Buhari, Emefiele Move To Crash The Dollar, Sign Landmark Currency Deal With China
LAGOS APRIL 13TH (URHOBOTODAY)-President Muhammadu Buhari and Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele moved closer to actualizing their promise to strengthen the naira against the United States More...
Nigeria’ll Not Accept Dictate of IMF, Devaluation of Naira-Buhari Vows
Buhari LAGOS MARCH 6TH (URHOBOTODAY)-President Muhammadu Buhari has insisted that Nigeria will not be dictated to by the International Monetary Fund (IMF) or any external force in the way it runs its economy. Nigeria, More...
Naira Appreciates, Now N199.06k to Dollar
LAGOS MARCH 4TH (URHOBOTODAY)- – The naira appreciated in value against the dollar at the interbank foreign exchange (FX), while closing stable at the autonomous and parallel market on Thursday. The naira gained More...
Dollar Crashes to 290 against the Naira
LAGOS FEBRUARY 24TH (URHOBOTODAY)-The Naira rose by 20 per cent on Wednesday against the dollar at the parallel market to 290 from 375, which it traded on Monday. The naira had been on a free fall in the last two More...
Ifeanyi Ubah Vows to Restore Naira to N200/ $ Within a Month If…….
Ifeanyi Ubah LAGOS FEBRUARY 22ND (URHOBOTODAY)-As the nation’s currency exchanges at N400 to the US dollar on Sunday, Billionaire business mogul has said that if the Buhari-led federal government consults him, More...
Naira Crashes Again, Sells at N310 to Dollar
LAGOS FEBRUARY 5TH (URHOBOTODAY)-The Naira has depreciated further at the parallel market amid expectations of an intervention by the apex bank in the foreign exchange market. The Naira on Friday afternoon exchanged More...
Nigeria Flirts With Economic Disaster as Currency Controls Stay
LAGOS JANUARY 27TH (URHOBOTODAY)-Central bank Governor Godwin Emefiele on Tuesday resisted calls — again — to weaken the currency despite a plunge in oil prices that’s slashed revenue in Africa’s More...
Naira in Free-Fall, Sells N280 to $1 at Parallel Market
LAGOS JANUARY 11TH (URHOBOTODAY)-The Nigerian currency on Monday depreciated further at the parallel market, following implementation of the Central Bank of Nigeria’s downward review of foreign exchange sales More...
A Brief History of the Fall and Fall of Nigeria Naira
LAGOS DECEMBER 6TH (URHOBOTODAY)-Since 1986, the Nigerian naira’s relationship with the US dollar (and other foreign currencies) has been erratic, (un)predictable, violent and full of heartbreak and tears. The More...
Nigeria’s Currency Slumps to Record Low on Black Market
LAGOS DECEMBER 5TH (URHOBOTODAY)-The exchange rate used by Nigeria’s money-changers weakened below 250 naira per dollar for the first time on Friday as pressure builds on the central bank to devalue the local More...
Nigeria Reserves Dip Below $30bn for First Time Since July
LAGOS DECEMBER 3RD (URHOBOTODAY)-Nigeria’s foreign reserves dropped below $30 billion for the first time in more than four months, putting more pressure on the central bank’s bid to defend the naira and avoid More...
Nigeria’s Economy Defying Currency Critics Chokes Growth
LAGOS OCOBER 30TH (URHOBOTODAY)-Nigeria’s economy is growing at the slowest pace this decade as oil prices drop. Companies are complaining they can’t get the dollars they need to do business. And trading in More...
Oando Records Loss of N184bn in 2014… N35bn Loss for Half-Year 2015
LAGOS OCTOBER 27TH (URHOBOTODAY)-Oando Plc last Friday finally released its long-awaited results for the full-year ending 2014, in which it declared a historic loss after tax of N183.9 billion compared to a profit More...
IMF Press Nigeria to Further Devalue Naira Currency
LAGOS OCTOBER 22ND (URHOBOTODAY) — The IMF is pressing Nigeria to further devalue its naira currency amid uncertainty over the political and economic outlook for Africa’s biggest oil producer and economy. Analysts More...
Nigeria’s Central Bank Governor Defends Decision not to Further Devalue Naira
LAGOS OCTOBER 6TH (URHOBOTODAY)-Nigeria’s central bank governor has defended his decision not to further devalue the naira despite the pressure on the currency of Africa’s top oil producer amid the global price More...
Is Buhari and APC Really Ready To Change Nigeria?
By Niran Adedokun LAGOS SEPTEMBER 24TH (URHOBOTODAY)-It is true that the President Muhammadu Buhari administration has just spent a negligible four of its 48 months term. I understand that this period represents More...
Buhari Rules Out Further Devaluation of Naira, Says its Unhealthy for the Economy
Buhari LAGOS SEPTEMBER 16TH (URHOBOTODAY)-President Muhammadu Buhari on Wednesday ruled out further devaluation of the naira, saying it is unhealthy for the economy to devalue the currency further. Nigeria has been More...
Central Bank of Nigeria, a Monster House of Corruption
By Femi Ayeni LAGOS JUNE 30TH (URHOBOTODAY)-The Central Bank of Nigeria [CBN] under the leadership of Godwin Emefiele last week disclosed that it spent over 290billion Naira for its over heads, salaries, traveling, More...
Okonjo-Iweala Warns Her Successor of Tough Year Ahead
Okonjo-Iweala LAGOS JUNE 5TH (URHOBOTODAY)-Nigeria’s former Finance Minister Ngozi Okonjo-Iweala said her successor will face a “difficult” year because of plunging oil revenues and the economy needs expert More...
Anambra State Restaurant Shut Down for Selling Human Flesh
LAGOS MAY 16TH (URHOBOTODAY)-A hotel restaurant in Anambra, Nigeria has been shuttered by authorities for serving human flesh. According to the BBC, suspicious residents told police of rumors that the restaurant More...
Nigeria Borrows Money to Pay Government Salaries-Okonjo-Iweala
Okonjo-Iweala LAGOS MAY 6TH (URHOBOTODAY)-Africa’s richest economy is borrowing money to pay salaries as it struggles through a “difficult cash crunch” brought on by halved oil prices, Nigeria’s More...
How Politicians Demand for Dollar Affect Nigerian Exchange Rate
LAGOS FEBRUARY 25TH (URHOBOTODAY)-Some Bureau De Change Operators, BDCs, in Abuja have attributed the high demand for dollars by Nigerians, especially politicians, to the cause of the high exchange rate witnessed More...