Nigeria saw less money outside its banks in July 2024. The amount went down to N3.66 trillion. This is the second time it went down this year.
In June, there was N3.79 trillion outside the banks....
The Manufacturers Association of Nigeria (MAN) wants the Central Bank of Nigeria (CBN) to make it easier for them to get foreign exchange. They are asking to remove many rules that make it hard for manufacturers.
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This week started tough for Nigerian money. The U.S. dollar is doing really well all over the world.
Right now, 1 Nigerian naira (NGN) is very low when you compare it to...
The Nigerian forex (foreign exchange) market is not doing well right now. The amount of money traded every day is very low, almost the lowest since January 2024.
At the same time, the value of the...
In April 2024, Nigeria saw a big jump in money leaving the country. A total of $1 billion left, which was much more than the $740 million from March.
This happened mainly because foreign investors took their money back. They...
The Naira did better against the US dollar in Friday's trading session.However, it didn't do as well against the British pound, which went up a lot because of some news from the Federal Reserve's boss, Jerome Powell. He said...
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On Friday, August 23rd, Jay Powell, who leads the US Federal Reserve, gave a much-awaited speech at the Jackson Hole symposium. He hinted that they might cut interest rates soon.Jay Powell said, “It's time to change our policy,” and...
On Thursday, the naira, Nigeria's money, had mixed results against the dollar.
The dollar, also known as the "greenback," got stronger. It went up because some people started buying it after it had been...
Businesses in Nigeria think the Naira (Nigeria's money) will lose value over the next three months starting from July. But after six months, they believe it will start to get stronger.
This information comes from the...
This Wednesday morning, the Nigerian currency, Naira, stays at N1600 for 1 dollar in the black market. This is happening even though Nigeria's foreign exchange market has seen some good changes, and the dollar is at a low point...
