Naira – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Fri, 27 Feb 2026 12:38:56 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png Naira – InfoStride News https://www.theinfostride.com 32 32 Dangote Refinery Halts Naira-Based Petrol Sales Amid Market Adjustments https://www.theinfostride.com/dangote-refinery-halts-naira-based-petrol-sales-amid-market-adjustments/ https://www.theinfostride.com/dangote-refinery-halts-naira-based-petrol-sales-amid-market-adjustments/#respond Wed, 25 Feb 2026 16:32:24 +0000 https://www.theinfostride.com/?p=467497 The Dangote Petroleum Refinery has temporarily suspended the sale of petrol in naira, a move that has generated intense discussions across Nigeria’s energy and financial sectors. The decision, confirmed by industry sources late Wednesday, marks a major shift in the way the refinery engages with marketers and could have far-reaching implications for fuel supply, pricing, [...]

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]]> https://www.theinfostride.com/dangote-refinery-halts-naira-based-petrol-sales-amid-market-adjustments/feed/ 0 Tinubu Deserves Praise For The Naira Gaining Against The Dollar – Daddy Freeze https://www.theinfostride.com/tinubu-deserves-praise-for-the-naira-gaining-against-the-dollar-daddy-freeze/ https://www.theinfostride.com/tinubu-deserves-praise-for-the-naira-gaining-against-the-dollar-daddy-freeze/#respond Sat, 21 Feb 2026 10:30:42 +0000 https://www.theinfostride.com/?p=478032 Popular OAP and media personality Daddy Freeze has come out to hail President Bola Ahmed Tinubu. This comes following his encounter at the Bureau De Change, having found out about the Naira gain against the Dollar, and Nigerians have been reacting. According to him, the current Naira-Dollar situation is a commendable feat for Tinubu’s administration, [...]

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]]> https://www.theinfostride.com/tinubu-deserves-praise-for-the-naira-gaining-against-the-dollar-daddy-freeze/feed/ 0 Naira Strengthens Against Dollar, Closes Week at ₦1,534.72 https://www.theinfostride.com/naira-strengthens-against-dollar-closes-week-at-%e2%82%a61534-72/ https://www.theinfostride.com/naira-strengthens-against-dollar-closes-week-at-%e2%82%a61534-72/#respond Thu, 22 Jan 2026 23:55:11 +0000 https://www.theinfostride.com/?p=463186 The Naira concluded the week on a more positive note, trading at ₦1,534.72 to the U.S. dollar in the official market—a modest but meaningful improvement from the ₦1,550 average recorded earlier in the week. The currency’s uptick is being attributed to increased liquidity in the foreign exchange market, tighter regulatory oversight, and measured intervention by [...]

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]]> https://www.theinfostride.com/naira-strengthens-against-dollar-closes-week-at-%e2%82%a61534-72/feed/ 0 Dangote Refinery Resumes Petrol Sale in Naira Following Committee’s Intervention https://www.theinfostride.com/dangote-refinery-resumes-petrol-sale-in-naira-following-committees-intervention/ https://www.theinfostride.com/dangote-refinery-resumes-petrol-sale-in-naira-following-committees-intervention/#respond Thu, 22 Jan 2026 23:50:11 +0000 https://www.theinfostride.com/?p=467632 The Dangote Petroleum Refinery has officially resumed the sale of petrol in naira, reversing its earlier decision to suspend transactions in the local currency. This development comes after the intervention of a special committee set up by the federal government to resolve the pricing and operational disagreements that had sparked concerns across the downstream oil [...]

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]]> https://www.theinfostride.com/dangote-refinery-resumes-petrol-sale-in-naira-following-committees-intervention/feed/ 0 Naira Reverses Gains, Depreciates at Official, Parallel Markets https://www.theinfostride.com/naira-reverses-gains-depreciates-at-official-parallel-markets/ https://www.theinfostride.com/naira-reverses-gains-depreciates-at-official-parallel-markets/#respond Tue, 20 Jan 2026 07:32:43 +0000 https://www.theinfostride.com/?p=404945 The naira has lost ground against the dollar, reversing its recent gains in both the official and parallel markets. The local currency, which had shown signs of stability in previous weeks, depreciated amid renewed pressure from forex demand, liquidity concerns, and economic uncertainties. At the official foreign exchange market, the naira weakened as traders and [...]

