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Nigerian currency, the Naira fell significantly against the U.S. dollar at the official market on Wednesday as it exchanged hands with the greenback at N415.10 per $1, the lowest rate ever recorded at that market segment, implying a N0.80 or 0.20% devaluation from N414.30 per $1 rate it exchanged on Tuesday. So, at the black […]
Continue ReadingNigeria’s Naira pared some of its recent gains against the dollar at the parallel market on Wednesday amid the lingering scarcity of the greenback in the country. Nigerian currency, the Naira fell to 515 against the dollar at the parallel market from 510 on Tuesday. The naira had strengthened to 506/$ on August 4 after […]
Continue Reading“One hundred thousand naira is now behaving like ten thousand naira; and no one is saying anything about it!” -Anonymous Social Media Blogger Exchange rate is very important particularly for a country like Nigeria, whose currency is not convertible. According to Investopedia, a convertible currency, is any nation’s legal tender that can be easily bought […]
Continue ReadingNigeria’s currency, the Naira on Wednesday fell to N493 per dollar at the parallel market, shading N6 from the N487/$ it exchanged on Tuesday, May 25, 2021. When compared to the N486/$1 that was recorded on Monday, the local unit had dropped N1 The pressure on Nigeria’s currency is attributed to black market speculators who […]
Continue ReadingPublisher of news website Daily Nigeria, Jafar Jafar, today had a meeting with Kano State House of Assembly Committee investigating the bribery allegation against Governor Abdullahi Ganduje. A few weeks ago, the journalist published a video clip showing Kano Governor Ganduje allegedly receiving a bribe from contractors, a claim the governor has denied.
Continue ReadingNigerian currency, the Naira, Friday, traded strong after the Central Bank of Nigeria (CBN), Thursday, August 23 and Friday, August 24, 2018, injected a total sum of $543.22 million and CNY 63.21 million into the inter-bank foreign exchange market. Naira gained N0.25k against the U.S dollar as it closed at N362.35k per dollar compared to […]
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