Category: Economy

The naira has been listed among the worst-performing currencies in Sub-Saharan Africa in 2024. This was according to the latest edition of Africa’s Pulse, a new report by the World Bank. As of the end of August 2024, the naira had depreciated by approximately 43 percent year-to-date, making it one of the region’s weakest currencies […]

There are indications that the nation’s currency has come under fresh demand pressure in the parallel market with significant depreciation recorded in the past week. Yesterday, parallel market dealers traded at N1,705/ $1.00 down from N1,655/$1.00 a week ago, with sustained day-to-day slide. Vanguard’s Naira watch indicates the steady slide is happening for the first […]

The Managing Director and Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, has projected that the Nigerian economy would grow by 3.5 percent by 2026, pushing the country’s gross domestic product to approximately $400bn. He disclosed this at the Access Bank Customer Forum held in Lagos on Thursday. “The Nigerian economy will grow […]

The naira closed at N1,582.09 against the United States dollar at the official market on Tuesday, August 13, 2024. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira lost N4.4. It represents a 0.71 percent loss when compared to […]

The Central Bank of Nigeria has disclosed that the net foreign exchange flows into the country increased to $25.4bn in the first six months of 2024, marking a 55 percent increase from the figure recorded year-over-year. It said the evident progress is a result of its policy measures, as the naira closed at  N1,596 against […]

Dollar to Naira CBN Rate Today Dollar to Naira (USD to NGN) CBN Rate Today Buying Rate N1605 Selling Rate N1606 Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary. Naira Fights Back Against US Dollar At Official Market The Nigerian […]

The Naira on Monday appreciated at the official market, trading at N1,607.15 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira gained N9.93. This represents a 0.61 percent gain when compared to the previous trading date […]

The naira, on Monday, August 5, 2024, appreciated at the official market, trading at N1,607.15 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira gained N9.93. This represents a 0.61 percent gain when compared to the […]

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has declared that the nation’s economy will hit $1 trillion economy by 2030. He made the declaration on Friday during his presentation on first half-year review of the Bank’s activities in 2024 before the Senate Committee on Banking, Insurance, and Other Financial Institutions. Affirming the […]