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]]> https://www.theinfostride.com/naira-reverses-gains-depreciates-at-official-parallel-markets/feed/ 0 Naira Opens Week on a Weaker Note, Trades at ₦1,533/$ https://www.theinfostride.com/naira-opens-week-on-a-weaker-note-trades-at-%e2%82%a61533/ https://www.theinfostride.com/naira-opens-week-on-a-weaker-note-trades-at-%e2%82%a61533/#respond Thu, 25 Dec 2025 10:07:48 +0000 https://www.theinfostride.com/?p=465413 The Nigerian naira began the new trading week on a weaker footing, exchanging at ₦1,533 per United States dollar at the official foreign exchange window. The development underscores persistent volatility in the foreign exchange market despite ongoing reforms aimed at stabilising the currency and boosting investor confidence. Data from the Nigerian Autonomous Foreign Exchange Market [...]

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]]> https://www.theinfostride.com/naira-opens-week-on-a-weaker-note-trades-at-%e2%82%a61533/feed/ 0 NGX Ends Week with Strong Performance, Market Capitalization Gains N425bn https://www.theinfostride.com/ngx-ends-week-with-strong-performance-market-capitalization-gains-n425bn/ https://www.theinfostride.com/ngx-ends-week-with-strong-performance-market-capitalization-gains-n425bn/#respond Thu, 25 Dec 2025 10:06:31 +0000 https://www.theinfostride.com/?p=465814 The Nigerian Exchange (NGX) closed the week on a positive note, buoyed by increased investor confidence and strong demand for equities across key sectors. Market data showed that the bourse recorded a N425 billion gain in market capitalization, reflecting improved sentiment following a spate of corporate earnings releases and continued policy reforms aimed at strengthening [...]

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]]> https://www.theinfostride.com/ngx-ends-week-with-strong-performance-market-capitalization-gains-n425bn/feed/ 0 Naira Sustains Stability Below 1,500/$ For 10 Consecutive Days https://www.theinfostride.com/naira-sustains-stability-below-1500-for-10-consecutive-days/ https://www.theinfostride.com/naira-sustains-stability-below-1500-for-10-consecutive-days/#respond Wed, 24 Dec 2025 13:07:54 +0000 https://www.theinfostride.com/?p=467762 Nigeria’s foreign exchange market has witnessed a rare period of calm as the naira maintained its value below the ₦1,500 per dollar threshold for ten consecutive trading days. The development has been received with cautious optimism by businesses, investors, and policymakers, who view it as a sign of renewed stability in the foreign exchange system [...]

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]]> https://www.theinfostride.com/naira-sustains-stability-below-1500-for-10-consecutive-days/feed/ 0 LCCI Urges Federal Government to Prioritise Naira Stability https://www.theinfostride.com/lcci-urges-federal-government-to-prioritise-naira-stability/ https://www.theinfostride.com/lcci-urges-federal-government-to-prioritise-naira-stability/#respond Wed, 24 Dec 2025 09:12:06 +0000 https://www.theinfostride.com/?p=463065 The Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to place immediate and strategic focus on stabilising the naira, stressing that continued volatility in the foreign exchange market is undermining investor confidence, raising the cost of doing business, and deepening inflationary pressures across the country. In a statement issued by [...]

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]]> https://www.theinfostride.com/lcci-urges-federal-government-to-prioritise-naira-stability/feed/ 0 Naira Slips Slightly in Moderated FX Market Movement to Close at N1,451.86 per Dollar https://www.theinfostride.com/naira-slips-slightly-in-moderated-fx-market-movement-to-close-at-n1451-86-per-dollar/ https://www.theinfostride.com/naira-slips-slightly-in-moderated-fx-market-movement-to-close-at-n1451-86-per-dollar/#respond Tue, 09 Dec 2025 13:29:12 +0000 https://www.theinfostride.com/?p=473168 Nigeria’s foreign exchange market witnessed a mild depreciation of the naira as the local currency closed at approximately N1,451.86 to the United States dollar, reflecting a modest weakening compared to previous trading sessions. The slight movement, according to market analysts, underscores the continuous pressure on the foreign exchange ecosystem despite recent policy adjustments aimed at [...]

