•Tinubu The Tinubu-led federal government has spent approximately $8 billion to stabilise the naira, the Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, has said. Rewane also serves on the Board of the Nigerian Economic Summit Group among other entities, reports Daily Trust. His claim is coming amidst the celebrated ...
•Precious Uzondu The Economic and Financial Crimes Commission (EFCC) today, Wednesday, February 5, 2025, arraigned Precious Uzondu on a two-count charge bordering on alleged refusal to accept naira as a legal tender before Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos. One of the counts reads: “That you, Precious Chimao...
•US Dollar notes and Naira notes The Naira depreciated at the official market yesterday, trading at N1,495.60 to a dollar. Data from the FMDQ Security Exchange official forex trading platform revealed that the Naira lost N20.82. This represents a 1.4 per cent loss when compared to the previous trading day on Friday, January 31, when […]...
•Naira and Dollar notes The Naira yesterday depreciated to N1,660 per dollar in the parallel market from N1,655 per dollar on Monday. But, the Naira appreciated to N1,549 per dollar in the official foreign exchange market. Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for Nigerian Foreign Exchange Market [&h...
•US Dollar and Naira notes The Nigerian naira has nosedived to N1,541.36/$ in the official foreign exchange market on the first trading day of the New Year. Data from the Nigerian Foreign Exchange Market (NFEM), as published on the Central Bank of Nigeria’s website and sighted by our correspondent, indicates a 0.36 per cent depreciation [&hell...
•US Dollar and Naira notes The Naira continued its downward trend in the parallel market, depreciating further to N1,650 per dollar yesterday, a slight drop from Monday’s rate of N1,648 per dollar. In contrast, the official foreign exchange market provided a rare moment of relief, as the Naira appreciated marginally to N1,537 per dollar, gaini...
•Naira notes There is a surge in the hawking of naira notes at exorbitant charges in different parts of the country, as Nigerians continue to struggle with limited access to cash in banking halls despite threats by the Central Bank of Nigeria. The CBN had warned that it would penalise Deposit Money Banks found supporting […]
•Naira and Dollar The Naira yesterday depreciated to N1,745 per dollar in the parallel market from N1,740 per dollar on Wednesday. But the Naira appreciated to N1,658.67 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,658.67 per dollar from N1,68...
•Tinubu The Organised Labour, at weekend in Ibadan, Oyo State, urged President Bola Tinubu to reverse the floating of the national currency and energy cost to lessen the hardship across the country. Under the aegis of the National Union of Shop and Distributive Employees, NUSDE, Organised Labour noted that Nigerians and businesses are passing ...
•Naira notes The chairman of the Ogun State Manufacturers Association of Nigeria (MAN), George Onafowokan, has lamented the crisis in Nigeria’s manufacturing sector following the government’s decision to float the Naira in 2023. According to him, 16 major manufacturing firms have incurred cumulative losses amounting to N792 billion due to nair...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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