Nigeria's leading finance and market intelligence news report.

Naira reverse gain to close at N500 on black market

Nigeria’s currency on Monday reversed the gains made last weekend as the naira/dollar exchange rate closed at N500 representing 0.40 percent compared to N498 closed on Friday at the parallel market. The naira depreciation was due to the activities of speculators, following the naira adjustment to N410.25k/$ by the Central Bank of Nigeria (CBN). Also…

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