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]]> https://www.theinfostride.com/naira-slips-slightly-in-moderated-fx-market-movement-to-close-at-n1451-86-per-dollar/feed/ 0 Naira appreciates to 1,446.74/$ as capital inflows hit $20.98bn https://www.theinfostride.com/naira-appreciates-to-1446-74-as-capital-inflows-hit-20-98bn/ https://www.theinfostride.com/naira-appreciates-to-1446-74-as-capital-inflows-hit-20-98bn/#respond Mon, 01 Dec 2025 17:09:59 +0000 https://www.theinfostride.com/?p=472685 Nigeria’s currency recorded another moment of relief as the naira appreciated to 1,446.74 per dollar, buoyed by a sustained rise in capital inflows and improving investor confidence. The stronger position of the currency comes amid renewed monetary tightening, increased foreign exchange liquidity and greater oversight by financial regulators, all of which have helped create a [...]

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]]> https://www.theinfostride.com/naira-appreciates-to-1446-74-as-capital-inflows-hit-20-98bn/feed/ 0 Naira Reaches 2025 Peak at N1,421/$ Amid Rising Forex Inflows https://www.theinfostride.com/naira-reaches-2025-peak-at-n1421-amid-rising-forex-inflows/ https://www.theinfostride.com/naira-reaches-2025-peak-at-n1421-amid-rising-forex-inflows/#respond Mon, 03 Nov 2025 14:55:48 +0000 https://www.theinfostride.com/?p=470708 The Nigerian naira strengthened significantly in the foreign exchange market, hitting a 2025 peak of N1,421 per dollar on Friday, driven by a surge in foreign exchange supply and renewed investor confidence. This marks the highest value the local currency has attained this year, reflecting the Central Bank of Nigeria’s (CBN) sustained interventions and improving [...]

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]]> https://www.theinfostride.com/naira-reaches-2025-peak-at-n1421-amid-rising-forex-inflows/feed/ 0 CBN Reports Naira Strengthening as FX Speculation Declines, Reserves Climb to $43bn https://www.theinfostride.com/cbn-reports-naira-strengthening-as-fx-speculation-declines-reserves-climb-to-43bn/ https://www.theinfostride.com/cbn-reports-naira-strengthening-as-fx-speculation-declines-reserves-climb-to-43bn/#respond Tue, 21 Oct 2025 14:10:30 +0000 https://www.theinfostride.com/?p=469643 The Central Bank of Nigeria (CBN) has announced a notable rebound in the value of the naira, attributing the currency’s rally to declining foreign exchange (FX) speculation and improved market stability. The bank confirmed that Nigeria’s external reserves have now surged to $43 billion, their highest level in more than two years, driven by strong [...]

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]]> https://www.theinfostride.com/cbn-reports-naira-strengthening-as-fx-speculation-declines-reserves-climb-to-43bn/feed/ 0 Petrol Prices Remain High Despite Falling Crude Costs and Strengthening Naira https://www.theinfostride.com/petrol-prices-remain-high-despite-falling-crude-costs-and-strengthening-naira/ https://www.theinfostride.com/petrol-prices-remain-high-despite-falling-crude-costs-and-strengthening-naira/#respond Sun, 19 Oct 2025 19:16:09 +0000 https://www.theinfostride.com/?p=469475 Despite a notable decline in global crude oil prices and recent gains recorded by the naira, petrol prices across Nigeria have remained stubbornly high, fueling public frustration and renewed debate over transparency in the downstream petroleum sector. Industry analysts say the persistence of high pump prices suggests deeper inefficiencies in the supply chain, weak domestic [...]

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]]> https://www.theinfostride.com/petrol-prices-remain-high-despite-falling-crude-costs-and-strengthening-naira/feed/ 0 Naira Dips for Third Consecutive Day to N1,473.29 per Dollar https://www.theinfostride.com/naira-dips-for-third-consecutive-day-to-n1473-29-per-dollar/ https://www.theinfostride.com/naira-dips-for-third-consecutive-day-to-n1473-29-per-dollar/#respond Thu, 16 Oct 2025 13:33:11 +0000 https://www.theinfostride.com/?p=469235 The Nigerian naira continued its downward trajectory on Tuesday, weakening for the third consecutive day against the U.S. dollar at the official foreign exchange market. According to data from the FMDQ Securities Exchange, which oversees official FX trading, the naira closed at N1,473.29 per dollar, down from N1,468.99 recorded on Monday.The local currency’s continued depreciation [...]

