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…