PM News Nigeria

Naira hits new low, now N241 for $1


LAGOS, (Reuters) – The naira has hit a new low against the dollar in the black market. It sold for N241 to a dollar on Monday, as importers banned from accessing hard currency at the official interbank market by the central bank three weeks ago scramble for hard currency in the unofficial market, a Nigerian […]

Naira woes continue, falls N232 to US dollar


Nigeria’s currency was quoted at a record low of 232 naira to the dollar on the parallel market on Monday down from 230 naira on Friday, traders said. The naira has been under the ropes on the black market after the central bank two weeks ago curbed access to the dollar on the official interbank […]

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 […]

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