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Dollar to Naira black market rate today Wednesday, 26th April 2017

The Dollar to Naira black market rate today Wednesday, 26th April 2017 is N383/N390.  The Exchange rate of dollar to naira has seen the naira have mixed fortunes over the last couple of weeks. Earlier in the year 1 usd to ngn black market rate was as high as N500/N520. However, the naira exchange rate […]

Naira exchange rates: Naira Reversing Gains Under Pressure From Latent Demand

According to an economist, Bismarck Rewane, with the return of latent Dollar to the market, the black market Naira is running out of steam. There was a time when the Naira exchange rates were so high. At that time, 1 USD to NGN black market was around N480-500/$, and this made businesses crumble because the […]

Why CBN should stop controlling Naira exchange rates

With the continuous dramatic rise and fall of the Naira exchange rates, and also with the unfavorable condition of the economy, many economists and experts have advised the Central Bank of Nigeria (CBN) to allow the Dollar to Naira black market rates be determined by the forces of demand and supply. One of such experts […]

Naira exchange rates: Economic Recession Impacting More On Sector’s Growth

The recession is hitting the economy hard, making the Naira exchange rates unstable and also causing low patronage of insurance products, according to The Nigerian Council of Registered Insurance Brokers (NCRIB). At the 2017 first quarter press conference organized in Lagos by the council, the president of NCRIB Kayode Okunoren, said that the recession is […]

Expert Says CBN Intervention In FX Market Will Revive the Naira exchange rates and the Economy at large

A financial expert, Abdul-Ganiyu Dairo, says the Central Bank of Nigeria’s intervention in the Naira exchange rates is a step which would revive the economy of the Nation, make the Dollar to Naira black market rates favor the Naira, and also make prices stabilized. He noted that the big bank would achieve its plans of […]

Naira exchange rates Remains Stable As CBN Injects $250m For Airline, Petroleum, Others

On Wednesday, Naira exchange rates traded across the foreign exchange market stably, and this was due to the Central Bank of Nigeria’s (CBN) intervention, pumping lots of Dollars into the Dollar to Naira black market and also the exchange rate market. The central bank injected a total of $250 million into the Naira to Dollars […]

Naira exchange rates: Food Price Stability Pushes Inflation Down To 17.26% In March – NBS

The NBS, National Bureau of Statistics stated that there was a drop inflation rate to 17.26% in March, and this was because of the influence of the recent appreciation of Naira exchange rates, and also the stability of the prices of goods and services that is high already. There have been recent decline of inflation […]

Naira exchange rates: Update 1 World Bank Lists Conditions To Release $1bn Funding For Nigeria’s Power Sector

According to reports, cooperate governance from power sector operators should be enforced by Nigeria, making a definite policy statement on tariff. This is to ensure that there is discipline in the market and also develop a coherent strategy to put an end to terrorism so as to ensure that the $1billion funding it needs from […]

Naira exchange rates: Nigeria Loses $29.3bn Yearly To Inadequate Power Supply

Because of the inadequate power supply Nigerians are facing, Naira exchange rates, and also the economy of the nation is suffering. Currently, according to the draft document of the Power Sector Recovery Program (PSRP), it is estimated that $29.3 billion is lost yearly. This is disturbing to the economy and greatly affects the Dollar to […]

The rising call to look beyond oil to stabilize Naira exchange rates

A forum was organized to critically look into the macroeconomic state of the nation, and how the Naira to Dollar today and the Naira exchange rates policies affects citizens. Analysts at this forum called on the government to diversify the economy. With the current challenges the economy is facing and with the current Dollar to […]

Naira exchange rates: OPEC’s Renewed Efforts to Stabilize Oil Prices

The secretary general of OPEC, Mohammad Barkindo’s  crude oil production freeze agreement has been largely successful in reshuffling the oil market. Barkindo, at a Baghdad forum, stated that crude stockpiles were beginning to decline, and this was bringing the market to balance. At the forum, he said that with the decision to freeze production levels, […]

Naira exchange rates: CBN To Raise Dollar Supply To BDCs To $40,000 Weekly

In a bid to stabilize the Naira and influence the Naira exchange rates, the Central Bank of Nigeria (CBN) has made a resolution to increase the Dollar supply to the Bureau De Change (BDC) operators to $40,000 weekly, starting from next week. This increase is from the $20,000 it sold this week to the Dollar […]

Naira exchange rates: EFCC uncovers $43.4m kept in Lagos flat

On Wednesday, in Lagos, the Economic and Financial Crimes Commission (EFCC) discovered another stockpile of foreign currencies mixed with some Naira notes. After the discovery, the EFCC counted the monies it discovered, and it totaled an unbelievable sum of $43.4 million, £27,800 and N23.2 million. The EFCC released the figures on its official Facebook page. […]

Naira exchange rates: why the Dollar isn’t a one-way bet on strength

Highlights: Experts have different opinions about the direction of the Dollar. Some expected that the greenback would be supported by the expectations of Fed hikes and continued geopolitical risks. Others are of the opinion that Trump’s agenda may flounder.     We all know that the Dollar to Naira black market exchange rate influences Naira […]