Textile manufacturers in the Nation have urged the Federal Government to start selling them gas in Nigeria Naira and not in Dollars. According to them, the payment of the gas tariff in the United States dollar is counter-productive to local manufacturers, a development that has made the commodity unaffordable to many businesses. Speaking under the aegis of the Nigerian […]
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The naira closed at 312 against the dollar on Tuesday in a single interbank market trade of $100,000, Thomson Reuters data showed. The local currency was offered at 313 to the dollar and a total of $3.11m had been traded by 1230 GMT. The local currency closed at 312.50 against the dollar, the FMDQITC website […]
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The Central Bank of Nigeria has ordered agent banks to approved international money transfer operators to sell foreign currency accruing from inward money remittances to licenced Bureau De Change operators. The directive is in a circular with reference number, “TED/FEM/ FPC/GEN/01/004, dated July 22, 2016 and posted on its Website”. The circular by the Acting Director, […]
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The Nigeria Naira weakened against the USD from 294.37 at the interbank market on Wednesday to 310.43 on Thursday, crossing the 300 mark for the first time at the interbank market after the Central Bank of Nigeria floated the naira. The naira fell by 5.4 per cent against the greenback to 309 at 1224 GMT […]
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There was confusion in the market yesterday as the Naira slumped to a new low in both the official and parallel markets, exchanging at N292.90 and N373 to the Dollar respectively. In a report by The Nation, local currency however closed at 292.90 to the dollar on the interbank rate after just one transaction was […]
Read More The naira firmed at the parallel market on Friday, while stocks posted their biggest weekly rally in 14 months as domestic funds snapped up shares following the Central Bank of Nigeria’s currency reforms designed to attract foreign investors, traders said. The CBN according to Punchng, has said it will let the market set the exchange […]
Read More The continuing pressure on the Nigeria naira rose sharply on Wednesday with the local currency tumbling to a new low of 371 against the United States dollar at the parallel market. It had closed at 361 per dollar on Tuesday. The delay by the Central Bank of Nigeria in explaining how the proposed flexible exchange […]
Read More The Nigeria Naira is expected to trade around 350 per dollar in the coming days as uncertainty over the implementation of the Central Bank of Nigeria’s planned new flexible exchange rate policy persists. The local currency retreated to 350 to the dollar on the parallel market on Thursday from 360 a dollar last week, Punchng report. […]
Read More The Nigeria Naira weakened further on Friday, trading at 360 to the United States dollar at the parallel market, amid a rise in demand for dollars by fuel importers. According to Punchng, The local currency stood at 341 at the unofficial market on Thursday, a day after the Federal Government announced the removal of fuel […]
Read More The Nigeria naira is expected not to rise or fall significantly at the parallel and official foreign exchange market as the economy slows and demand for foreign exchange eases after President Muhammadu Buhari’s delayed signing of the 2016 budget. According to Punchng, The local currency was trading around 322 against the dollar at the parallel […]
Read More PZ Cussons Plc says it is paying as much as 70 per cent more than the official rate for dollars as the Central Bank of Nigeria trading restrictions reduce availability of foreign currency in Africa’s biggest economy. “Whilst the official naira exchange rate continues to be stable, a lack of availability at that rate is […]
Read More [su_dropcap]T[/su_dropcap]he Nigeria naira is expected to weaken more on the parallel market but flat on the official interbank market next week as businesses await the signing of the 2016 budget by President Mohammadu Buhari. The local currency closed at 320 against the dollar on the parallel market on Thursday, while it traded at 197 to […]
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