Fuel Subsidy Could Have Reached N53tn, Naira N3,500/$ Without Removal, NRS Chairman Says
The Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has said Nigeria’s petrol subsidy bill could have risen to ...
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Tag: #Naira
Nigeria’s FX Inflows Hit Five-Month High at $4.36bn as CBN Intervention Boosts Supply
Nigeria’s foreign exchange market recorded its strongest inflows in five months in July, supported by increased intervention from the Central ...
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CBN Warns Against Naira Abuse, Launches Ambassadors Club to Promote Proper Currency Handling
The Central Bank of Nigeria (CBN) has expressed concern over the growing abuse of the naira, warning that the defacing, ...
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Naira Edges Higher Against Euro Amid Improved FX Stability and CBN Policy Support
The Nigerian Naira recorded a slight appreciation against the Euro in the fourth trading session of the week, according to ...
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Naira Holds Steady at N1,361/$ as CBN Interventions Support Currency Stability
The Nigerian naira recorded relatively stable trading movements in the first half of the week, settling at around N1,361 to ...
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Naira Holds Steady at ₦1,373/$ as Forex Market Maintains Stability
The naira remained stable against the United States dollar on Wednesday, according to the latest available data from the Central ...
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CBN Survey: Businesses Expect Gradual Naira Recovery Despite Economic Pressures
Nigeria’s businesses expect the naira to gradually strengthen against the United States dollar in the coming months, even as high ...
Read moreCBN Mops Up N4.48 Trillion in Liquidity as Banking System Cash Balances Fall Sharply
The Central Bank of Nigeria has withdrawn a total of N4.48 trillion from the banking system within two sessions over ...
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Forex Volatility Worsens as Black Market Pressure Widens Gap with Official Exchange Rate
Volatility in Nigeria’s foreign exchange market has been linked to fiscal leakages, speculative trading and arbitrage activities, as the gap ...
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Bonny Light Hits $120 as Naira Faces Pressure Amid US-Iran Tensions
Crude oil prices surged this week due to the ongoing US–Iran conflict, with Bonny Light crude reaching $120 per barrel. ...
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