Tag: NAFEM

Excitement As Nigeria’s Naira Sustains Rally at parallel market

The Nigerian naira has strengthened further across the foreign exchange (forex) markets amid expectations that the national currency will continue to gain weight in the period ahead. At the Nigerian…

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Over $300m Sold To Banks By CBN As Naira Gains

The Central Bank of Nigeria has given over $300m to Deposit Money Banks in the last two weeks amid desperate efforts to stabilize the naira-dollar exchange rate.     The…

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Tinubu’s Govt Seeks $1.5bn Loan To Shore Up Naira, Boost Budget

Nigeria is seeking $1.5bn aid from the World Bank to tackle the severe dollar shortage contributing to the decline of the naira. “We’re hoping to get $1bn or $1.5bn from…

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Naira slumps to N1,043 at official market

The Nigerian Naira reached a new low on Thursday, closing at N1,043.09 per dollar in the official market.   The domestic currency depreciated by 16.35% to close at N1,043.09 to…

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