Chinese Traders Accept Naira in Place of Dollars as Swap Deal Boosts Stability
Forex traders link recent naira stability to China-Nigeria swap agreement. Peer-to-peer currency trades also helping ease dollar demand. Importers from China increasingly settling deals directly in yuan. Nigeria’s foreign exchange…
Naira Falls Against Dollar as Traders Blame Diversion, Government Payouts
Naira drops to N1,560/$1 at black market, N1,532.51/$1 official. Traders blame contractor payments, weak supply, and diversion of remittances. CBN inflows and reduced panic-buying provide temporary support. The naira has…
Naira Records Slight Appreciation Against Dollar at Official Market
The naira strengthened marginally to N1,534.52 against the dollar at the official market on Thursday. Day-to-day gain recorded at 0.3 from Wednesday’s N1,534.83. Black market rate remained unchanged at N1,565…
Senate Rejects Bill Seeking to Regulate Forex Market in Nigeria
The Senate has rejected a bill seeking to monitor and regulate the Forex Exchange and Foreign Exchange market in Nigeria. The bill, sponsored by Senator Sani Musa (APC, Niger…