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]]> https://www.theinfostride.com/naira-dips-for-third-consecutive-day-to-n1473-29-per-dollar/feed/ 0 Naira Strengthens to 10-Month High Amid Rising Foreign Exchange Inflows https://www.theinfostride.com/naira-strengthens-to-10-month-high-amid-rising-foreign-exchange-inflows/ https://www.theinfostride.com/naira-strengthens-to-10-month-high-amid-rising-foreign-exchange-inflows/#respond Mon, 13 Oct 2025 11:45:25 +0000 https://www.theinfostride.com/?p=468969 The Nigerian naira has surged to its strongest level in ten months, buoyed by a steady rise in foreign exchange inflows, improved liquidity in the market, and renewed confidence from both investors and exporters. The latest data from the Central Bank of Nigeria (CBN) and market reports indicate that the local currency has appreciated significantly [...]

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]]> https://www.theinfostride.com/naira-strengthens-to-10-month-high-amid-rising-foreign-exchange-inflows/feed/ 0 Cash Outside Banks Declines to N4.45tn as CBN’s Policies Take Effect https://www.theinfostride.com/cash-outside-banks-declines-to-n4-45tn-as-cbns-policies-take-effect/ https://www.theinfostride.com/cash-outside-banks-declines-to-n4-45tn-as-cbns-policies-take-effect/#respond Sun, 05 Oct 2025 13:28:00 +0000 https://www.theinfostride.com/?p=468308 Nigeria’s cash circulating outside the banking system has dropped to N4.45 trillion as of August 2025, according to the latest data released by the Central Bank of Nigeria (CBN). The decline marks a significant improvement in liquidity management and is seen as a direct result of the apex bank’s ongoing monetary tightening measures and push [...]

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]]> https://www.theinfostride.com/cash-outside-banks-declines-to-n4-45tn-as-cbns-policies-take-effect/feed/ 0 Banks’ Deposits with CBN Surge 568% to N146.13 Trillion in Nine Months https://www.theinfostride.com/banks-deposits-with-cbn-surge-568-to-n146-13-trillion-in-nine-months/ https://www.theinfostride.com/banks-deposits-with-cbn-surge-568-to-n146-13-trillion-in-nine-months/#respond Wed, 01 Oct 2025 14:15:19 +0000 https://www.theinfostride.com/?p=467951 Nigeria’s banking sector has witnessed a dramatic shift in liquidity management, as fresh data reveal that commercial banks’ deposits with the Central Bank of Nigeria (CBN) soared by 568 percent in the first nine months of 2025, hitting an unprecedented N146.13 trillion. The spike reflects a combination of regulatory tightening by the apex bank, adjustments [...]

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]]> https://www.theinfostride.com/banks-deposits-with-cbn-surge-568-to-n146-13-trillion-in-nine-months/feed/ 0 FX Inflows and Rising Reserves Strengthen Naira to ₦1,497 per Dollar https://www.theinfostride.com/fx-inflows-and-rising-reserves-strengthen-naira-to-%e2%82%a61497-per-dollar/ https://www.theinfostride.com/fx-inflows-and-rising-reserves-strengthen-naira-to-%e2%82%a61497-per-dollar/#respond Tue, 16 Sep 2025 08:11:40 +0000 https://www.theinfostride.com/?p=466682 Nigeria’s foreign exchange market recorded a notable development as the naira appreciated to around ₦1,497 per dollar at the official window, marking one of its strongest performances in recent months. The improvement was attributed to a combination of factors, including increased foreign exchange inflows, a rise in external reserves, and strategic interventions that have helped [...]

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]]> https://www.theinfostride.com/fx-inflows-and-rising-reserves-strengthen-naira-to-%e2%82%a61497-per-dollar/feed/ 0 Naira Strengthens to ₦1,500 Per Dollar as Foreign Reserves Rebound https://www.theinfostride.com/naira-strengthens-to-%e2%82%a61500-per-dollar-as-foreign-reserves-rebound/ https://www.theinfostride.com/naira-strengthens-to-%e2%82%a61500-per-dollar-as-foreign-reserves-rebound/#respond Thu, 11 Sep 2025 09:26:28 +0000 https://www.theinfostride.com/?p=466426 The Nigerian currency has staged a strong recovery in the foreign exchange market, appreciating to ₦1,500 per United States dollar amid renewed confidence spurred by an improvement in the country’s external reserves. The rally marks a positive turn for the naira, which in recent months has faced sharp depreciation pressures due to dollar scarcity, inflation, [...]

