Amid frequent fall in naira, the house of representatives committee on finance, loans, and debt management, has recommended that all locally produced goods be banned from importation.
The house gave the recommendation while considering a report on the 2024-2026 medium-term expenditure framework and fiscal strategy paper (MTEF/FSP).
Recall that the...
For the second time this week, the naira appreciated significantly against the United States dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the country’s official exchange rate window.
The naira recovered from N837.77/$1, on Monday, to N806.73/$1, on Tuesday, after it slumped to N927.19/$1 on Friday, December 1, 2023...
Despite volatility in the Nigeria’s foreign exchange market, Nigeria recorded a daily foreign exchange turnover of $100.06million in the Nigerian Foreign Exchange Market (NAFEM).
The daily forex turnover rose by 32 percent from $75.82million, on Friday, November, 24, 2023 to $100.06million on Monday, November, 27, 2023.
According to the data from...
Despite experiencing decline in the last two days and high inflation rate in October, the naira, on Wednesday, still gained against the U.S. dollar in the official market.
It could be recalled that the National Bureau of Statistics (NBS), had released inflation rate which stands at 27.33% in October, up...
…. Bribes National Assembly Members To Avoid Probe
Few months from now, Godwin Emefiele, would have run the full course of his five-year term as Governor, Central Bank of Nigeria, CBN. In preparation for his exit, he has been papering over the cracks of his storied tenure in order to...
In other for the naira to sustain momentum against the United States dollar, financial experts and analysts have called for the use and purchase of made in Nigeria goods as against foreign made goods.
They also sought for an end to dollarising the economy, saying Nigeria spend about $40...
The naira sustained its appreciation against the United States dollar at the parallel market as it appreciated on Friday, from N1,160 to N1,155.
This represents 0.43 percent (N5) gain than N1,160 exchanged on Thursday at the parallel market.
It could be recalled that the naira had steadied in the parallel market...
The pressure on the foreign exchange (FX) market eased, on Tuesday, as naira steadied against the United States dollar in the parallel market.
According to Aboki FX, the naira sells for N1,160 on Monday and Tuesday respectively.
Also, the volume of United States dollars turnover in the Nigerian Foreign Exchange Market...
