Browsing: Naira

The naira decreased slightly on Wednesday at the official market, and it was valued at N1,421.06 for one dollar. Information from the FMDQ Exchange's official trading platform, which manages the Nigerian Autonomous Foreign Exchange Market, indicated that the naira reduced by N4.49. This shows a 0.31 per cent decrease compared to the previous trading […]

Contrary to the report circulating on X (formerly Twitter), Bureau De Change operators denied the claim that the dollar is now being sold at N1,000 at the parallel market. There are reports on X that the dollar is now being sold at N1,000 in Abuja. The X post read, “This morning, […]

The Oluwo of Owo, Oba Abdulrosheed Akanbi, has dared rich Nigerians to show love for their country by selling the dollars they have. Oba Akanbi, who blamed the naira-dollar exchange rate increase on the shortage of foreign currency in the market, alleged that Nigerians were hoarding dollars to create artificial scarcity.

President Bola Tinubu urged Nigerians to buy made-in-Nigeria products and services to maintain the recent gains of the naira in the foreign exchange market. He said the recent increase in the value of the naira against the dollar does not mean everything is fine. Therefore, he called for more cooperation from citizens.