Naira Continues Depreciation Against Dollar at Official Foreign Exchange Market

Naira continues depreciation against dollar at official foreign exchange market

The naira continued to depreciate against the dollar at the official foreign exchange market on Thursday. This is the case following a marginal drop in

Spraying, stamping on Naira illegal

The Executive Chairman of the Economic and Financial Crimes Commission, Mr. Ola Olukoyede, has called on Nigerians to stop abusing the naira, warning that acts such as spraying and stamping on the national currency are not cultural practices but punishable offences under the law.Olukoyede made the remarks on Friday in Lagos during a stakeholders’ sensitisation programme.Describing the naira as “a symbol of our sovereignty,” the EFCC boss express…

Naira Strengthens in Black Market, Closes at N1,525/$1 - Tech

The naira appreciated in the black market on Thursday, closing at N1,525/$1, up from N1,535/$1 the previous day. The dollar buying rate stood at N1,525/$1, while selling was at N1,530/$1. For the British pound, the buying rate was N2,110/£1, while it sold for N2,135/£1. The euro sold at N1,795/€1, with a buying price of N1,770/€1. However, in the Nigerian Foreign Exchange Market (NFEM), the naira weakened slightly, closing at N1,533/$1, compared…

Black Market Dollar To Naira Exchange Rate Today 18th July 2025

Black Market Dollar To Naira Exchange Rate Today 18th July 2025. Naira continues to struggle as forex scarcity worsens nationwide. CBN maintains official rate, but black market remains dominant option. The exchange rate between the naira and the United States dollar continues to fluctuate at the parallel market, as Nigeria’s currency weakens further amid persistent […] The post Black Market Dollar To Naira Exchange Rate Today 18th July 2025 appe…

Buhari’s Naira Redesign Caused a Cash Scarcity. It Ruined My Relocation Plans and Left Me in Debt

In November 2022, former President Muhammadu Buhari authorised the launch of redesigned naira notes to help the Central Bank design and implement better monetary policy objectives and enrich the collective memory of Nigeria’s heritage. But that single decision disrupted the daily lives of millions of Nigerian citizens, with the cash scarcity effects harsher on some than others.  Mandy* (29) knew her life was going to change in 2023 — she had bee…

Stock Market soared in Naira, sank in dollars during Buhari’s tenure

For investors, the 8 years under Buhari were a mixed bag. Trillions of naira gained, and billions of dollars lost. The NGX’s total market capitalization; an indicator of the size and performance of the capital market, gained N17.18 trillion or 147% during the 8-year period. However, when adjusted for exchange rate depreciation, the market declined […] The post Stock Market soared in Naira, sank in dollars during Buhari’s tenure  appeared first o…