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]]> https://www.theinfostride.com/naira-strengthens-to-%e2%82%a61500-per-dollar-as-foreign-reserves-rebound/feed/ 0 Naira Crash Almost Ruined My Latest Nollywood Project – RMD https://www.theinfostride.com/naira-crash-almost-ruined-my-latest-nollywood-project-rmd/ https://www.theinfostride.com/naira-crash-almost-ruined-my-latest-nollywood-project-rmd/#respond Tue, 19 Aug 2025 11:00:26 +0000 https://www.theinfostride.com/?p=465440 Popular Nollywood actor Richard Mofe-Damijo (RMD) has shared the biggest challenge he faced while filming his new movie “Revelations.” He recently revealed that the naira crash almost derailed the project, and fans have been reacting. Speaking during an interview, RMD said that buying a dollar for N1,900 posed a major challenge to the release of [...]

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]]> https://www.theinfostride.com/naira-crash-almost-ruined-my-latest-nollywood-project-rmd/feed/ 0 Rising Inflation and Naira Depreciation Drive Manufacturers’ Costs to N2.6tn https://www.theinfostride.com/rising-inflation-and-naira-depreciation-drive-manufacturers-costs-to-n2-6tn/ https://www.theinfostride.com/rising-inflation-and-naira-depreciation-drive-manufacturers-costs-to-n2-6tn/#respond Mon, 11 Aug 2025 17:27:08 +0000 https://www.theinfostride.com/?p=464694 Nigeria’s manufacturing sector is grappling with escalating operational expenses, as the combined impact of sustained inflation and the weakening naira has pushed production costs to a staggering ₦2.6 trillion. Industry stakeholders warn that unless urgent measures are taken to stabilise the economy, the rising cost of doing business could further erode competitiveness, limit production capacity, [...]

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]]> https://www.theinfostride.com/rising-inflation-and-naira-depreciation-drive-manufacturers-costs-to-n2-6tn/feed/ 0 Naira Sees Mixed Trading as Forex Demand Stays High https://www.theinfostride.com/naira-sees-mixed-trading-as-forex-demand-stays-high/ https://www.theinfostride.com/naira-sees-mixed-trading-as-forex-demand-stays-high/#respond Mon, 11 Aug 2025 16:52:14 +0000 https://www.theinfostride.com/?p=464680 The Nigerian Naira experienced mixed trading patterns in the foreign exchange market this week as strong demand for foreign currency continued to shape market sentiment. Traders and analysts observed fluctuations in the exchange rate across official and parallel market segments, reflecting persistent pressure from import demands, capital outflows, and speculative activities. At the Nigerian Autonomous [...]

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]]> https://www.theinfostride.com/naira-sees-mixed-trading-as-forex-demand-stays-high/feed/ 0 Naira Closes July at ₦1,533.55/$, Dips by 0.25% https://www.theinfostride.com/naira-closes-july-at-%e2%82%a61533-55-dips-by-0-25/ https://www.theinfostride.com/naira-closes-july-at-%e2%82%a61533-55-dips-by-0-25/#respond Fri, 01 Aug 2025 12:20:58 +0000 https://www.theinfostride.com/?p=463732 The Nigerian naira ended the month of July 2025 on a slightly weaker note, closing at ₦1,533.55 per dollar at the official market, reflecting a 0.25% decline from the previous month. The marginal depreciation underscores persistent pressures on Nigeria’s foreign exchange market despite various monetary interventions by the Central Bank of Nigeria (CBN). According to [...]

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]]> https://www.theinfostride.com/naira-closes-july-at-%e2%82%a61533-55-dips-by-0-25/feed/ 0 Naira Weakens Further, Hits ₦1,536 Per Dollar at Official Market https://www.theinfostride.com/naira-weakens-further-hits-%e2%82%a61536-per-dollar-at-official-market/ https://www.theinfostride.com/naira-weakens-further-hits-%e2%82%a61536-per-dollar-at-official-market/#respond Wed, 23 Jul 2025 22:20:39 +0000 https://www.theinfostride.com/?p=406201 The Nigerian naira continued its downward spiral at the official foreign exchange market, closing at ₦1,536 per dollar. This marks yet another depreciation as the currency faces mounting pressure from forex demand and liquidity challenges. Market analysts attribute the weakening of the naira to persistent dollar shortages and speculative trading, which have intensified since the [...]

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]]> https://www.theinfostride.com/naira-weakens-further-hits-%e2%82%a61536-per-dollar-at-official-market/feed/ 0 Naira-for-Crude: Petrol Price Hike Looms as Talks Drag, Imports Rise https://www.theinfostride.com/naira-for-crude-petrol-price-hike-looms-as-talks-drag-imports-rise/ https://www.theinfostride.com/naira-for-crude-petrol-price-hike-looms-as-talks-drag-imports-rise/#respond Wed, 23 Jul 2025 22:00:50 +0000 https://www.theinfostride.com/?p=406640 Nigerians may soon face another increase in petrol prices as negotiations over the proposed naira-for-crude oil exchange drag on, leading to a surge in fuel imports. The prolonged discussions have created uncertainty in the downstream sector, with marketers warning that continued reliance on expensive imports could push pump prices higher. The naira-for-crude policy, introduced as [...]

