Afrinvest projects Naira at N1,804 per dollar by 2025 due to FX volatility. CBN faces challenges in meeting foreign exchange demand. EFEMS introduces relative stability amid Naira fluctuation The Nigerian Naira is expected to depreciate to a fair value of N1,804 per dollar in the official market by 2025, according to a recent Afrinvest report … Read more
The naira appreciated by N135 against the dollar, closing at N1,640 in the parallel market on Monday. In the official market, the naira strengthened to N1,539.55 from N1,541.68. The currency gains coincide with the Nigerian government’s announcement of a three-day public holiday for Christmas and New Year. The naira saw a significant appreciation against the … Read more
The naira experienced a significant decline against the dollar in the foreign exchange market following the Central Bank of Nigeria’s (CBN) fifth interest rate hike, raising the rate to 27.25%. According to FMDQ data, the naira traded at N1,658.48 per dollar on Tuesday, down from N1,562.66 on Monday, marking a depreciation of N95.82. Similarly, in … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has refuted claims of selling foreign exchange (FX) to bureau de change (BDC) operators at the rate of N1,001/$1. CBN, in a post on X, said a circular claiming the apex bank announced the sale of $10,000 to BDCs at the rate of $1001/$1 … Read more
Eko Hot Blog reports that the Cardoso-led Central Bank of Nigeria (CBN), has sacked a fresh batch of 40 staff mostly from the Development Finance Department (DFD), in furtherance of its ongoing restructuring. According to Daily Trust report, deputy directors and assistant directors were mostly affected with 22 from the DFD and the remaining 18 … Read more
EKO HOT BLOG reports that the Federal Government through the Central Bank of Nigeria has raised the exchange rate for cargo clearance from N952/$ to N1.356 per dollar. This is coming weeks after the rate was increased from N783/$ to N952/$. EDITOR’S PICKS Trailer Driver Falls Off Lagos-Ibadan Expressway Bridge In Lone Accident Tinubu Deploys 140 … Read more
The Kwara State Police Command has arrested a man, Alade James, for allegedly killing and burying a nine-year-old girl, Faith Samuel. The police disclosed that James buried the girl in Offa, a Local Government Area of Kwara State with the aim of using her for money ritual, EkohotBlog reports. Kwara State Police Public Relations Officer, … Read more