LAGOS NOVEMBER 26TH (NEWSRANGERS)-Nigeria’s central bank pledged major changes to get a grip on inflation and steady the country’s battered currency, signaling tighter monetary policy ahead. The Central Bank of Nigeria will switch to inflation targeting instead of trying to control money supply in its battle to slow price increases, Governor Olayemi Cardoso said in…
LAGOS NOVEMBER 19TH (NEWSRANGERS)-The naira gained massively against the dollar on Friday as it closed at N791/dollar at the official market. This has brought some sanity to the market, which has fluctuated for several months now. According to data from the Nigerian Autonomous Foreign Exchange Market, where forex is officially traded, the domestic currency appreciated…
LAGOS NOVEMBER 13TH 9NEWSRANGERS)-Nigeria will boost incentives for foreign investors in an attempt to address a decline in capital coming into the country as part of the government’s plans to revive the economy. The administration in Abuja will introduce measures to eliminate double taxation and allow speedy remittances of foreign money, Doris Uzoka-Anite, the minister…
LAGOS NOVEMBER 11TH (NEWSRANGERS)-Nigeria’s currency, the Naira, slumped further against the US Dollar in the foreign exchange markets on Thursday. Data from the official FMDQ market indicated that the Naira closed on Wednesday at 996.75 Naira per US Dollar, reflecting a decrease of 122.01 Naira from the previous day when it traded at 874.71 Naira…
LAGOS OCTOBER 24TH (NEWSRANGERS)-On Monday, the foreign exchange (FX) market resumed trading after the weekend, with naira hitting an all-time low of N1,210 on the parallel market or black market. This represents 3.41 percent weaker than N1,170 closed on Friday on the same market. Last week, the Naira weakened by 11.43 percent week-on-week to a…
LAGOS OCTOBER 22ND (NEWSRANGERS)-The naira slid to the brink of 1,000 per dollar in a fresh low in the official market thanks to a combination of central bank tolerance for a weakening currency and insatiable demand for the greenback. The currency was pushed to its latest record a week after the central bank ended curbs…
LAGOS OCTOBER 7TH (NEWSRANGERS)-Nigerians have been told when the ailing naira may bounce back to reduce hyper inflation and pains on the citizenry. The indication was revealed at the 7th annual conference of the Guild of Corporate Online Publishers (GOCOP) by a professor of capital market, Uche Uwaleke. The expert from the Nasarawa State University,…
LAGOS SEPTEMBER 3RD (NEWSRANGERS)-The General Overseer of Redeemed Christian Church of God, Pastor Enoch Adeboye, has predicted the possibility of Naira bouncing back and this time greater than the United States dollar. Our correspondent reports that based on findings in the black market buying rate of the dollar is about N915, and sells at N918….