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]]> https://www.theinfostride.com/naira-for-crude-petrol-price-hike-looms-as-talks-drag-imports-rise/feed/ 0 Naira Weakens to ₦1,532.34 Per Dollar Despite CBN Support https://www.theinfostride.com/naira-weakens-to-%e2%82%a61532-34-per-dollar-despite-cbn-support/ https://www.theinfostride.com/naira-weakens-to-%e2%82%a61532-34-per-dollar-despite-cbn-support/#respond Mon, 21 Jul 2025 12:59:04 +0000 https://www.theinfostride.com/?p=462533 The Nigerian naira experienced another dip against the United States dollar at the official foreign exchange window, closing the week at ₦1,532.34/$ despite continued intervention efforts by the Central Bank of Nigeria (CBN). This slight depreciation underscores the persistent volatility facing the nation’s currency amid efforts by the monetary authority to stabilize the foreign exchange [...]

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]]> https://www.theinfostride.com/naira-weakens-to-%e2%82%a61532-34-per-dollar-despite-cbn-support/feed/ 0 Naira Records Slight Gain Amid National Mourning for Former President Buhari https://www.theinfostride.com/naira-records-slight-gain-amid-national-mourning-for-former-president-buhari/ https://www.theinfostride.com/naira-records-slight-gain-amid-national-mourning-for-former-president-buhari/#respond Sat, 19 Jul 2025 15:06:54 +0000 https://www.theinfostride.com/?p=462393 The naira made a slight gain at the official market as Nigeria entered a period of national mourning following the death of former President Muhammadu Buhari. According to data from the Central Bank of Nigeria, the local currency appreciated to ₦1,532.34 per US dollar, representing a modest improvement of 77 kobo compared to the previous [...]

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]]> https://www.theinfostride.com/naira-records-slight-gain-amid-national-mourning-for-former-president-buhari/feed/ 0 LCCI predicts decline in inflation and forthcoming interest rate reductions https://www.theinfostride.com/lcci-predicts-decline-in-inflation-and-forthcoming-interest-rate-reductions/ https://www.theinfostride.com/lcci-predicts-decline-in-inflation-and-forthcoming-interest-rate-reductions/#respond Fri, 18 Jul 2025 13:37:21 +0000 https://www.theinfostride.com/?p=462313 The Lagos Chamber of Commerce and Industry (LCCI) has offered a cautiously optimistic projection that Nigeria’s inflation rate will continue its downward trajectory, paving the way for imminent interest rate reductions from the Central Bank of Nigeria (CBN). In its latest macroeconomic outlook, the chamber highlighted improving price dynamics, a stabilising naira, and easing food [...]

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]]> https://www.theinfostride.com/lcci-predicts-decline-in-inflation-and-forthcoming-interest-rate-reductions/feed/ 0 Naira strengthens marginally to ₦1,550 per dollar in parallel forex market https://www.theinfostride.com/naira-strengthens-marginally-to-%e2%82%a61550-per-dollar-in-parallel-forex-market/ https://www.theinfostride.com/naira-strengthens-marginally-to-%e2%82%a61550-per-dollar-in-parallel-forex-market/#respond Sat, 12 Jul 2025 11:51:03 +0000 https://www.theinfostride.com/?p=461739 The Nigerian naira experienced a modest appreciation in the parallel foreign exchange (FX) market, rising to ₦1,550 per United States dollar, up from the previous rate of around ₦1,570. This slight gain, though limited, has sparked cautious optimism among currency traders and financial analysts who have closely monitored the currency’s performance amidst lingering economic headwinds [...]

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]]> https://www.theinfostride.com/naira-strengthens-marginally-to-%e2%82%a61550-per-dollar-in-parallel-forex-market/feed/ 0 Afrinvest revises FMCG sector forecast upward, advocates for cost-efficiency strategies https://www.theinfostride.com/afrinvest-revises-fmcg-sector-forecast-upward-advocates-for-cost-efficiency-strategies/ https://www.theinfostride.com/afrinvest-revises-fmcg-sector-forecast-upward-advocates-for-cost-efficiency-strategies/#respond Sat, 12 Jul 2025 11:14:17 +0000 https://www.theinfostride.com/?p=461731 Afrinvest, a leading investment and research firm in Nigeria, has upgraded its outlook on the Fast-Moving Consumer Goods (FMCG) sector, citing signs of resilience amid economic pressures and urging companies in the sector to prioritize cost optimisation strategies to sustain profitability. The firm made this announcement in its latest sectoral review report, highlighting both emerging [...]

