nigeria naira

The Nigerian Naira plunged further to a new record low on Wednesday, down 1.76 percent against the dollar on the parallel market even as dollar supplies dry up. The local currency fell to 460 to the dollar on the black market, down from 452 at the close of trading on Tuesday. Though the naira...

Nigeria naira hit a new record low of 436 on the black market on Thursday as dollar shortages on the official market persist, funneling importers to the unofficial market, amidst declining currency reserves in Africa’s biggest economy, traders said. Nigeria’s dollar reserves stood at $24.83...

The Central Bank of Nigeria (CBN) has kicked off its campaign against abuse of all denominations of the nation’s currency with a warning that stiff penalties including a fine of N50,000 or six months in imprisonment or both could be imposed on those found guilty of the offence in line with...

Block Moulders in the country have concluded plans to raise the prices of blocks by between 11 per cent and over 30 per cent, following the recent increase in the prices of cement. According to PUNCH, the moulders are expected to call off their five day old strike on Friday with the new price...

A woman has given birth to quadruplets at the ongoing 64 annual convention of the Redeemed Christian Church of God (RCCG) at the Redemption Camp kilometre 46, Lagos – Ibadan Expressway, Ogun State. This is just as the total of 67 children have been born as of Thursday 7:00p.m. The General...

Nigeria's former minister and frontrunner of Bring Back our Girls, Oby Ezekwesili has nodded to the flexibe exchange rate policy of the Central Bank of Nigeria. Ezekwesili, who reacted this afternoon on twitter when the naira traded at N255/Us Dollar at the interbank said: “ The...

The naira weakened further on Friday, trading at 360 to the United States dollar at the parallel market, amid a rise in demand for dollars by fuel importers. It was rumoured in some quarters that the president and Central Bank of Nigeria had secretly devalued the value of the currency. The...

Nigerian Naira 3-month non-deliverable forwards weaken by record 11%; Selling at 324 to a dollar on the black market spot, few days into the announcement of the end to Fuel Subsidy regime in the country by President Muhammadu Buhari led administration. See break down of Naira rates, according...