A Financial expert, Mr Okechukwu Unegbu, says improved local production of commodities, increased consumption of local products, and reduced importation of goods and services will help to stabilise and strengthen the Naira.
The naira has appreciated for the first time in three weeks after trading at N1113 to the dollar on Friday.
The free fall of the Naira continued yesterday as it fell to N1, 290 to $1 in Abuja and other markets.
Inflation rate is projected to increase by 83 basis points (bps) year-on-year (y/y) to 27.54 in October.
Naira depreciated by 2.3 per cent to N759.20 (as of 12 October) at the Investors’ and Exporters’ (I&E) window, with total turnover at the window (as of 12 October 2023) increasing by 79.1 per cent WTD to $629.37 million, as trades were consummated within the N700 –N846/$ band. Last Friday, naira depreciated by 0.75 per…
.Dollar sustains upward swing as pressure on supply intensifies Nigeria’s currency, the Naira, is still under immense pressure as the Central Bank of Nigeria (CBN) continues to explore new mechanisms to address the forex challenge. The CBN Governor, Oluyemi Cardoso, in a policy document released in Abuja, said the apex bank is currently evaluating how…
The House of Representatives has urged the Central Bank of Nigeria (CBN) to implement monetary policy adjustments to stabilise the currency. The call is sequel to a unanimous adoption of a motion by Rep. Ismaila Dabo (APC-Bauchi state) at plenary on Tuesday in Abuja. Morning the motion, Dabo recalled that in June 2023, President Bola…
Aggregate loans in the books of eight Nigerian banks expanded to N30 trillion in the first half (H1) of the year, expert analysis has said.
The World Bank has listed the Nigerian naira among the worst-performing currencies in Africa.
There are clear indications that more manufacturing companies and businesses in the country may shut down in the coming months due to the unabating energy crisis, which has now pushed diesel prices to over N1,100 per litre.
The Senate has confirmed the appointment of Yemi Cardoso as the Central Bank of Nigeria (CBN) governor and four others as deputy governors of the apex bank.
Nigeria might not achieve a single exchange rate, despite unification of the naira, the Special Adviser on Economic Affairs (Office of the Vice President), Tope Fasua, said in Abuja, yesterday.