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CBN lacks liquidity to save naira, offset debts, may resort to foreign loans —Economic Intelligence Unit

Leading global business intelligence and market insight provider, Economist Intelligence Unit, has said that the Central Bank of Nigeria does not have the liquidity...
Business

See latest naira to US dollar exchange rate at official, unofficial FX markets

The value of the Nigerian currency, the Naira, depreciated once again against the United States dollarNew data shows that the Naira weakened across all...
Business

NAIRA WOES: Moghalu advises CBN to go after bank CEOs, not crypto traders

Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria (CBN), has counseled the Federal Government and the CBN to go after...
Business

How black market and official markets converge after Binance exit

The Exchange rates between the naira and the dollar in the official and black markets have finally convergedThe naira has been trading at an...
Business

How the naira gained after two days of losses in the official market

The Nigerian currency, naira, has made a slight recovery against the US dollar on March 7, 2024The naira traded at N1,602.17 per dollar as...
Business

See Dangote, BUA, Lafarge, UNICEM's new prices for a bag of cement

Dangote Cement, BUA Cement, Lafarge Africa, and other cement manufacturers recently reached an agreement with the federal governmentDespite the agreement to reduce prices by...
Business

How appreciated in market and fell in the black marker after CBN action

The naira rallied against the dollar in the official foreign exchange market on Friday, March 1, 2024The Nigerian currency, however, lost about N100 and...
Business

CBN shuts down operations of 4,173 BDC operators in Nigeria, see details

The CBN has taken action by revoking the operational licenses of 4,173 Bureau De Change Operators in NigeriaIt stated that the affected BDCs failed...
Business

Amid scathing backlash, Binance disables naira feature on P2P feature for Nigerians

Following scathing backlash from the Nigerian government, Binance, a crypt exchange with over 170 million users worldwide has disabled its peer-to-peer (P2P) feature for...
Business

Naira strengthened by 7.62% to N2100 per GBP in parallel market

This surge marked a notable increase of 7.62%, with the currency strengthening by N160.00 compared to the previous day’s closing rate of N2,260.This surge...
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