•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...
•Naira and Dollar The naira is forecasted to depreciate to N1,993 against the United States dollar by 2028, posing a significant challenge to Nigeria’s pharmaceutical industry, particularly in importing essential medical devices, a new report by BMI, a Fitch Solutions subsidiary, has revealed. In the report titled, “Weak Naira and Structural C...
•Naira and Dollar notes The Nigerian Naira experienced a slight decline in value against the US Dollar yesterday, trading at N1,631.17/$ at the official market. This represents a 0.04% loss, or 72 kobo depreciation, compared to Tuesday’s rate of N1,630.45/$. According to data from the FMDQ Exchange, the total daily turnover reduced significant...
•Dangote and Tinubu President Bola Ahmed Tinubu has met with members of the crude oil and refined products sales in local currency implementation committee. The committee was led by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, to the State House, Abuja for the meeting, reports Daily Trust. Among those [&helli...
•Naira and dollar notes There are indications that the local currency is set to fully reverse its gains as depreciation trend enters new height, hitting N1,740/$1 in the parallel market at close of trading last weekend. However, the Naira remained stable with minor appreciation in the Nigerian Autonomous Foreign Exchange Market, NAFEM, as deal...
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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