President Bola Tinubu has directed the Nigerian National Petroleum Company Limited to sell crude to Dangote Refinery and other upcoming refineries in Naira. The Special Adviser to the President on Information and Publicity, Bayo Onanuga, made this known in a…
EFCC urges embassies not to charge visa, other services in dollar
The Economic and Financial Crimes Commission (EFCC) has asked the government to stop foreign missions in Nigeria from charging visa and other consular services in foreign denominations. It has also advised all embassies to adopt Nigeria’s regulatory regime in fixing…
Naira slides by 4.6% against dollar at official market
The naira on Tuesday depreciated at the official market, trading at N1,416.57 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira…
Naira depreciates to N1,250/$ in parallel market
The Naira, yesterday, depreciated to N1,250 per dollar in the parallel market, from N1,140 per dollar on Thursday. Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,234.49 per dollar. Data from FMDQ showed that the indicative…
Naira appreciates to N1,382/dollar, Presidency cautions speculators
The naira maintained a steady appreciation against the United States dollar on Thursday, gaining N18 to close 1,382/$ at the official market. This came as Presidency warned currency speculators to desist from unpatriotic act against the national currency, saying racketeers…
Naira rebounds to N1,400/$ as speculators offload forex
The naira rebounded against the United States dollar on Wednesday at the official and parallel markets, with the local currency recording a significant gain against the greenback at the black market. This came as the Central Bank of Nigeria announced…
Despite FG’s clampdown: dollar hits N1,900; pound, N2,250
The naira Tuesday slid further at the parallel market in spite of the clampdown the federal government ordered on foreign exchange market speculators. Bureau De Change (BDC) hubs were raided in Abuja, Lagos and Kano and some operators were arrested.…
Naira rebounds as banks offload excess dollars
Ahead of the midnight February 1, 2024 deadline given by the Central Bank of Nigeria to commercial banks to sell all excess foreign exchange holdings, Deposit Money Banks on Thursday made frantic efforts to offload their surplus dollar stocks. It…
Naira drops to N956/$ as dollar supply falls by 46%
The naira fell, on Thursday, to N956/$ on the official Investor and Exporter forex window as dollar supply declined by 46.77 per cent. This is a 13.78 per cent decline from the N840.53/$ the naira closed trading on Wednesday according…
Naira closes N756/$ as trading rises at investor’s window
The naira appreciated by 1.79 per cent against the United States dollar on the Investor & Exporter forex window on Tuesday, closing at N756.61/$. On Monday, local currency slumped to 770.38/$ at the close of trading on the I&E window…