Category: business

Naira Rises Against Dollar

After the victory of the All Progressives Congress candidate General Muhammadu Buhari in presidential poll, the naira commenced to stabilize. It appreciated by 7% to 211 against the United States dollar at the parallel market. Nigeria’s currency, which sold for 228 against the dollar before the poll, rose to 211 on Wednesday, Bureau de Change… Read More Naira Rises Against Dollar

bigilajamesLeave a comment

CBN under pressure to devalue naira again

DEVELOPMENTS in the foreign exchange market are putting the Central Bank of Nigeria under intense pressure to further devalue the naira. The currency has been experiencing free fall since November 25, 2014 when the          CBN Monetary Policy Committee devalued it by eight per cent from 155 to 168 against the United States dollar. Following… Read More CBN under pressure to devalue naira again

bigilajamesLeave a comment