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The naira depreciated slightly against the dollar at the official foreign exchange market on Thursday. The Central Bank of Nigeria exchange rate data showed that it fell marginally to N1,584.95 per dollar on Thursday from N1,584.49 traded on Wednesday. This means that the Naira dropped by N0.46 against the dollar on a day-to-day basis. However, at the black market, the sell rate of Naira to dollar remained flat at N1,625 […]
The Federal Government, through the Securities and Exchange Commission, is set to delist the naira from all peer-to-peer crypto platforms as the government steps up efforts to tackle exchange rate manipulators and dollar racketeers. The development came against the backdrop of the recent moves by the Federal Government to regulate Nigeria’s crypto market estimated at $57bn. The newly-appointed Director-General of the Commission, Emomotimi Agama, disclosed the government’s latest plan during […]
The Central Bank of Nigeria has said it is raising dollar supply in the foreign exchange market, just as it also lifted the ban on 43 items that were previously not qualified for forex at the official market. The decision came after the naira tumbled to 1,050/$ at the parallel market on Thursday, following pressure from international organisations and experts. The PUNCH earlier noted that despite unifying exchange rates, the […]
The naira maintained its downward trend against the dollar as it traded for 876/$ at the parallel market on Sunday. Some Bureau de Change operators, who spoke to The PUNCH, said the local currency had earlier exchanged to the dollar at 820 a week earlier. Since the unification of the exchange rates in the country by the Central Bank of Nigeria in recent weeks, the naira had continued to slide to […]
