…the CBN’s move would not solve the forex crisis in the country or reverse the slide of the naira. Nigerians taunts CBN Governor. Some Nigerians have ridiculed the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, for accusing foreign exchange information platform, AbokiFX of contributing to the slide of naira against dollar at the parallel … Read more
According to the lawmaker, the CBN Governor feels he is bigger than Nigeria. Tajudeen Adefisoye a House of Representatives member, has reacted to the continuous fall of the Nigerian Naira in parallel and official markets. In a tweet shared by the Hous of Reps member, Adefisoye said the recent exchange rate is now scary. He … Read more
Naira has hit a all-time low against the dollar. EKOHOTBLOG reports that the naira on Thursday continued its downward spiral on the parallel market, selling for N543 to the dollar on Thursday. While bureau de change operators in Abuja bought dollar at N540, it was sold for N543. The British Pound was also sold for … Read more
Ejelonu said that they printed fake naira notes amounting to N98 million and fake dollar notes amounting to US$1,487,700. Seven men and one woman who allegedly printed fake N98 million notes and US$1.487,700, have been remanded by Gwagwalada Chief Magistrates’ Court. The accused Musa Mayo, Bala Jatau, Ibrahim Dangana, Luka Daniel, Nnemeka Ude, … Read more
The local currency opened the day at ₦515 to a United States Dollar but at the Bureau De Change segment, the Naira exchanged at ₦513 to a United States Dollar, ₦705 to a British Pound and ₦600 to a single Euro. The Nigerian Naira was largely unchanged against the United States Dollar on Tuesday morning … Read more
The Nigerian Naira slid against global counterparts at the unregulated parallel market, popularly known as the black market on Thursday, Ekohotblog has learnt. Our correspondent gathered that the Naira dipped by ₦5 against the United States Dollar from ₦510 it exchanged on Tuesday to ₦515 on Wednesday before opening at exact same amount on Thursday. … Read more
The CBN also divulged plans to increase the amount of foreign exchange allocated to banks to meet legitimate needs. On Friday, the Bureau De Change disclosed that the naira exchanged to the dollar at N504 at the parallel market. A month earlier, the dollar was at N490 but had recently moved to N500 as … Read more
Naira has crashed to a four-year low in the parallel market. EKO HOT BLOG reports that Nigeria’s currency weakened to a four-year low in the parallel market after the Central Bank’s efforts to coax banks to sell more dollars to customers failed to bridge the widening gap between the official and street rates. Unauthorized dealers were … Read more
The NAFEX window is a market trading segment for investors, exporters and end-users The Central Bank of Nigeria (CBN) has now pegged the exchange between naira and dollar to N410.25/$1. The new rate is sequel to the apex Bank adoption of the Nigerian autonomous foreign exchange (NAFEX) rate — further weakening the naira by 8 … Read more
Naira weakened against the US dollar to close at N411 to a dollar on Thursday representing a 50 kobo decline when compared to N410.5/$1 that was recorded on Wednesday. Meanwhile, Nigeria’s external reserve plunged $28.94 million to close at $34.76 billion on Wednesday. Naira weakened against the US dollar to close at N411 to a … Read more
The Naira suffered a decline against the Dollar on Wednesday, eroding the slight appreciation recorded by the legal tender against the United States currency in recent days. Ekohotblog reports that the naira did not measure up well to the dollar at the Investors and Exporters (I&E) window on Wednesday as trading closed at N394.17k per dollar. According to … Read more
The naira exchanged to the dollar in the parallel market at ₦474/$ on Thursday. Ekohotblog gathered that naira to dollar was exchanged at 473/$1 on Monday. The naira which recorded slight improvement in recent days closed at the Importer & Exporter forex window at ₦394.6/$. Meanwhile, the Central Bank of Nigeria (CBN) retained the official … Read more
Depreciation The Naira lost marginally to the dollar at the parallel market in Lagos on Monday, exchanging at N382 to a dollar, lower than N380 to a dollar traded on Friday. The Pound Sterling and the Euro traded at the parallel market at N622 and N575, respectively, Ekohotblog gathered. Read Also: Akeredolu Fires Ondo State … Read more
Foreign exchange scarcity continues to bite hard at the parallel market, causing the Naira to dropped N5 against the US Dollar to trade at N455/$1 on Friday, May 15, Businesspost reports At the previous session on Thursday, the local currency had traded at N450/$1 at the same market segment. Against the Euro, the local currency … Read more
The Naira for second week consecutively has continued its decline as the currency continues to tank against the dollar. The naira continued its expected crash on Thursday after it exchanged at N450 to dollar at the parallel market. The naira plunge is partly engendered by the build up on dollar demand continued to rise. The … Read more
The naira on Monday traded at N362.57 to the dollar at the parallel market in Lagos. Turnover at the window stood at 293.60 million dollars. The currency was N359 to dollar at the parallel market in Lagos, while it was exchanged at N445 and N397 to the pound sterling and Euro, respectively. At the Bureau … Read more
The naira on Monday traded at N359 to the dollar at the parallel market in Lagos. The pound sterling and the euro exchanged at N462 and N407, respectively. At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the pound sterling and the euro closed at N462 and … Read more