•Foodstuffs Nigerians have reacted, stating that the surge in the dollar’s value is not solely responsible for the increase in the prices of goods. Reacting to a post on social media platforms, Nigerians emphasised that the decline in dollar might not affect the prices of goods as there are additional underlying factors influencing it, reports...
•Human rights activist, Mike Ozekhome Lawyer and human rights activist, Mike Ozekhome has indicated that should the Naira keep on falling against the Dollar at its current rate, it might hit the 4000 mark to the dollar before the year’s end. Recently, the scarcity and demand for dollars have led to a significant decline in […]
The naira yesterday 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, reports Daily Trust. Despite the raids, however, the naira plunged further with a dollar exch...
The foreign exchange crisis worsened yesterday as the local currency further depreciated, exchanging at N1,600 to a dollar at the parallel market, findings have shown. This was coming a few days after the local currency hit an all-time low at the official market, crossing N1,500 to one dollar, reports Daily Trust. The naira has come […]
Banks are inducing their customers to sell the foreign currencies domiciled in their branches. Some of the banks, it was discovered, have developed platforms to sensitise customers on how the dollar deposits in their domiciliary accounts can be converted to naira, reports The Nation. In a note via SMS to customers, some of the banks […]
The naira continued its rebound against the dollar today, strengthening to N950/$ on the average in the parallel market. This represents a N170 gain or a 15.18 per cent appreciation of the local currency compared to the N1,120 it traded for yesterday, reports The PUNCH. This is also the second day of recovery for the […]