PM News Nigeria

Nigeria’s capital imports crash by 74% in first quarter

President Muhammadu Buhari

The total value of capital imported into Nigeria in the first quarter plunged to $710.97 million, a 73.79 per cent decline from the same quarter a year ago, the National Bureau of Statistics said on Wednesday. Nigeria, Africa’s biggest oil exporter, has been hit by its worst economic crisis in years, as low prices for […]

Australian Craig Wright says he invented Bitcoin

Craig Wright claims he invented Bitcoin

Australian entrepreneur Craig Wright has publicly identified himself as Bitcoin creator Satoshi Nakamoto. His admission ends years of speculation about who came up with the original ideas underlying the digital cash system. Mr Wright has provided technical proof to back up his claim using coins known to be owned by Bitcoin’s creator. Prominent members of […]

Naira depreciates further against the dollar

Nigeria's currency, the naira

The Naira on Friday depreciated further, exchanging at N321.5 to the dollar at the parallel market, losing N1 on Friday afternoon, from the N320.5 to a dollar it traded on Wednesday. However, it traded against the Pound Sterling and the Euro at N460 and N463. It had previously exchanged at N457 and N361 respectively on […]

Naira exchanges at N320 to dollar at parallel market

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The Naira on Monday exchanged at N320 to a Dollar at the parallel market in Lagos State. The News Agency of Nigeria (NAN) reports that the value of the Naira on Monday afternoon remained the same as its rate at the weekend. However, it traded against the Pound Sterling and the Euro at N450 and […]

Naira sells at N322 to dollar at parallel market

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The Naira on Monday, traded at N322 to a dollar at the parallel market in Lagos. The News Agency of Nigeria (NAN) reports that the currency was stable in the previous week, maintaining value of between N315 and N320 to a dollar. However, the naira traded at N450 and N360 for Pound Sterling and the […]

FG plans on yuan forces dollar rate down – Gwadabe

Aminu Gwadabe, President, Association of Bureau de Change Operators in Nigeria

The President, Association of Bureau De Change Operators of Nigeria, Mr Aminu Gwadabe said the Federal Government’s plan to increase the availability of renminbi (yuan) is already favouring the naira against the dollar. Gwadabe said in an interview with NAN on Saturday in Abuja that since the announcement, the naira had appreciated by N10 against […]

Nigeria has not applied for an IMF loan – Adeosun

Kemi Adeosun, Nigeria's Finance Minister

Nigeria, which is going through its worst economic crisis in years, has not turned to the International Monetary Fund (IMF) for financial assistance because it is “not sick”, its finance minister said. Africa’s top oil exporter, which has the continent’s biggest economy, has been hit hard by the fall in crude prices since oil sales […]

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