Thursday, April 3, 2025

Naira Depreciates Despite CBN’s Efforts

The Naira’s value has continued to “free fall” against the Dollar, despite efforts by the Central Bank of Nigeria to stabilize it.

Data from FMDQ shows the Naira declined from “N1508.99 on Monday to N1509.45 against the Dollar on Tuesday”, indicating a “N0.46 loss”.

READ MORE: Supreme Court In Texas Prohibits Medical Treatment For Transgender Children

Yesterday, the parallel market saw the Naira trade at “N1515 against the Dollar”, while the official FX market recorded a “FOREX transactions turnover of $213.31 million”.

This development comes after the Central Bank of Nigeria warned banks and licensed Bureau De Change operators to accept “all denominations of Dollar notes, including lower and older ones”.

Hot this week

WAG Urges Women To Strategise For Greater Representation In Governance

Founder Women Aligned for Growth (WAG), Dr. Ifeyinwa Nwakwesi...

Stark Pages Initiative Launches Literary Students Program to Inspire Young Writers

The Stark Pages Creative and Literary Arts Initiative, a...

Ozoya Football Foundation Kicks Off a New Era with Charitable Initiative in Edo State

The Ozoya Football Foundation is making waves in Nigerian...

After Two Years of War, Sudan’s Military Secures Key Victory in Khartoum

Sudan’s military has recaptured the Republican Palace in the...

29 Internet Fraudsters Jailed in Benin as Nigeria Deepens Cybercrime Crackdown

Justice has caught up with 29 internet fraudsters in...

Fuel Prices Set to Rise in Nigeria as Dangote Refinery Halts Naira Sales

Nigerians could soon face higher fuel prices after the...

Related Articles

Popular Categories