Naira falls to new low of N750 per dollar
Naira records a new low of N750 per dollar.
Naira on Thursday fell to its lowest ever as demand for dollars increased amid the shortage.
After trading on Thursday Naira lost 0.4…
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Dollars
Pound collapses against dollar, inches closer parity with fresh 37-Year Low
The British pound plunged by the most since March 2020, reaching the lowest in 37 years against the dollar, as the UK’s expensive fiscal stimulus plan fueled a wave of bearish bets on the…
NPA operates approved USD accounts -Management
The Nigerian Ports Authority (NPA) has dismissed reports that it operates two secret foreign accounts, saying it only operates two USD-denominated domiciliary accounts that were approved by…
Manufacturers tap local inputs as FX crisis deepens
As the lingering scarcity of foreign exchange (FX) is hampering their ability to import raw materials, manufacturers in Nigeria are increasingly shifting towards local substitutes.
The FX…
Election funding driving Nigerian naira to new lows
Politicians in Nigeria are buying dollars to fund vote hunting in primary elections that start over the weekend, driving the local currency to new lows in the unauthorized parallel market,…