The Naira depreciated against the dollar in official and parallel foreign exchange markets to barely 24 hours to 2025. EDITOR’S PICKS PDP Declares Ethiope East Federal Seat Vacant Following Ibori-Suenu’s Defection to APC Retired Principals Call for Recognition and Better Welfare from Government BREAKING: IGP Egbetokun Orders Major Shake-Up, Deploys New AIG to Lagos FCID … Read more
CPPE forecasts slight inflation moderation in 2025 due to Naira rebound and lower volatility. Rising global oil prices under Trump could ease inflation. High energy costs, insecurity, and global factors may keep inflation elevated. The Centre for the Promotion of Private Enterprise (CPPE) has predicted that Nigeria’s inflation may ease slightly in 2025. In a … Read more
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
Naira slightly gained N3 against the dollar As Nigerians gear up for the 2024 Christmas celebrations Strengthened marginally against the dollar The Naira further strengthened marginally against the dollar at the parallel foreign exchange market on Tuesday, Christmas Eve. A Bureau de Change operator in Wuse Zone 4, Abubakar Alhasan, on Tuesday said that the … 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 declined against the dollar in both the official and parallel foreign exchange markets, closing the week with a downward trend. According to FMDQ data, the naira slightly weakened to N1,541.68 per dollar on Friday, compared to N1,541.38 on Thursday, reflecting a loss of N0.3. EDITOR’S PICKS Sanwo-Olu Donates N75M to Support Legionnaires and … Read more
The Naira recorded gains against the dollar at the official foreign exchange market on Thursday. FMDQ data showed that N1,541.38 appreciated against the dollar on Thursday from N1,544.20 exchanged on Wednesday. This represents a marginal gain of N2.82 against the dollar compared to N1,544.20 traded the previous day. Meanwhile, in the parallel market, it remained … Read more
Riding high on his recent bail victory at the Federal High Court, former Kogi State Governor, Yahaya Adoza Bello is set to begin a new legal battle for bail this morning at the High Court of the Federal Capital Territory (FCT), Abuja. Bello, who faces charges of public trust violations by the Economic and Financial … Read more
The naira strengthened against the dollar on the parallel foreign exchange market on Wednesday. Bello, a Bureau de Change operator at Garki, Abuja, confirmed to EKO HOT BLOG that the naira traded at N1,660 per dollar, improving from N1,675 on Tuesday, marking a gain of N15. EDITOR’S PICKS PDP Declares Ethiope East Federal Seat Vacant … Read more
The Senate has initiated a move to restore Nigeria’s monetary sovereignty by prohibiting the use of foreign currencies for payments and transactions within the country. EKO HOT BLOG reports that this effort aims to ensure that all financial transactions, including salaries, are conducted in naira. The proposed ban would cover not only local workers but … Read more
The Naira gained further against the dollar at the official and parallel foreign exchange markets on Tuesday. FMDQ data showed that the Naira strengthened to N1,544.05 per dollar on Tuesday from N1,545.10, exchanged on Monday. This showed that the Naira recorded a N1.05 gain compared to N1545.10 per dollar traded on the previous day. Similarly, … Read more
The Naira appreciated against the dollar at the official market to kick off the week on a good note despite the rise in Nigeria’s November inflation rate. This is the case as FMDQ data showed that the Naira strengthened to N1545.10 per dollar on Monday from N1549.50. This showed that the Naira gained N4.6 against … Read more
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
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
The exchange rate between the naira and the US dollar fell to approximately N1,745/$1 on the parallel market on Wednesday, marking a sharp decline from the N1,600/$1 levels recorded at the end of last week. On various platforms, peer-to-peer (P2P) exchanges quoted rates as low as N1,715/$, while some International Money Transfer Operators reported rates … Read more
The Naira has regained value against the US dollar in the official foreign exchange market, just 24 hours after experiencing a depreciation. Central Bank of Nigeria (CBN) exchange rate data for Tuesday revealed that the Naira strengthened to N1,525 per dollar, up from N1,538.50 on Monday. This marks a gain of N13.5 compared to the … Read more
The Naira settled at N1538.50 per dollar at the foreign exchange market for the first time after an appreciation streak. The Central Bank of Nigeria’s foreign exchange change data on Monday showed that it stood at N1,538.50 per dollar, slightly down from N,1535 recorded on Friday. This represents an N3.5 depreciation compared to the N1535 … Read more
The Naira appreciated massively at the official and parallel foreign exchange markets on Friday to end the week on a good note. The Central Bank of Nigeria’s exchange market data showed that the Naira appreciated to N1,535 per dollar on Friday from N1,567 per dollar on Thursday. This showed that the Naira gained N32 against … Read more
The Naira appreciated significantly against the dollar at the foreign exchange market as FX supply rose on Thursday. FMDQ data showed that the Naira strenghthened to N1644.86 on Thursday from N1660.83 traded on Wednesday. This represents a N15.97 appreciation against the dollar compared to the N1660.83 exchange rate on Wednesday. Meanwhile, at the black market, … Read more
The Naira appreciated against the dollar at the parallel foreign exchange market (black market). Abubakar Alhassan, a Bureau of De Change operator at Wuse Zone 4, said that the naira strengthened slightly at N1748 per dollar on Wednesday from N1755 exchanged on Tuesday. This means that the naira gained N7 compared to the N1755 traded … Read more