PM News Nigeria

Naira sells at N224 to dollar

Naira bundles: dollar rate now N208, despite CBN intervention

The Naira on Friday weakened further as it sold at N224 against the dollar at the Bureau de Change (BDC). NAN reports that the Naira also exchanged against the dollar at N220 at the black market. But, the currency traded N199 to a dollar at the Central Bank of Nigeria (CBN). The currency, however, gained […]

FG, States, LGs share N500.1bn for January

Minister of State for Finance, Mr Bashir Yuguda

The Minister of State for Finance, Mr Bashir Yuguda, said that the Federal, states and local government areas shared N500.1 billion revenue for the month of January, 2015. Yuguda made this known when he briefed newsmen on the outcome of the Federation Accounts Allocation Committee (FAAC) meeting in Abuja on Tuesday. He said that the […]

Senate reduces oil benchmark to $52

Senator President, David Mark

The Senate on Tuesday, reduced the oil benchmark from 65 dollars to 52 dollars. NAN reports that this is the outcome of a closed-door meeting of the Senate in Abuja on Tuesday. A source, which did not want to be identified, said the reduction was due to the dwindling oil prices in the international market […]

Naira hits N215 to dollar at BDC’s segment

Naira bundles: dollar rate now N208, despite CBN intervention

The naira on Friday depreciated by N5 to the dollar as it traded N215 at the Bureau De Change (BDCs) segment of the official market. It also depreciated by N7 at the black market, selling at N217 to the dollar. A dealer, who preferred anonymity, told NAN in Lagos that the depreciation might be due […]

Poll shift affects naira, stock exchange

Dealers at the Nigeria stock Exchange

The postponement of Nigeria’s general election has hit the country’s faltering economy, adding to existing pressures caused by the global fall in oil prices, analysts said. The six-week suspension was granted to give the military more time to secure and stabilise the northeast, which has been under assault by Boko Haram Islamists since 2009. But […]

Naira crashes to record low

Naira bundles: dollar rate now N208, despite CBN intervention

The Nigerian currency, the naira hit a new record low on Tuesday on thin dollar liquidity, amid concerns over political stability after a six-week delay to Nigeria’s presidential election. The naira was quoted at a record low of 197.3 to dollar by market open and quickly fell to 198.95 by 0822 GMT. Nigeria’s electoral commission […]

Nigeria’s Naira slumps 0.75 %, exchanges N194 to $USD

Naira bundles: dollar rate now N208, despite CBN intervention

Nigeria’s naira fell 0.75 percent in volatile trades against the dollar shortly after the forex market opened as demand for the greenback surged amid thinning liquidity, dealers said. The naira, which opened at 192.70 to the dollar, quickly hit a record low of 194.30. It closed within a range of 190.10 to 192.40 the previous […]


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