The naira, which has been depreciating against major currencies for the past two weeks, has made a comeback in the parallel market, registering gains. Recall that the Nigerian currency touched an all-time low of almost N850 per US dollar on the black market shortly after the Central Bank of Nigeria (CBN) announced intentions to redesign... Read More

bureau de change, dollar, Dollar crashes, naira, parallel market

April 25, 2017

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CBN must eliminate multiple exchange rates – Soludo

Former governor of the Central Bank of Nigeria (CBN), Charles Soludo has called on the Federal Government to scrap the multiple exchange rates in the country. Soludo, who was the Chairman of the Economic Discourse organised by the Institute of Chartered Accountants of Nigeria, spoke in Lagos while fielding questions from journalists shortly after the... Read More

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CBN, Charles Soludo, exchange rates, parallel market, wide gap

September 28, 2016

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The Thread: Help, economic terrorists are killing the naira

Investment analyst, Manasseh Egedegbe, who tweets @knightofdelta is worried about where Nigeria’s economy is going. We all should be: the naira is currently trading at 445 to the dollar at the parallel market. Could there be a correlation between the end of Niger Delta Avengers ceasefire with the Nigerian government and the further plunge in our naira... Read More

Brexit, dollar versus naira, economy, Niger Delta Avengers, parallel market, pmb

September 7, 2016

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Opinion: Who parallel market epp?

by Olamide Eyinla The main topic today in Nigeria is the value of the Naira. Sometime in June 2016, the Naira was floated to reflect its true value as the government ran out of resources to maintain her defence of the artificial value of the naira. Ceteris paribus, this decision would lead to the eventual... Read More

CBN, devaluation, foreign exchange, naira, Nigerian customs, parallel market

ECOWAS Activates Standby Force in Response to Niger Coup; Increased Petrol Price Fears Intensify as Naira Dips in Parallel Market | 5 Things That Should Matter Today

Dollar falls to N730 at parallel market; Hoarders of naira notes purchasing dollar bills from BDEs

CBN must eliminate multiple exchange rates – Soludo

The Thread: Help, economic terrorists are killing the naira

Opinion: Who parallel market epp?

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