•Market women As the Muslim holy month of Ramadan starts, traders in Kano have continued to lament poor patronage by customers. Some of the traders who spoke to our correspondent yesterday in Kano attributed the situation to the low purchasing power of customers, reports NAN. A food stuff dealer, Malam Tanko Idris, said that, compared [&hellip...
The naira depreciated to N1,534 per US dollar in the official foreign exchange market yesterday, February 12, 2024 from N1, 469.97/US$ on Friday and N1,479.47/US$ on Thursday last week. Data from FMDQ showed that the indicative exchange rate for the Nigerian Foreign Exchange Market (NAFEM) fell below that of the unofficial market, reports Nige...
•Forex The naira fell to an all-time low of N1348.63/$ on the Nigerian Autonomous Foreign Exchange Market yesterday. This signifies a 51.21 per cent fall from the N891.90/$ the national currency closed last Friday at the official market, according to data from the FMDQ Securities Exchange, reports The PUNCH. Yesterday’s official rate is the wo...
The naira has hit a record low at the parallel section of the foreign exchange market. The local currency closed at N1,415 yesterday compared to N1,365 to the greenback exchanged on Wednesday, January 24, 2024, reports Nigerian Tribune. Currency traders, also known as Bureau de Change (BDC) operators, put the buying rate of the greenback [&hel...
•Tinubu Stakeholders have scored PresiÂdent Bola Ahmed Tinubu low on his performance more than six months after taking over the reins of government, saying his administration has worsened the conÂdition of Nigerians. Most of the stakeholders who spoke to our correspondents on President Tinubu’s administration so far, while noting his boldness ...
There are strong indications that Nigerians might not be able to fill the 95,000 seats allocated to the country for the 2024 hajj. The National Hajj Commission of Nigeria (NAHCON) had fixed December 31 as the deadline for the remittance of hajj deposits paid to Pilgrims Welfare Boards in states by intending pilgrims, reports Daily […]
•Market Marketers in Kuje Area Council of the Federal Capital Territory have blamed the removal of fuel subsidy as the cause of low patronage and high cost of food products. A visit to the main Kuje market, two marketers interviewed by our correspondent blamed the removal of fuel subsidy as the major cause of low […]