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Challenging times ahead as IMF predicts Nigeria’s foreign reserves to drop to $24bn in 2024

Nigeria may be heading for a challenging time ahead in 2024 and 2025 if the latest reports by the International Monetary Fund (IMF) is...
Business

Bureau de Change operators deny shutting operations in Abuja

The Association of Bureau De Change Operators of Nigeria (ABCON) has shot down rumors making the rounds that it has ordered the shutting down...
News

Naira Hit N1,300/$

The naira is presently trading above N1,300/$ on the Binance platform.This is because numerous traders have verified that the value of the national currency...
Business

Naira continues yoyo movement, crashes to all-time low of N1, 099.05/$1 in official market

The Naira crossed the N1,000 mark to reach an all-time low of N1,099.05/$1 on Friday, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM)...
Business

Naira continues free-fall, slumps to N881.88/$1 at official window

The free-fall of the naira continued unabated at both the official and parallel markets on Tuesday.The Nigerian currency depreciated by 7.63% to close at...
Business

Naira rebounds at official market, closes at N780/$1

Buoyed by the news of the planned injection of a substantial amount of foreign exchange by Saudi Arabia into Nigeria’s forex market to boost...
Business

Those hoarding Naira will get a shock, Presidency assures

The Presidency has assured that President Bola Tinubu’s administration would remain relentless in working on policies that will strengthen the Naira.Tinubu’s Special Adviser on...
Business

Nigeria at risk of ‘devastating consequences’ if naira fails to stabilise against dollar —NLC

The Nigeria Labour Congress (NLC), on Sunday, alleged that the love for foreign goods by government official is the major reason for the continous...
Business

Naira weakened 40% against dollar since June, World Bank declares

The World Bank has said that the Nigerian currency, Naira has weakened by 40 percent since mid June 2023 devaluation and is one of...
Business

Dollar at black market hits N1000/$, as FX dealers trade at N755 in official market

The naira appreciated in the investors’ and exporters’ window of the official market on Tuesday after the dollar rate settled at N755.08/$1 by end...
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