LAGOS JULY 26TH (NEWSRANGERS)-The naira crossed the N1,600 mark against the dollar at the official foreign exchange market on Thursday. FMDQ data on Thursday showed that the naira depreciated to N1,603.80 per dollar on Thursday from N1,586.71 traded on Wednesday, recording a N17 loss. Similarly, at the black market, the naira further depreciated to N1,593…
LAGOS JULY 15TH (NEWSRNAGERS)-Nigeria’s naira extended its losing streak to a fourth day, slipping to the weakest level since March despite central bank intervention amid seasonal demand for dollars and continuing investor skepticism. The naira stood at 1,563.8 per dollar at its official close on Friday, according to FMDQ. That’s the weakest since March 18,…
LAGOS MAY 12TH (NEWSRANGERS)-The Economic and Financial Crimes Commission(EFCC) has asked the federal government to ban embassies from transacting in foreign currencies within Nigeria, saying it is illegal and “unhealthy”. In a letter addressed to Foreign Affairs Yusuf Tuggar, EFCC chairman Ola Olukoyede registered his displeasure that the embassies charge visa fees and consular services in dollars…
LAGOS MAY 6TH (NEWSRANGERS)-The Naira depreciated by N130 against the United States dollar at the parallel foreign exchange market on Sunday. A Bureau De Change operator, Mistila Dayyabu, disclosed this to the DAILY POST in an interview. He noted that Naira dropped to N1,420 per dollar from N1,290 in less than 48 hours at the…
LAGOS MAY 1ST (NEWSRANGERS)-A recent report by Statisense has ranked the Nigerian Naira and the Argentine Peso among the top 15 weakest currencies against the U.S. dollar, highlighting ongoing economic challenges in both nations. Naija News reports that this revelation follows a considerable depreciation in the value of the Naira. The currency hit a record…
LAGOS APRIL 27TH (NEWSRANGERS)-Prophet Chukwuemeka Ohanemere of the Mountain of Holy Ghost Intervention and Deliverance Ministry, also known as Odumeje, said he has returned to Nigeria to stop the appreciation of the dollar against the Nigerian currency. Odumeje, in a video recorded at the airport while returning from London, boasted: “This is Indaboski Bahose. The…
LAGOS MARCH 26TH (NEWSRANGERS)-The Central Bank of Nigeria has disclosed that it will be allocating $10,000 to each Bureau de Change operator at N1,251/$. This was contained in a circular made available to The PUNCH and signed by the bank’s Director, Trade and Exchange Department, Dr Hassan Mahmud on Monday. The apex bank directed each…
LAGOS FEBRUARY 27TH (NEWSRANGERS)-Ace economist and chieftain of the Labour Party, Pat Utomi, has issued a stern warning that the naira may fall to N10,000 per dollar if nothing is done urgently. Utomi gave this warning on Sunday at an event organised by activist Dr Moses Paul to mark the first anniversary of the 2023…