The naira appreciated against the dollar at the foreign exchange market amid the Central Bank of Nigeria’s interest rate hike. FMDQ data showed that the naira strengthened to N1659.44 on Tuesday from N1675.62 on Monday. This represents a N16.11 appreciation against the dollar compared to the N1675.62 exchange rate on Monday. Similarly, at the black … Read more
The Naira on Monday depreciated at the official market trading at N1,675.62 against the dollar. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira lost N23. This represents a 1.39 per cent loss when compared to the previous trading date on Friday, Nov. 22 when it exchanged at N1,652.62 to … Read more
The Naira on Thursday appreciated at the official market trading at N1,658.67 against the dollar. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira gained N28.85 . This represents a 1.7 per cent gain, compared to the previous trading date on Wednesday when it exchanged at N1,687.52 to a dollar. … Read more
The Naira appreciated on Tuesday at the official market, trading at N1,678.93 against the dollar and recovering from a three-day trading loss. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira gained N11.44. This represents a 0.67 per cent gain when compared to the previous trading date on Monday when … Read more
The Naira on Monday depreciated at the official market trading at N1,690.37 against the dollar. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira lost N38.12. This represents a 2.3 per cent loss when compared to the previous trading date on Friday, November 15th when it exchanged at N1,652.25 a … Read more
The Naira on Friday slightly further depreciated at the official market trading at N1,652.25 against the dollar. Data from the official trading platform of the FMDQ Exchange revealed that the Naira lost N2.05. This represents a 0.12 per cent loss compared to the previous trading date, Thursday, when it exchanged at N1,650.20 to a dollar. … Read more
The Naira on Wednesday bounced back after consistent three days losses and appreciated at the official market trading at N1,645.40 against the dollar. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira gained N44.48. This represents a 2.63 per cent gain when compared to the previous trading date on Tuesday … Read more
The Naira on Friday appreciated at the official market, trading at N1,666.72 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that Naira gained N8.77. This represents a 0.52 per cent gain when compared to the previous trading on … Read more
The naira depreciated to N1675.49 and N1750 against the dollar at the official and parallel foreign exchange markets on Thursday. This comes as FMDQ data showed that the weakened further to N1675.49 per dollar on Thursday from N1631.17 exchanged on Wednesday. This means that it lost N44.32 against the dollar on Thursday compared to the … Read more
The Naira on Wednesday slightly depreciated at the official market, trading at N1,631.17 to the dollar. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira declined against the dollar by 72 kobo. This represents 0.04 per cent loss when compared to the previous trading date on Tuesday, when it was … Read more
The Naira on Tuesday appreciated at the official market, trading at N1,630.45 to the dollar. Data from the official trading platform of the FMDQ showed that this represents a 2.40 per cent gain when compared to the previous trading date on Monday, when it exchanged at N1,670.65 to a dollar. Also, the total daily turnover … Read more
President Bola Ahmed Tinubu convened with the implementation committee for crude oil and refined products sales in local currency to evaluate the progress of using the naira for crude sales to local refineries. The committee, led by Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, held a strategic review meeting at … Read more
The Naira on Monday depreciated at the official market, trading at N1670.65 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N70.65. This represents a 4.41 per cent loss when compared to the previous trading … Read more
The federal government, led by President Bola Tinubu, has revealed plans to significantly reduce the use of the U.S. dollar, in the Nigerian economy , focusing on strengthening the local currency, Naira. According to Wale Edun, Minister of Finance and Coordinating Minister of the Economy, the administration aims to de-dollarise the economy as part of … Read more
The Naira on Tuesday went down again at the official market, trading at N1,658.97 to the dollar. Data from the official trading platform of the FMDQ Exchange, revealed that the Naira lost N106.05. This represents a 6.82 per cent loss when compared to the previous trading date on Monday when it exchanged at N1,552.92 to … Read more
In a landmark move, Nigeria has officially commenced the sale of crude oil and refined petroleum products in Naira. EKO HOT BLOG reports that the announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who confirmed that the policy took effect on October 1, 2024, following a directive … Read more
The Nigerian National Petroleum Company Limited (NNPC) has yet to begin the planned supply of crude oil in naira to the Dangote Petroleum Refinery, which was scheduled to start on October 1, 2024, as of Thursday, October 3. EDITOR’S PICKS Health, Planning Ministries Partner with AfDB on Sustainable System Project Shamim Ahmed: Student Ally of … Read more
The federal government is proposing that the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Port Authority (NPA) shift to collecting charges, fees, fines, and other payments in Naira instead of foreign currencies. This announcement was made by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, during a briefing … Read more
The Federal Executive Council (FEC) has proposed amendments to the National Identity Management Commission (NIMC) Act of 2007, seeking to include foreigners living and working in Nigeria in the National Identification Number (NIN) registration system. The proposed Economy Stabilization Bill would enable the taxation of expatriates and immigrants with taxable income in Nigeria, mandating the … Read more
The Federal Executive Council (FEC) has given its approval for the Economic Stabilization Bills (ESB), marking a significant step in the government’s Accelerated Stability and Advancement Plan. This decision was reached during the council’s 18th meeting, chaired by President Bola Tinubu at the Aso Chambers of the State House in Abuja. The ESB, based on … Read more