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Naira strengthens further as demand moderates

todayAugust 4, 2022

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Nigeria’s currency, naira, on Wednesday strengthened further across foreign exchange market following a moderation in demand for dollars and slight improvement in supply. After trading on Wednesday, naira closed at N640 per dollar, gaining 3.12 percent over N660 closed on the previous day at the parallel market popularly called the black market. “There is enough […]

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LAST week, Nigeria’s finance minister Zainab Ahmed provided an honest and succinct assessment of the country’s financial position in which she said Africa’s most populous nation has been spending more on debt servicing than it was earning. Days later, the Economist Intelligence Unit, EIU said Nigeria had attained another dubious ranking with its debt service read more Nigeria’s economy falls off the cliff, but it didn’t have to be so

todayAugust 4, 2022

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