The naira weakened against the dollar on Friday in the foreign exchange market, ending the week on a downward trend. According to data from the Central Bank of Nigeria’s FX rate, the naira depreciated to N1,540.00 per dollar on Friday, compared to N1,532.00 on Thursday, reflecting a slight decline of N8 at the official market. … Read more
Eko Hot Blog reports that the Securities and Exchange Commission (SEC) has announced plans to delist naira from all peer-to-peer (P2P) platforms. This was disclosed by Emomotimi Agama, SEC director general (DG), during a virtual meeting with stakeholders in the blockchain industry on Monday. Details Later… Click To Watch Our Video Of The Week
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
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 Nigeria’s official currency, the Naira, on Monday, appreciated to N1,250 per dollar at the parallel section of the foreign exchange (FX) market. The FX rate is a 0.43 percent increase from the N1,280 recorded on March 29. Editor’s Picks JUST IN: Army Reacts As Explosion Rocks Ikeja Cantonment Police Confirm Delta … Read more
Eko Hot Blog reports that the Managing Director of Financial Derivatives Company Limited, Bismark Rewane, has predicted that the pump price of diesel would drop significantly in May with the commencement of diesel production at Dangote Refinery. The renowned economist made this projection while appearing on Channels TV’s news bulletin. Editor’s Picks Lagos Govt Announces … 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
Eko Hot Blog reports that the leadership of Nigeria Labour Congress, NLC, has declared a two-day nationwide mass protest for February 27 and 28 to press home It’s demand for better welfare package in the light of recent hike in prices of goods and servics. This news medium gathered that the NLC President Joe Ajaero, … Read more