The Central Bank of Nigeria, CBN, has devalued the naira to N631 to the dollar from N461.6. The devaluation came 48 hours after President Bola Ahmed Tinubu announced the plans of the Federal Government to unify the country’s exchange rate to stimulate the economy. According to the Daily Trust, Continue Reading
The Nigerian naira has dropped to N614 against the dollar at the parallel section of the foreign exchange market. The figure signifies a depreciation of N7 or 1.2 percent compared to the N607 it traded last two weeks. Bureaux De Change operators, popularly known as ‘abokis’, who spoke to journalists in Lagos on Tuesday, said they […]Continue Reading