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 FEBRUARY 13TH (NEWSRANGGERS)-In a move to reduce the pressure on the naira, the Economic and Financial Crimes Commission has raised a 7,000-man special task force across its 14 zonal commands to clamp down on dollar racketeers. The spokesperson for the anti-graft agency, Dele Oyewale, in a statement on Wednesday in Abuja, said the commission…
LAGOS FEBRUARY 9TH (NEWSRANGERS)-Following the incessant increase in Customs exchange rate for clearance of imported items at the Nigerian seaports and Airports, and instability of foreign exchange in the country, importers in the country have started dumping Nigerian seaports for Port of Tema, Ghana; Port of Lome, Togo and Port of Cotonou, Benin Republic, LEADERSHIP…
LAGOS OCTOBER 11TH (NEWSRANGERS)-The naira fell further on Tuesday as it exchanged for the dollar at the parallel market between 1,005/$ and 1,025/$. Owners of small-scale enterprises, Nigeria Employers’ Consultative Association, and manufacturers, who spoke to The PUNCH, expressed concern about the falling value of the naira, warning that it would lead to the shutting…