Tag Archives: Naira

Cash Crunch: Alimosho PRP Rep Candidate Calls For Calm

Boniface Okparaku

The People’s Redemption Party (PRP) candidate for the Federal House of Representatives, Alimosho Federal Constituency, Hon. Boniface Okparaku, has called for calm in the wake of protests over the naira redesign policy. Okparaku made the appeal in an interview with newsmen   on Saturday in Lagos. Some demonstrators took to the streets to protest the hardship being faced due to …

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CBN Debunks Ordering Banks To Collect Old N1,000, N500 Notes As Lagos Boils


The Apex bank, the Central Bank of Nigeria (CBN) has debunked an earlier report on Friday that it has ordered banks to start collecting the old N1,000 and N500 notes from the public with immediate effect. The earlier report also said, the CBN has pegged the maximum amount banks can collect at N500,000 only. A source from the bank aw …

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$210m Forex Injection Lifts Naira

Monetary Policy Rate

The Central Bank of Nigeria (CBN) yesterday injected $210 million, to meet customers’ requests in various segments of the foreign exchange market. The CBN, in its quest to meet customers’ needs in the various segments of the market offered $100million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got boosted …

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Naira To Remain Stable On CBN Interventions

The naira is expected to remain stable against the United States dollar in coming weeks as the Central Bank of Nigeria continues to intervene in the foreign exchange market. The CBN on Wednesday injected $210m into the foreign market, about a week after it injected $200m into the market. Analysts and forex traders said the naira would likely remain stable …

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Naira suffers marginal loss against US Dollar

The Naira on Friday suffered marginal loss against the US Dollar at the parallel market in spite of CBN’s intervention at the foreign exchange market, vanguardngr.com has reported. The Nigerian local currency lost one point to exchange at N366, weaker than N365 traded on Thursday, while the pound sterling and the Euro closed at N468 and N412, respectively. At the …

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Naira appreciates against dollar at parallel market

The Naira on Monday appreciated against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports. The Nigerian currency gained three points to exchange at N388 to the dollar, stronger than N391 it traded on Friday, while the pound sterling and the Euro closed at N495 and N425. At the Bureau De Change (BDC) window, the Naira …

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