LAGOS FEBRUARY 4TH (NEWSRANGERS)-Former presidential candidate of the African Democratic Party, ADC and CBN Deputy Governor, Kingsley Moghalu has said the country’s currency, Naira, has become a commodity in the black market. Moghalu also said the current scarcity of the Naira was a way of the currency responding to its smuggling, arbitrage and other forms…
LAGOS DECEMBER 23RD (NEWSRANGERS)-Nigeria’s currency is poised for its eighth straight day of losses and on track for its longest losing streak since 2020, less than two months before a presidential election. The naira traded at 453.16 to the dollar as of 4:30 p.m. local time on Thursday in the spot market. The currency has…
LAGOS NOVEMBER 16TH (NEWSRANGERS)-The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has said the dollar might drop to ₦200 after the redesigning of naira. Bawa stated this in an interview with Deutsche Welle (DW) Hausa service, saying President Muhammadu Buhari did well to approve the redesigning. He said, “The law…
LAGOS NOVEMBER 14TH (NEWSRANGERS)-Bureau de change operators in Adamawa State are rejecting foreign currencies from customers due to growing uncertainty in the parallel market. Some of the money changers interviewed at Jimeta Modern Market in Yola said they were apprehensive over the sudden and continued crash of the dollar which destabilized the parallel market. The…