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Nigerian Naira appreciated 3.3 per cent to 314 to the dollar at the inter-bank market as of 11:39 a.m in Lagos, the commercial nerve centre of the country.
The currency at mid day trading posed the biggest intra-day gain since August 31, 2016, according to data compiled by Bloomberg.
Nigerian naira 3-month non-deliverable forward unchanged at 340.50 to the dollar while yield on US Dollar bond due July 2023 dropped 11bps to 6.2 per cent.
Meanwhile, the National Council of State of Wednesday said that it approved the steps being taken by the Federal Government to revive the economy.
Governor of Lagos state, Akinwunmi said the council was also briefed on the state of the economy.
"The minister of state from the Ministry of Budget and Planning actually made a presentation to council on the ways and manner in which the federal government is approaching the way to rescue the recession path that we are going through".
“Council was confident and also approved the measures the federal government is putting in to ensure that Nigeria goes on the path of recovery as quickly as possible.”
The currency at mid day trading posed the biggest intra-day gain since August 31, 2016, according to data compiled by Bloomberg.
Nigerian naira 3-month non-deliverable forward unchanged at 340.50 to the dollar while yield on US Dollar bond due July 2023 dropped 11bps to 6.2 per cent.
Meanwhile, the National Council of State of Wednesday said that it approved the steps being taken by the Federal Government to revive the economy.
Governor of Lagos state, Akinwunmi said the council was also briefed on the state of the economy.
"The minister of state from the Ministry of Budget and Planning actually made a presentation to council on the ways and manner in which the federal government is approaching the way to rescue the recession path that we are going through".
“Council was confident and also approved the measures the federal government is putting in to ensure that Nigeria goes on the path of recovery as quickly as possible.”