The Nigerian currency (Naira) on Wednesday depreciated by N5.00k as one dollar was sold at N425 compared to N420/$ traded on Tuesday at the black market.
In some parts of Lagos State, like Festac and Apapa, the dollar was trading at N420 amid low demand and scarcity of forex.
Foreign exchange market opened on Wednesday with an indicative rate of N385.07k per dollar. This represents 0.17 percent gain compared to N385.71k opened on the previous day at the Investors and Exporters (I&E) forex window.
Hope Moses-Ashike
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
