LAGOS JULY 11TH (NEWSRANGERS)-The naira exchanged to the dollar at N504 at the parallel market on Friday, according to the Bureau de Change operators. It had earlier exchanged to the dollar at 500 in the previous week and at N490 a month earlier. According to naijabdcs.com, the Central Bank of Nigeria’s official rate for the…
LAGOS JUNE 20TH (NEWSRANGERS)-Daily, numerous quacks throw open their shops from where they defraud unsuspecting members of the public, who wonder their way in search of solutions to their problematic mobile phones. Posturing as certified personnel, most of these so-called phone repairers are barely skilled as far as phone repairs is concerned, having never been…
LAGOS JUNE 15TH (NEWSRANGERS)-The value of the naira to the dollar fell from 196.99 in December 2015 to 410 in April 2021, reflecting a 51.95 per cent decline despite the various foreign exchange policies introduced by the Central Bank of Nigeria to strengthen the currency. According to a monthly document obtained from the CBN’s website,…
LAGOS JUNE 2ND (NEWSRANGERS)-The foreign exchange (Forex) market in Nigeria was thrown into a panic mood on Monday when the value of the Naira significantly depreciated against the Pound Sterling at the parallel market. Business Post reports that the Naira lost N10 against the British currency at the unregulated segment of the FX market to…
LAGOS MARCH 1ST (NEWSRANGERS)-More cryptocurrency trading goes on in Nigeria than almost anywhere else in the world, reflecting a loss of faith in more traditional forms of investment, as Ijeoma Ndukwe reports. Tola Fadugbagbe recalls moving to Lagos from his small south-western town 10 years ago with dreams of brighter prospects. Instead, the 34-year-old ended…
LAGOS DECEMBER 12TH (NEWSRANGERS)-The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, says the naira will regain its strength among the league of currencies. He stated this on Saturday morning during the Church’s annual Holy Ghost Congress held at the RCCG International Headquarters along the Lagos-Ibadan Expressway. The PUNCH reports that…
LAGOS DECEMBER 6TH (NEWSRANGERS)-Forex turnover rose sharply by 173.3%, as the Naira’s exchange rate at the NAFEX window remained stable against the dollar to close at N395/$1 during intra-day trading on Thursday, December 3. Also, the Naira appreciated significantly against the dollar, closing at N470/$1 at the parallel market on Thursday, December 3, 2020, as the…
LAGOS NOVEMBER 15TH (NEWSRANGERS)-The naira weakened to 470 against the United States dollar in the parallel market on Friday despite the interventions of the Central Bank of Nigeria in the official window. The nation’s currency had traded at N465, N466 and N468 against the greenback on Tuesday, Wednesday and Thursday respectively. But it fell on…