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FG saves $1.7bn from managed interventions for petrol importation

Ayomide Oyewole 04/07/2019

The Nigerian National Petroleum Corporation (NNPC), yesterday, defended its role in the importation of Premium Motor Spirit, otherwise known as petrol, noting that its intervention has helped to check false claims for subsidy arising from smuggling of the product to neighbouring countries as well as demand for foreign exchange. According to the NNPC, activities of […]Read More

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Naira Remains Stable at Parallel Market.

Ayomide Oyewole 10/05/2019

The Naira on Thursday remained stable at the parallel market in Lagos, exchanging at N359.3 to the dollar. The Pound Sterling and the Euro traded at N472 and N402, respectively. At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro traded at […]Read More

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Naira Down to N359/$ in Parallel Market

Ayomide Oyewole 11/04/2019

The Naira, yesterday, depreciated to N359 per dollar in the parallel market. Naira According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators (ABCON), the parallel market exchange rose to N359 per dollar from N358.7 on Tuesday, translating to 30 kobo depreciation of the Naira. However, the Naira appreciated […]Read More

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Naira Stable At N358/$ In Parallel Market.

Ayomide Oyewole 12/02/2019

The Naira yesterday was stable at N358 per dollar in the parallel. Naira Political hiccups deflate stock market However, the naira depreciated by 41kobo in the Investors and Exporters (I&E) window. Data from FMDQ showed that the indicative exchange rate for the window rose to N361.95 per dollar from N361.54 per dollar last week Friday […]Read More

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Naira gains marginally against dollar at parallel market

Ayomide Oyewole 15/01/2019

The Naira, on Monday, gained 50 kobo against the dollar to close at N360. According to the News Agency of Nigeria, the Pound Sterling and the Euro traded at N462 and N411, respectively. At the Bureau De Change segment, the dollar was sold at N360, while the Pound Sterling and the Euro traded at N462 […]Read More