CBN crashes dollar to N360

A statement from the Central Bank of Nigeria (CBN) yesterday noted that banks are to sell dollar at N360 for travel allowances, tuition and medical fees. It further said that…

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Poll : Do you think the CBN should devalue the Naira ?

[poll id=”5″]  

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Don’t be fooled by the Naira biggest black Market gain in a year

The rally, sparked by increased sales of foreign-exchange forwards and looser capital controls, is contingent on the central bank continuing to sell down its reserves. And until it devalues or makes…

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Naira appreciates in biggest recovery in months

The Naira on Friday appreciated in what is about biggest recovery for the currency in months.Within the last 48 hours, dollar crashes to N430, it was N520 before — and…

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Naira falls to record low of N500 to Dollar on black market

The Naira dropped to a record low of 500 to the dollar on the black market on Monday, even though Nigeria’s foreign reserves rose to their highest in a year,…

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Analysis: Nigerians, CBN and the Dollars sell Out-sourcing Magic

It is a known fact that the present Central Bank of Nigeria, CBN board as well as its Monetary Policy Committee clearly has a mandate which is to defend the…

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Naira to continue gain on dollar supply to BDCs

The naira is expected to appreciate further this week following the Central Bank of Nigeria’s approval of dollar sale to Bureau De Change operators. The CBN has given approvals to…

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Naira hits new record low of 460 per dollar on black market

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…

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Naira tumbles to 428 after MPC decision

The naira tumbled against the United States dollar to 428 on Wednesday, down from 424 on Tuesday, as persistent dollar shortage continues to weigh on the economy. The major decline…

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Forex scarcity is a ‘major challenge,’- Nestle and Airtel CEOs

The Nigerian units of Bharti Airtel Ltd. and Nestle SA said shortages of foreign exchange in the West African nation are hindering their operations and ability to import equipment. “It…

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