LAGOS OCTOBER 18TH (NEWSRANGERS)-Nigeria’s inflation rate hit a fresh 17-year high in September, stoked by a slide in the value of the naira that raised the cost of imported goods like gas and liquid fuel. Annual inflation accelerated to 20.8%, compared with 20.5% in August, according to data released by the National Bureau of Statistics…
LAGOS JULY 28TH (NEWSRANGERS)-The Senate, on Wednesday, resolved to summon the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, to educate and inform senators in a closed session on the reasons for the rapid depreciation of the value of the naira. It also mandated the Senate Committee on Banking, Insurance and Other Financial…
LAGOS JULY 7TH (NEWSRANGERS)-Nigeria’s currency fell to the lowest on record after traders adjusted prices to reflect the rate Central Bank of Nigeria sold the currency amid a lack of dollar supply in the authorized foreign-exchange market. The naira retreated 1.6% to 426.26 a dollar as of 3.30 p.m. local time on the investors and…
LAGOS DECEMBER 29TH (NEWSRANGERS)-Popular Nigerian humour merchant, Basketmouth, has called for the return of cowries as a legal tender. Reacting to the current exchange rate, the comic act put together a photo collage consisting of all the Nigerian currency from N5 to N1000 notes and noted the total sum is less than $5. He wrote:…