Naira depreciated against the dollar at the Investors and Exporters (I&E) window.
This move portends significant implications for Nigeria's public and private sector.
“As a nation, we cannot afford to continue relying on the world for our food, education, and healthcare.” said Godwin Emefiele.
Nigeria’s 5 years onshore Non-Deliverable forward contract posted its biggest drop by plunging 27% from N413.36 to close at N569.69.
The outbreak of COVID-19 and the sharp downturn in crude oil prices have continued to stoke fears of a further devaluation in the Naira.
The consistent slide of the naira in the parallel market is a pointer to the fact that CBN may further devalue the naira.
Nigeria’s external debt hits a 16 year high of $27 billion in December 2019 just higher than the $20.8 billion in external debt level as at...
The naira is expected to be under intense pressure from the dollar starting next week, no thanks to Nigeria's poor export earnings due the COVID-19 pandemic.
This could be a sign of what is to happen to the economy this year.
The CBN recently adjusted the rate in the Investors and Exporters Foreign exchange window to N380/USD from the N364 to N370.