A surge in demand for dollars in the parallel market driven by banks and end-users combined with slow forex disbursement to BDCs by the Central Bank of Nigeria, CBN, caused the Naira, last week, to fall by 23 per cent…
THE GUARDIAN Nigeria’s capacity to take advantage of a weakened currency to boost its revenue profile and bridge gaps in balance of trade remains undermined by lingering domestic challenges, especially that of logistics, in transiting its non-oil exports. Notwithstanding efforts…
THE GUARDIAN Early this year 2021, the World Bank reported that diaspora remittance in Nigeria for the year 2020 fell to $17bn from $23 in 2019. Analysts attributed the use of alternative platforms powered by blockchain technology, partly, as a…
THE GUARDIAN In apparent contradiction of its earlier stance on floating the naira, the Federal Government, yesterday, prevailed on the Central Bank of Nigeria (CBN) to allow the currency to reflect market realities. According to Vice President, Prof. Yemi Osinbajo,…
PREMIUM TIMES Naira extended losses against the U.S. dollar at the parallel market on Thursday as the currency exchanged hands with the greenback at N530 per $1. This translates to a N2.00 or 0.40 per cent devaluation from N528.00 rate…