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Nigeria’s foreign exchange (FX) reserves have witnessed a significant downturn, plunging by approximately $1.84 billion in 26 days, amidst the Central Bank of Nigeria’s (CBN) robust efforts to stabilise the Naira. Current figures from the Central Bank of Nigeria, CBN, as of April 12, 2024, reveal that the FX reserves are now positioned at $32.61
The APC and her supporters seem to be celebrating the recent dollar “supposed – gain” at N1,400. Most Nigerians, especially the well meaning Nigerians found it rather amusing and unfortunate. You’d recall that APC ousted PDP and inherited Dollar to Naira at 180 naira.. The calamitious Buhari used 8 years to spike the dollar from
This time last year the dollar rate was stable @ 730 to $1. It was the same at Binance P2P USDT was stable and pegged at 730 to $1. So what changed between last year and this year that caused a 60% Naira depreciation? There are two answers. 1. PresidentTinubu’s miscalculation. 2. Greedy Speculators Lets
The Naira fell to a new all-time-low of N1,720/$ at the parallel market on Monday, according to the data on abokiFX. This represents 3.61% decline from the N1,660/$1 it closed on Friday at the parallel market and a further fall from the N1,600/$1 it closed on Thursday. The naira also fell to N2,125 against the British
There is no end in sight to the lingering foreign exchange crisis as dollar crossed over N1,500 at the official market. The dollar closed at 1,534.39 at the official market on Monday, according to the FMDQ data. This is the first time the dollar would be exchanging at over N1,500 since the crisis putting more pressure
Bureau de Change Operators, under the Association of Bureau de Change Operators of Nigeria have shutdown operations over the surge in the price of the dollar. Members under the Abuja Bureau de Change Association who operate in Zone, 4, a hub for black market foreign exchange have also shutdown operations Major areas for sourcing foreign
Part of the problem with the Nigeria Economy are reps of the big four: KPMG, PWC, Deloittes, etc. They go on television analyzing rubbish about the Nigeria economy. They bandy mostly textbook economics on tv. But come 2027, there’ll still be no “price discovery” for the Naira. Nigeria defies everything you think you know! The
Statistics don’t lie, they say as people would surely judge the outcome of each leader or government with statistics but not sentiments. Bola Tinubu,has been at the helm of the affairs as the “President” of Nigeria for 8 months and the statistical analysis of his policies are heartbreaking. 1. The INEC.2. The Naira.3. The Judiciary.4.
Good afternoon and welcome to this afternoon hot 🔥 Gossip zone. Top of the Gossip this afternoon is about Justice Tsammani. Does that name ring a bell? Yes, he was the man that refused to look at the many evidences presented to him and his team at the Presidential Election Petition Tribunal, PEPT, threw them away citing
Amid the impact of the Central Bank of Nigeria’s foreign exchange reforms, the Naira depreciated against the dollar on Friday, exchanging at N803.90 at the investor’s and exporters’ window. According to NAN, the country’s currency decreased by 7.72 per cent compared to N746.28, which it exchanged for the dollar on Thursday. The open indicative rate
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