Tag: Naira
Again, Naira Hits N1,825 to Dollar Despite EFCC Rescue Attempt
Tuesday saw the naira plummet further, reaching N1,825 against the dollar, despite the Economic Financial Crimes Commission’s (EFCC) efforts to disrupt the activities of suspected manipulators and speculators. It was reported on Monday about the EFCC’s raid on the prominent Abuja Zone 4 market, where they fired shots at Bureau De Change operators in an…
JUST IN: Naira Crumbles to N1,600 Per $1 as Tinubu’s Economic Turmoil Continues
The Nigerian Naira plummeted to N1,600 against the US Dollar on Thursday, underscoring ongoing economic challenges during President Bola Tinubu’s administration. Aboki Forex reported the decline despite the Central Bank of Nigeria’s efforts to stabilize the currency. Although the Naira had been weakening against the Dollar prior to Tinubu taking office last May, its decline…
Naira Depreciates in Parallel Market, Gains Strength in Official Window
The Nigerian naira gained strength at the official forex window on Monday, following reassurances from Olayemi Cardoso, the Governor of the Central Bank of Nigeria, about the institution’s efforts to address currency volatility. According to data from the FMDQ, the local currency appreciated by 1.09 percent, closing at 1,419.86 naira per dollar at the official…