By Babajide Komolafe, Economy Editor & Elizabeth Adegbesan At the backdrop of sustained supply gap in Nigeria’s foreign exchange (forex) market, the local currency, Naira, has hit a new low at the weekend, trading N803.9 to a dollar in the Investors & Exporters (I&E) window which is the official forex market and N822/$ in the […]
• Money Transfer Operators to use I & E Window rate The Central Bank of Nigeria (CBN) has directed International Money Transfer Operators to commence remittances payout in Naira to beneficiaries. It has also directed that the Investors’ and Exporters’ Window foreign exchange rate should be used in determining the rate for such Naira payout. […]
Naira drops further at investors, exporters window The Naira on Tuesday dropped further, exchanges for N763 against the dollar at the Investors and Exporters window. The Naira depreciated by 0.67 per cent when compared with N768.17 for which it exchanged for the dollar at the close of business on Monday. The open indicative rate closed […]
By Babajide Komolafe & Elizabeth Adegbesan The Naira yesterday depreciated by 16 per cent to N770.38 per dollar in the Investors and Exporters (I&E) window following a surge in demand for dollars worsened by acute supply shortage. Data from the FMDQ showed that the indicative exchange rate for the window rose to N770.38 5 per […]
Naira on Monday depreciated against the dollar, exchanging at N463.50 at the Investors and Exporters window. The local currency decreased by 0.11 per cent as against N463 it exchanged for the dollar at the close of business on May 19. The open indicative rate closed at N463.50 to the dollar on Monday. An exchange rate […]
By Geoff Iyatse, Collins Olayinka, Joseph Chibueze and Anthony Otaru (Abuja) • Currency In Circulation To GDP Ratio Falls From 1.63% To 0.49% In Two Months • Scarcity’ll Contract GDP Up To 0.5% In Q2, FG Warned • No Bank Can Meet 50% Of Customers’ Cash Needs — Managers • CBN Must Increase Cash Circulation […]
Both old and new notes are now legal tender – CBN Official By Olugbenga Ige The Spokesman of the Central Bank of Nigeria (CBN), Isa Abdulmumin, has said both the old and new naira notes are now legal tender following the new directive of the Supreme Court. According to Abdulmumin, banks have begun to issue […]
Obasanjo hails Buhari on naira redesign, says it’s good – Presidency By afolabi The presidency says former president Olusegun Obasanjo commended President Muhammadu Buhari over the naira redesign policy. Femi Adesina, the presidential spokesperson, said in a statement that the former president praised Buhari at the council of state meeting held in the state house, […]
Buhari To Address Nigerians At 7AM Today Amid Naira Scarcity Posted by Samson KankanFeatured, Latest News, News Across Nigeria Wednesday, February 15th, 2023 President Muhammadu Buhari will address Nigerians on Thursday by 7am, presidential spokesman, Femi Adesina has said. The President’s nationwide broadcast is coming amid strong reactions and protests to the lingering cash crunch experienced by millions […]
By Williams Anuku Amidst the money crisis rocking the financial system, the Minister of Finance, Budget and National Planning, Zainab Ahmed has expressed shock over the negative rating slammed on nine banks in Nigeria. Recall that the latest Moody’s report on Nigeria downgraded the long-term issuer rating of the Government of Nigeria to Caa1 […]
Why NOUN graduates are not eligible for NYSC
Why we need parliamentary system in Nigeria – Peter Obi
DSS arrests ex-Gov el-Rufai’s political ally, Aisha Galadima, over Facebook post criticizing Gov Sani of Kaduna State
How kidnappers of Abia State University, Uturu, DVC were arrested – OttiI didn’t lose 2023 presidential election – Peter Obi
Tinubu and the Creation of a New Society - By Abiodun Komolafe Posted on: Mar 28th, 2024
Embracing Invincible Defense Technology for Lasting Peace - By Dr. David Leffler Posted on: Feb 21st, 2024
Insecurity: Time to Heed Zulum’s Warning - By Abiodun Komolafe Posted on: Jan 20th, 2024
The Moral Blemish on the Tinubu Presidency - By Tochukwu Ezukanma Posted on: Sep 26th, 2023
The Soldiers Must Remain in the Barracks - By Tochukwu Ezukanma Posted on: Sep 16th, 2023
Obaship in an Era of Palliatives - By Abiodun Komolafe Posted on: Sep 16th, 2023Would Somebody Tell Nigerians That Corrupt Leadership Does Not Exempt Anyone From Its Torments? - By Ugochukwu Ejinkeonye Posted on: Aug 16th, 2023
Thoughts on Revenue Generation - By Abiodun Komolafe Posted on: Aug 8th, 2023
As Darkness Threatens to Engulf Nigeria - By Tochukwu Ezunkanma Posted on: Aug 8th, 2023
Avoiding the Niger Quagmire - By Oseloka H. Obaze Posted on: Aug 7th, 2023© 2024 New Nigerian Politics. All Rights Reserved. Log in - Designed by Gabfire Themes