The Nigerian Naira has seen a depreciation in the parallel market, falling to N1,739 per dollar on Thursday, a slight decline from N1,735 per dollar reported on Wednesday. This movement reflects ongoing volatility in the foreign exchange landscape.
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The Nigerian naira has been identified as one of the weakest currencies in Sub-Saharan Africa for 2024, according to the latest report from the World Bank, titled “Africa’s Pulse.” As of August 2024, the naira has experienced a steep depreciation of around 43% year-to-date, placing it alongside the Ethiopian birr and the South Sudanese pound in terms of performance.
Speaking on Channels Television’s The Morning Brief programme, economic analyst Oyalowo highlighted a crucial factor behind the nation’s economic difficulties: the weak performance of the naira against the dollar. “I don’t think the price of fuel is a major problem; what is causing most of this problem is the rate at which our naira is priced against the dollar,” Oyalowo stated.
In a recent announcement, former Lagos State Governor and potential presidential candidate, Bola Tinubu, has revealed plans to bolster the Nigerian Naira. Dr. Tope Fasua, the Special Adviser to the President on Economic Matters, shared this information during a “Cowries to Cash” lecture and luncheon in Abuja.
Already, the redesigned Naira Notes that recently entered into circulation have been faked and are now spreading in your area.
The Federal Republic of Nigeria unveiled the redesigned Naira notes on Wednesday in a closed ceremony attended by President Muhamadu Buhari..
The new Naira to Dollar exchange rate has placed the Nigerian currency in an an-almost-valueless position.
Nollywood actor Aremu Afolayan has called out the Vice President, Professor Yemi Osinbajo, over the state of the economy in Nigeria.
eNaira, also known as the Central Bank Digital Currency, CBDC, is issued and regulated by the Central Bank of Nigeria, CBN.
Cryptocurrency Subscribers are bracing up for the launch of Nigeria’s own electronic money – eNaira, which has been slated to come out on Monday, 25, 2021.
One Naira now placed at Five Hundred and Thirty (N530) as against One Dollar, Six Hundred and Twenty (N620) against the Euro and Seven Hundred and Twenty-Two (N722) to the Pound in the parallel market.
Naira Exchange Rate will soon be transacting at the same level as other currency denominations, just as the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, opined that the Nigerian money is heading towards a unified market value.
Naira Involve In Fatal Accident Egbon: Kai kai, oluwa saanu fun wa ooo, ah, this wan too much o Mazi: Abeg talk…
Naira crashes against dollar by 3.4 per cent, just as some financial experts predicted that the action by the Federal Government to ban Forex sales to Bureau De Change, BDC Operators would bring severe consequences.
In an attempt to identify the numerous challenges crippling economic activities in Nigeria, the President of Nigeria Labour Congress, NLC, Ayuba Wabba, was quick to state that the nation’s currency had since lost its value by over 150%.
The one thing that can stop you from relocating out of Nigeria, is the simple reason that travel agencies have just received a notification directing all parties to jack up International Travel Cost for tickets sold in the country.
Naira Cause Kasala Egbon: Baba God, abeg no allow make the plan wey these people get for mind come to pass…
In a new slew of financial projections that involve the NairaNaira, the predictions coming in for the trajectory of the Nigerian currency for 2021 do not exactly inspire optimism.
Nigerian singer and superstar, Davido, has cried out over the naira to dollar exchange rate in Nigeria at the moment.
The naira weakened to 470 against the United States dollar in the parallel market on Friday despite the interventions of the Central Bank of Nigeria in the official window.
We still depend on our foreign exchange earning on oil export. We still import everything. The president does not use anything Nigerian. The same with ministers and governors. So we are back to ground zero.