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After recording huge losses in naira and foreign currencies, currency speculators seem to have been chased out of the country’s foreign exchange (forex) market, The Nation has learnt. Confirming the development, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said  with rate convergence at both the bureau de change (BDC) and parallel markets, […]

  • CBN

LAGOS, Sept 19 (Reuters) – Nigeria plans to auction 135 billion naira ($442 million) in bonds next week, the Debt Management Office said on Tuesday. The debt office plans to sell 35 billion naira of bonds due in 2021 and 50 billion naira each of bonds due in 2027 and in 2037, using a Dutch […]

  • dollar to naira

The Partnership Initiatives for Niger Delta (PIND) recently sent Dr. Ogho Okiti and Mr. Al-Habib Onifade out into the field to find out the impact of the naira’s devaluation on different parts of four key agricultural value chains (palm oil, cassava, aquaculture and poultry) in the Niger Delta. The question of whether to devalue the […]

Oyetunji Abioye The naira has weakened further to 369 per United States dollar on the back of waning supply of the greenback in the foreign exchange market. Although the external reserves have reportedly hit $33bn, the Central Bank of Nigeria appears to be reducing its intervention, both in frequency and amount, in the foreign exchange […]

The naira on Monday dropped further to 370 per United States dollar in the parallel foreign exchange market. This indicates that Nigerian currency depreciated against the dollar by N2 over the weekend. The naira had exchanged at 368 to the dollar last Friday Meanwhile, Central Bank of Nigeria (CBN) has threatened to sanction any Deposit […]

Dollar to Naira Rate Black Market September 19 2017. Today’s Naira Black Market Exchange Rates. Dollar to Naira. Pounds to Naira. Euros to Naira. These are the prevalent rates for Lagos. Actual rates may vary slightly based on vendor. Rates are updated during the day as they change. NAIRA (N) USD ($) EURO (€) GBP […]

Oil prices moved close to $56 on Monday, remaining near multi-month highs reached late last week. The number of US rigs drilling for new production fell and refineries continued to start up after getting knocked out by Hurricane Harvey. US West Texas Intermediate (WTI) crude futures were at 50.0 per barrel at 0547 GMT, and […]

Air Peace’s expansion drive has received a big boost with its admission as a member of the International Air Transport Association (IATA). Air Peace Communication Manager, Mr Chris Iwarah, confirmed the development in a statement he issued on Sunday in Lagos to newsmen. He said that the airline achieved the feat only a few months […]

  • CBN

Central Bank of Nigeria (CBN) has revealed how it arrested the free fall of the naira when it appeared that all was lost early in 2017 with the currency dropping to as low as 500 units to the United States dollar in February. Director, Monetary Policy Department of the bank, Mr Moses Tule, said at […]

Oyetunji Abioye Weakening exchange rate, rising non-performing loans in the banking industry and other key economic issues are expected to top the agenda as the Monetary Policy Committee of the Central Bank of Nigeria begins its two-day meeting today (Monday). According to economic and financial experts, the meeting will see the 11-member MPC deliberate on […]