Bureaux de Change at risk as Naira gains more muscle

Business seems bad for Bureaux De Change (BDCs) — no thanks to the naira’s new strength that has hit them with heavy losses. The naira has strengthened below N381 to…

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Naira gains 12.36 % in one week

The Naira recorded an appreciation of 12.36 per cent at the parallel market in the last one week, the News Agency of Nigeria (NAN) reports. NAN reports that the Naira…

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Poll : Do you think the CBN should devalue the Naira ?

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Forex: Banks seek buyers as CBN continues to flood market

The new strategy of the Central Bank of Nigeria (CBN) to meet all legal demand for foreign exchange (Forex) has led Money Deposit Banks to contend with expending all the…

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Don’t be fooled by the Naira biggest black Market gain in a year

The rally, sparked by increased sales of foreign-exchange forwards and looser capital controls, is contingent on the central bank continuing to sell down its reserves. And until it devalues or makes…

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Naira appreciates in biggest recovery in months

The Naira on Friday appreciated in what is about biggest recovery for the currency in months.Within the last 48 hours, dollar crashes to N430, it was N520 before — and…

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Naira falls to record low of N500 to Dollar on black market

The Naira dropped to a record low of 500 to the dollar on the black market on Monday, even though Nigeria’s foreign reserves rose to their highest in a year,…

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Nigeria’s Naira on a Free Fail, Now N499 to $1

Nigeria’s naira was quoted as low as 499 to the dollar on the black market on Tuesday, 39 percent weaker than on the official market, where the central bank has…

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We simply can’t allow the naira to float, says Osinbajo

Vice-President Yemi Osinbajo says the government cannot simply allow the naira to float, but admits that the Central Bank of Nigeria (CBN) has confidence in floating the local currency. Speaking…

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Eroding Value of Nigerian Naira- ranked among four worst global currencies in 2016

The naira is one of the world’s four worst performing currencies in 2016, according to a report by Bloomberg LP. The naira was said to have lost 36.68 per cent…

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