• Naira tumbles against dollar at the parallel market…. See the current value

    Naira tumbles against dollar at the parallel market…. See the current value

    Nigerians are in for more hardship as the naira has continued to tumble against the dollar at the parallel market.

    The naira suffered serious depreciation against the dollar it now exchanges N485 to a dollar and N600 to a pound at the parallel market. At the interbank market, the naira depreciated further from 305 to 315 per dollar, while the pound went for N401.

    This is coming at a time when the Central Bank of Nigeria (CBN) is making special forex auction […]

  • Naira appreciates against dollar at interbank market

    Naira appreciates against dollar at interbank market

    The Naira on Wednesday appreciated against the dollar at the interbank market.

    The Nigerian currency gained 50k to close at N304.50 compared to N305 it traded on Tuesday.

    At the Bureau De Change window, the Naira was sold at N400 CBN controlled rate, while the Pound Sterling and the Euro traded at N565 and N500, respectively.

    Skeletal but clandestine trading at the parallel market saw the Naira closed at N470 to a dollar, while the Pound Sterling and the Euro closed at N565 […]

  • Naira struggles against the dollar at forex market

    Naira struggles against the dollar at forex market

    The Naira opened at the interbank market and the parallel market today, struggling against the dollar in its usual fashion. Although some analysts see a rise in the naira this week, others are skeptical of any significant appreciation.

    Below are figures of todays exchange rates.

     

    The Naira opened at the interbank market and the parallel market today, struggling against the dollar in its usual fashion. Although some analysts see a rise in the naira this week, others are skeptical of any significant […]

  • Raid by DSS worsens dollar scarcity at parallel market

    Raid by DSS worsens dollar scarcity at parallel market

    Suspicion and fear permeates the Lagos parallel market as traders struggle to come to terms with last week’s raid by security operatives, the News Agency of Nigeria reports.

    The situation worsened the scarcity of the greenback as traders’ fear that operatives of the Department of State Services were still disguising as potential foreign exchange buyers in the market.

    A currency trader, who pleaded anonymity, said the situation might further erode the gains made by the Central Bank of Nigeria in ensuring the […]

  • Good News! Naira Improves Against the Dollar at the Black Market….See Current Value

    Good News! Naira Improves Against the Dollar at the Black Market….See Current Value

    The naira has improved impressively at the black market with the usual stagnancy at the interbank rate.

    These are the currency exchange rates for today, November 14, 2016, powered by Zenith Bank Plc. This will certainly help douse the inflationary trend in Nigeria due to the import-based nature of the Nigerian

  • DSS raids Bureau de change, arrests dealers selling dollar above N400

    DSS raids Bureau de change, arrests dealers selling dollar above N400

    According to reports, the Department of State Services (DSS) on Thursday raided the foreign exchange parallel market (Bureau de change) in Lagos and Abuja, arresting dealers who were selling the dollar above N400.

    A dealer, who confided in newsmen, said some of his colleagues were among those arrested.

    “The DSS visited the market and arrested some of my colleagues, but I was saved because I didn’t have dollar to sell at the time,” the middle-aged dealer said.

    “They want us to buy at […]

  • Naira appreciates against dollar

    Naira appreciates against dollar

    It was gathered that the Naira on Tuesday appreciated against the dollar in all the segments of the forex market, the News Agency of Nigeria (NAN) reports.

    The currency gained N44.95 to exchange at N305.27 to the dollar at the interbank market after its Monday’s record of N350. 22.

    At the parallel market, the naira gained N5 to exchange at N465 from N470 it traded on Monday, while it went for N565 and N510 against the Pound Sterling and the Euro, respectively.

    Trading […]

  • Naira extends gain against dollar

    Naira extends gain against dollar

    It was gathered that the Naira on Tuesday extended its gains against the dollar across the Forex market.

    The nation currency gained N4.06 at the interbank market to close at N304.75, from N308.81 posted on Monday.

    At the Bureau De Change window, the naira was sold at N385 to a dollar, CBN controlled rate, while Pound Sterling and Euro traded at N565 and N504 respectively.

    Naira gained three points at the parallel market to close at N465 to a dollar against N468 posted […]

  • How Buhari can crash the Dollar/Naira disparity- Ifeanyi Ubah explains

    How Buhari can crash the Dollar/Naira disparity- Ifeanyi Ubah explains

    Nnewi-born billionaire and Managing Director of Capital Oil and Gas, Dr. Ifeanyi Ubah, has offered the President Muhammadu Buhari-led administration what he described as the best possible ways to addressing the biting recession, as well as crash the proliferating Dollar/Naira disparity in the foreign exchange market.

    Speaking at the World Youth Gathering, Holy Ghost Adoration Ground, Uke in Idemili North Local Government Area of Anambra State, Ubah lamented that there is nothing wrong with the Nigerian economy, but rather said the […]

  • Naira strengthens against dollar at interbank market

    Naira strengthens against dollar at interbank market

    The Naira on Friday appreciated against the dollar at the official interbank market, the News Agency of Nigeria (NAN), reports.

    The Nigerian currency gained 50k to exchange at N304.50, from N305 posted on Thursday.

    At the Bureau De Change (BDC) Segment of the market, the naira closed at N385 CBN controlled rate, while the Pound Sterling and the Euro traded at N560 and N503, respectively.

    The naira, however, weakened against the dollar at the parallel market, nullifying the N5 it gained on Thursday […]

  • Bag of rice will sell for N5, 000, dollar will exchange for N150, fuel for N30 – Prophet Okeowo

    Bag of rice will sell for N5, 000, dollar will exchange for N150, fuel for N30 – Prophet Okeowo

    Prophet Ade Okeowo of Word of Liberty Evangelical Ministry, Ikorodu, Lagos State, has revealed that Nigeria will soon experience a turnaround as prices on commodities will crash in no time, stating that God did not, however, specify that the revelation would come to pass under President Muhammadu Buhari’s regime.

    He specifically mentioned that God told him the cost of bag of rice and fuel, will be drastically reduced.

    He made this revelation in a chat with Encomium, urging Nigerians to stop casting […]