Naira Strengthens to N1,534/$ Post-Christmas Holiday Parallel Market: Naira Closes at N1,650/$ on Friday FX Turnover Hits N23.95 Trillion in November The Nigerian naira appreciated against the US dollar in the foreign exchange market following the resumption of work after the Christmas holidays. According to FMDQ data, the naira strengthened to N1,534 per dollar on … Read more
The naira appreciated against the dollar in both the official and parallel foreign exchange markets on Thursday. According to data from the Central Bank of Nigeria (CBN), the naira closed at N1,532 per dollar, up from N1,545 on Wednesday. Similarly, data from FMDQ indicated that the naira strengthened to N1,534.35 per dollar on Thursday, compared … Read more
In recent weeks, the Naira has staged an impressive comeback against the United States Dollar, soaring by over N700 from N1,800 to its current N1,020 rate. This remarkable resurgence is attributed to the strategic policies implemented by the Cardoso-led Central Bank of Nigeria, which has effectively bolstered the Naira’s position against the dollar. Editor’s Picks … 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
Prices of cooking gas begin to drop following appreciation of the Nigerian currency. Survey reveals reduction in cooking gas prices from ₦1,500 per kg to about ₦1,100 in various markets. Gas sellers attribute price reduction to Naira gains and availability of forex for imports. EKO HOT BLOG reports that recent findings show that the prices of … Read more
Eko Hot Blog reports that Kwara State Governor and Chairman of Nigeria Governors Forum AbdulRahman AbdulRazaq has expressed support for the 700km Lagos-Calabar Coastal Highway, describing it as a huge project that will have a significant impact on the nation when completed. AbdulRazaq spoke on Friday in Lagos during a visit by governors and the … Read more
Eko Hot Blog reports that the economic achievements of President Bola Tinubu have received praise from the Mayor of Blanco, Texas, United States of America, Mike Arnold, along with NBA team officials. During a reception held in honour of former Nigerian presidential aide and author, Reno Omokri, Arnold expressed his admiration for the Naira’s floating and the … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate, which benchmarks interest rates, from 22.75 percent to 24.75 percent. The CBN Governor, Olayemi Cardoso, disclosed this on Tuesday at the 294th meeting of the Monetary Policy Committee (MPC) press briefing in Abuja. Editor’s Picks Fake News Alert: … Read more