Tag: Naira
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Naira trades at 1,507.83/$ as FX inflows hit $24 billion
On Wednesday, the naira exchanged at N1,507.83 to the dollar in the official foreign exchange (FX) market, owing to enhanced liquidity following the country's...
Naira drops on the official market despite Cardoso’s market optimism
Under growing pressure from the U.S. dollar index, the naira softened by 71 basis points in the official market, indicating improved stability in the...
CBN provides IMTOs with naira access to enhance remittances
On Monday, the Central Bank of Nigeria (CBN) announced fresh initiatives aimed at increasing naira liquidity and diaspora remittances.
Eligible International Money Transfer Operators (IMTOs)...
More naira, less value as N7.6 trillion in consumer spending is eroded by inflation
Nigerians are spending more money, but their money is worth less because by 2023, inflation will have cost consumers at least N7.61 trillion.
The National...
External reserves are expected to increase significantly due to inflows
Experts predict that once foreign inflows into Nigeria start, the country's external reserves will rise quickly.
Nigeria's foreign reserves have increased by 2.19 percent every...
