Tinubu’s Wheelbarrow Remark: A Look at the State of Nigeria’s Currency
President Bola Tinubu has expressed concern over the potential collapse of Nigeria's currency, stating that wheelbarrows might have been needed to carry…
President Bola Tinubu has expressed concern over the potential collapse of Nigeria's currency, stating that wheelbarrows might have been needed to carry…
As businesses, investors, and Nigerians rely on foreign currency for international transactions, the exchange rate against the US dollar remains a significant concern.
The Nigerian naira has appreciated against the United States dollar, trading at N1,352.8710, at the Central Bank of Nigeria's (CBN) official foreign exchange (FX) window.
The Nigerian naira has depreciated to N1,367 per dollar in the parallel market, according to data from the Central Bank of Nigeria.
Finance Minister, Oyedele, has revealed that the Naira's exchange rate could rise to N4,000 per dollar due to the ongoing fuel subsidy.
Despite retaining its third position in Africa's largest economies, Nigeria struggles with a weak naira and a staggering 63% poverty rate.
On Thursday, the naira maintained a relatively stable exchange rate against the US dollar across both the official and parallel markets.
The Central Bank of Nigeria (CBN) has urged Nigerians to handle the local currency with care, stating that doing so would help extend its lifespan and reduce the…