Naira – TheNewsGuru https://thenewsguru.com Africa's fastest growing news platform Fri, 19 Jun 2020 05:41:08 +0000 en-US hourly 1 https://thenewsguru.com/wp-content/uploads/2020/03/cropped-ico-tng-32x32.jpg Naira – TheNewsGuru https://thenewsguru.com 32 32 Naira depreciated by N24 to N385/$ https://thenewsguru.com/nigeria-news/naira-depreciated-by-n24-to-n385/ Fri, 19 Jun 2020 05:41:08 +0000 http://www.thenewsguru.com/?p=258860 Naira depreciated by N24 to close at N385 per dollar on Thursday at the official market. It had exchanged at N361 to a dollar on Wednesday as demand pressure intensified. The pressure on the Naira was heightened after news of the Federal Government’s plan to adopt a flexible exchange rate broke. The International Monetary Fund […]

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CBN clears air on alleged Naira devaluation https://thenewsguru.com/news/cbn-clears-air-on-alleged-naira-devaluation/ Sun, 22 Mar 2020 05:25:41 +0000 http://www.thenewsguru.com/?p=242242 The Central Bank of Nigeria has reacted to news it has devalued the Naira by as much as 15 percent, moving it from the official price of N307 to N360 and also adjusting the import and export window price from N360 to N380. In a tweet on Saturday night, the bank deployed semantic obfuscation to […]

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CBN bows to pressure, technically devalues Naira by 15% https://thenewsguru.com/nigeria-news/cbn-bows-to-pressure-technically-devalues-naira-by-15/ Fri, 20 Mar 2020 22:03:11 +0000 http://www.thenewsguru.com/?p=242045 The Central Bank of Nigeria (CBN) may have finally bowed to immense pressure from various quarters to devalue the Naira. Few days ago, there were speculations that the central bank would devalue the local currency, following crash in the prices of crude oil at the global market and steep decline in the foreign reserves. This […]

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Naira Loses 25 Kobo at Investors Window, Trades N362.77/$ https://thenewsguru.com/business-news/naira-loses-25-kobo-investors-window-trades-n362-77/ Sat, 05 Oct 2019 12:16:27 +0000 https://www.thenewsguru.com/?p=213994 The week ended on Friday, October 4, 2019 bearish for the local currency at the Investors and Exporters (I&E) segment of the foreign exchange market. Going by data sourced from the FMDQ, the Naira depreciated on Friday against the Dollar by 25 Kobo or 0.07 percent to trade at N362.77/$1 compared with N362.52/$1 recorded on […]

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Desist from abusing Naira notes, CBN warns Nigerians https://thenewsguru.com/nigeria-news/desist-abusing-naira-cbn-warns-nigerians/ Thu, 11 Jul 2019 16:03:11 +0000 https://www.thenewsguru.com/?p=199267 The Central Bank of Nigeria (CBN), has appealed to Nigerians to stop defacing the naira, describing it as a national identity and symbol, which must be kept neat. Dr Isaac Okorafor, the CBN Director of Corporate Communication, made the appeal at a programme tagged “CBN Fair’’ on Thursday in Osogbo. Okorafor said the way and […]

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Rejoinders: Can CBN save the Naira and save Nigerians?, By Henry Boyo https://thenewsguru.com/business-news/rejoinders-can-cbn-save-the-naira-and-save-nigerians-by-henry-boyo/ Mon, 08 Jul 2019 05:51:13 +0000 https://www.thenewsguru.com/?p=198653 Henry Boyo Public rejoinders to newspaper columns and opinions may often provide useful feedback on how well the message is understood by the reading public. Evidently, not every critic of an article will find the time or inclination to send rejoinders which may serve as a barometer for the understanding between the reading public and […]

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Can CBN save the Naira and Nigerians?, By Henry Boyo https://thenewsguru.com/business-news/can-cbn-save-naira-save-nigerians-henry-boyo/ Mon, 01 Jul 2019 05:34:47 +0000 https://www.thenewsguru.com/?p=197309 The Naira exchange rate has suffered severe battering in recent times and depreciated from N90=$1 (PM) in 1999 to about N197=$1 in 2014, even when our national experience, clearly suggests a close correlation between deepening poverty and weakening Naira exchange rates. Evidently, the unyielding Youth exodus from Nigeria, and the mass migration of skilled professionals […]

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The Wrong Way To Defend The Naira, By Henry Boyo https://thenewsguru.com/business-news/wrong-way-defend-naira-henry-boyo-2/ Mon, 24 Jun 2019 05:44:32 +0000 https://www.thenewsguru.com/?p=196071 By Henry Boyo A report on Page 33 of the Punch Newspaper edition of June 21st 2019 has indicated that “between April 2018 and March 2019, the Central Bank of Nigeria injected over $42.3bn into the foreign exchange market to ensure liquidity in that segment of the economy.” In the same report, Isaac Okorafor, CBN’s […]

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“Free-floating the Naira is disobeying the Law” – CBN, By Henry Boyo https://thenewsguru.com/business-news/free-floating-naira-disobeying-law-cbn-henry-boyo/ Mon, 17 Jun 2019 06:03:32 +0000 https://www.thenewsguru.com/?p=194912 The title above is from Tuesday, June 11th edition of the Daily Independent Newspaper. In the related report, CBN Governor, Godwin Emefiele, engaged stakeholders, at an interactive session in Lagos, on why he has rebuffed the incessant calls by some ‘experts’ to deregulate and float the Naira exchange rate, as a product of  the actual market dynamics […]

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Why we can’t allow Naira float freely against other currencies – Emefiele https://thenewsguru.com/nigeria-news/why-we-cant-allow-naira-float-freely-against-other-currencies-emefiele/ Sun, 09 Jun 2019 05:29:10 +0000 https://www.thenewsguru.com/?p=193716 The Central Bank of Nigeria (CBN) vowed on Saturday to sustain its policy of defending the naira against world currencies for the next five years. It said the policy is backed by the CBN Act. Speaking at a Consultative Roundtable with the CBN Governor tagged: ‘Going for Growth’ held in Lagos, Governor of the apex […]

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