Nigerian Naira Faces Ongoing Parallel Market Premium Amidst FX Challenges
The World Bank's latest report reveals that the premium between the parallel foreign exchange (FX) rate and the official rate ...
Tag: Naira
Naira Faces 40% Depreciation in 2023, According to World Bank Report
The World Bank's latest Africa's Pulse report has revealed that the Nigerian Naira has experienced a nearly 40 percent depreciation ...
Naira Dropped by 1.48 Percent at I&E Window.
The Nigerian Naira witnessed a decline of 1.48 percent on Wednesday, despite a boost in dollar liquidity in the official ...
CBN Governor Vows to Address Forex Obligations and Inflation
The newly appointed Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has outlined his immediate priorities during a ...
Cryptocurrency Usage Surges in Nigeria Amid Economic Challenges
Cryptocurrency adoption in Nigeria is on the rise, driven by a weakening national currency and skyrocketing inflation, according to a ...
Naira Depreciates to N945/$ in the Parallel Market
The exchange rate between the naira and the US dollar traded for an average of N945/$1 on Thursday, September 14, ...
CBN’s Bold $10 Billion Forex Backlog Resolution: A Gambit Worth Watching
The Central Bank of Nigeria (CBN) has set an audacious target - to clear a lingering $10 billion foreign exchange ...
Naira’s Appreciation Continues: Value Breaks Below N850 Mark in Parallel Market.
In an unexpected turn of events, the Nigerian naira has demonstrated a significant appreciation in the parallel market, breaking below ...
Banks Release $533.48 Million for Foreign Education through Central Bank of Nigeria.
In a bid to cater to the increasing demand for foreign education, Nigerian banks have disbursed a total of $533.48 ...
EIU Predicts Naira’s Decline to N1,018 per Dollar Amidst Soaring Inflation.
The Economist Intelligence Unit (EIU) has predicted that the pressure on Nigeria's currency, the naira, is likely to persist in ...
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