Naira records three consecutive depreciations against US dollar
The Naira on Wednesday recorded its third straight loss against the United States dollar at the official foreign exchange market, even though Nigeria’s external reserves have risen to $41 billion. Data from the Central Bank of Nigeria showed that the Naira closed at ₦1,536.73 per dollar, weaker than the ₦1,534.93 rate recorded on Tuesday. This […]
Naira continues depreciation against dollar at official market
Nigeria’s local currency, the naira, continued to lose strength against the United States dollar and other major currencies at the official foreign exchange market on Tuesday. According to the Central Bank of Nigeria (CBN), the naira could not recover, sliding further to ₦1,534.93 per dollar compared to ₦1,533.67 on Monday. This means the naira dropped […]
Nigerians now have more confidence in naira—CBN Governor Cardoso
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that for the first time in a long while, Nigerians are beginning to trust the naira again. He shared this update while answering questions at the end of the 301st Monetary Policy Committee (MPC) meeting held on Tuesday. Cardoso explained that the […]
“Consider bringing back cashless policy in Nigeria, it will help to reduce kidnapping” – Actor, Yul Edochie tell president Tinubu
Nigerian actor, Yul Edochie, has called on President Bola Tinubu to bring back the cashless policy that was once introduced by the Central Bank of Nigeria (CBN). Yul made this request through a message he posted on social media. He believes that the cashless policy, which allowed people to use less physical money and rely […]
Naira bounces back, appreciates against dollar at foreign exchange market
The Nigerian currency, naira, saw a positive turn as it gained value against the US dollar in the official foreign exchange market on Thursday. According to the Central Bank of Nigeria, the naira’s exchange rate improved to N1586.15 per dollar on Thursday, compared to N1590.74 recorded on Wednesday. This means the naira went up by […]
Naira slumps against dollar at Black market after CBN retains interest rate
The naira has dropped again in the black market, falling against the dollar after the Central Bank of Nigeria (CBN) decided not to change the interest rate. A currency dealer in Wuse Zone 4, Abubakar Alhasan, said on Tuesday that the naira was exchanged at N1628 per dollar. This is lower than Monday’s rate of […]
Senate moves to enforce use of Nigerian-made vehicles in MDAs
The Nigerian Senate is working on a new law that will make government ministries and agencies (MDAs) buy cars made in Nigeria. The bill has passed its second reading and is moving closer to becoming law. The bill is called the ‘Local Automotive Industry Patronage Bill, 2025’. Senator Patrick Ndubueze from Imo North sponsored the […]
Naira continues appreciation at official foreign exchange market
Nigeria’s currency, the naira, showed a mixed performance on Tuesday as it continued to strengthen in the official foreign exchange market but fell slightly in the black market. According to data from the Central Bank of Nigeria (CBN), the naira appreciated slightly at the official rate, moving from N1,600.44 per dollar on Monday to N1,600.030 […]
Naira continues depreciation against dollar across official, black FX markets
The Naira’s struggle against the dollar continues, with its value dropping on Thursday in both the official and black market exchange rates. According to the latest data from the Central Bank of Nigeria (CBN), the official exchange rate saw the Naira fall further to N1609.64 per dollar, compared to N1,608.60 the day before. This means […]
Crude oil sales in Naira will continue – FG
The Federal Government of Nigeria has confirmed that it will continue selling crude oil and refined products in Naira. This decision is part of a long-term plan to help the country’s economy by reducing its dependence on foreign exchange and improving local refining. The confirmation was shared on April 9 via the Federal Ministry of […]