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]]> https://www.theinfostride.com/afrinvest-revises-fmcg-sector-forecast-upward-advocates-for-cost-efficiency-strategies/feed/ 0 Nigerians Should Strive To Uphold The Dignity Of Our Naira – AY Makun https://www.theinfostride.com/nigerians-should-strive-to-uphold-the-dignity-of-our-naira-ay-makun/ https://www.theinfostride.com/nigerians-should-strive-to-uphold-the-dignity-of-our-naira-ay-makun/#respond Wed, 07 May 2025 18:20:25 +0000 https://www.theinfostride.com/?p=409953 Popular comedian, AY Makun, has come out to reveal that he was recently invited by the Economic and Financial Crimes Commission over the public spraying of local and foreign currencies. He recently had his say via his social media page, and fans have been reacting. According to him, EFCC told him that publicly spraying both [...]

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]]> https://www.theinfostride.com/nigerians-should-strive-to-uphold-the-dignity-of-our-naira-ay-makun/feed/ 0 Naira Falls to N1,745/$ on Parallel Market Amid Exchange Rate Pressure https://www.theinfostride.com/naira-falls-to-n1745-on-parallel-market-amid-exchange-rate-pressure/ https://www.theinfostride.com/naira-falls-to-n1745-on-parallel-market-amid-exchange-rate-pressure/#respond Thu, 12 Dec 2024 22:34:04 +0000 https://www.theinfostride.com/?p=397537 The Nigerian Naira has plunged to a new low of ₦1,745 to the US dollar on the parallel market, reflecting mounting pressures on the country’s foreign exchange market. This significant depreciation marks a sharp contrast to the official exchange rate and highlights the growing challenges facing the Nigerian economy. Factors Driving the Depreciation Several factors [...]

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]]> https://www.theinfostride.com/naira-falls-to-n1745-on-parallel-market-amid-exchange-rate-pressure/feed/ 0 Naira Sustains Gains on New EFXM Platform https://www.theinfostride.com/naira-sustains-gains-on-new-efxm-platform/ https://www.theinfostride.com/naira-sustains-gains-on-new-efxm-platform/#respond Sat, 07 Dec 2024 23:29:22 +0000 https://www.theinfostride.com/?p=396999 The Nigerian naira has continued to show resilience and stability, maintaining its gains on the newly introduced EFXM platform. This platform, developed by the Central Bank of Nigeria (CBN), is designed to facilitate the efficient exchange of foreign exchange (forex) and strengthen the naira’s position against major international currencies. Key Features of the EFXM Platform [...]

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]]> https://www.theinfostride.com/naira-sustains-gains-on-new-efxm-platform/feed/ 0 Floating the Naira: A Risky Gamble, Says Africhange CEO Ajala https://www.theinfostride.com/floating-the-naira-a-risky-gamble-says-africhange-ceo-ajala/ https://www.theinfostride.com/floating-the-naira-a-risky-gamble-says-africhange-ceo-ajala/#respond Sun, 24 Nov 2024 09:33:21 +0000 https://www.theinfostride.com/?p=395469 Africhange CEO Tope Ajala has raised concerns over the floating of the naira, describing it as a high-risk strategy that could have far-reaching economic consequences for Nigeria. Speaking at a recent financial forum, Ajala emphasized that while the move is aimed at aligning the naira with market realities, its implementation comes with significant risks that [...]

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]]> https://www.theinfostride.com/floating-the-naira-a-risky-gamble-says-africhange-ceo-ajala/feed/ 0 Report Warns of Possible Naira Depreciation to N1,993 per Dollar https://www.theinfostride.com/report-warns-of-possible-naira-depreciation-to-n1993-per-dollar/ https://www.theinfostride.com/report-warns-of-possible-naira-depreciation-to-n1993-per-dollar/#respond Tue, 12 Nov 2024 21:22:33 +0000 https://www.theinfostride.com/?p=393721 A new economic report has projected a steep decline in the value of the Nigerian naira, suggesting that it could weaken to N1,993 against the US dollar if certain economic factors are not addressed. This forecast, while alarming, has triggered discussions among financial experts, policymakers, and citizens about the underlying causes and potential measures to [...]

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]]> https://www.theinfostride.com/report-warns-of-possible-naira-depreciation-to-n1993-per-dollar/feed/ 0 Naira Faces Market Forces, Dips to N1,650 per Dollar in Official Market https://www.theinfostride.com/naira-faces-market-forces-dips-to-n1650-per-dollar-in-official-market/ https://www.theinfostride.com/naira-faces-market-forces-dips-to-n1650-per-dollar-in-official-market/#respond Tue, 29 Oct 2024 20:57:36 +0000 https://www.theinfostride.com/?p=392563 The Nigerian naira has been significantly affected by prevailing market forces, recently plunging to a concerning level of N1,650 per dollar in the official exchange market. This alarming depreciation highlights the ongoing challenges faced by the Nigerian economy, including inflationary pressures, foreign exchange shortages, and shifting investor sentiment. The naira’s decline has sparked discussions about [...]

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]]> https://www.theinfostride.com/naira-faces-market-forces-dips-to-n1650-per-dollar-in-official-market/feed/ 0 Foreign Exchange Turnover Plummets by 71% as Naira Depreciation Deepens https://www.theinfostride.com/foreign-exchange-turnover-plummets-by-71-as-naira-depreciation-deepens/ https://www.theinfostride.com/foreign-exchange-turnover-plummets-by-71-as-naira-depreciation-deepens/#respond Tue, 29 Oct 2024 08:01:55 +0000 https://www.theinfostride.com/?p=392336 Nigeria’s foreign exchange (FX) turnover has seen a sharp decline, dropping by 71% in recent weeks, amid worsening conditions for the naira, which continues to lose value against major global currencies. The decline in FX turnover—indicative of reduced trading activity and liquidity in the currency market—reflects mounting pressures on Nigeria’s economy as it grapples with [...]

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]]> https://www.theinfostride.com/foreign-exchange-turnover-plummets-by-71-as-naira-depreciation-deepens/feed/ 0 Naira weakens to 1,705/$ at parallel market https://www.theinfostride.com/naira-weakens-to-1705-at-parallel-market/ https://www.theinfostride.com/naira-weakens-to-1705-at-parallel-market/#respond Thu, 17 Oct 2024 20:29:02 +0000 https://www.theinfostride.com/?p=391202 The Nigerian naira has continued its downward slide in the parallel market, reaching an alarming exchange rate of N1,705 to the US dollar as of this week. This latest development adds to the economic strain that has plagued the nation in recent months, further exacerbating inflationary pressures and creating uncertainty for businesses and individuals dependent [...]

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]]> https://www.theinfostride.com/naira-weakens-to-1705-at-parallel-market/feed/ 0 Naira Devaluation, Not Fuel Prices, Driving Nigeria’s Inflation – APC’s Oyalowo https://www.theinfostride.com/naira-devaluation-not-fuel-prices-driving-nigerias-inflation-apcs-oyalowo/ https://www.theinfostride.com/naira-devaluation-not-fuel-prices-driving-nigerias-inflation-apcs-oyalowo/#respond Mon, 16 Sep 2024 21:00:00 +0000 https://www.theinfostride.com/?p=389405 Former member of the All Progressives Congress Presidential Campaign Council (APC PCC), Ayobami Oyalowo, has identified the continuous devaluation of the naira, rather than fuel prices, as the primary factor behind Nigeria’s escalating inflation. Oyalowo made this observation while speaking on Channels Television’s The Morning Brief programme on Tuesday. Oyalowo argued that the rising cost [...]

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]]> https://www.theinfostride.com/naira-devaluation-not-fuel-prices-driving-nigerias-inflation-apcs-oyalowo/feed/ 0 Exchange rate for Customs duties collection drops by N43 as Naira strengthens https://www.theinfostride.com/exchange-rate-for-customs-duties-collection-drops-by-n43-as-naira-strengthens/ https://www.theinfostride.com/exchange-rate-for-customs-duties-collection-drops-by-n43-as-naira-strengthens/#respond Wed, 24 Jul 2024 18:24:51 +0000 https://www.theinfostride.com/?p=384931 The exchange rate for import duties collection by the Nigeria Customs Service (NCS) has declined from N1,584/$ on the 22nd of July to N1,541/$ today representing a drop of N43. The decline in the customs exchange rate comes on the heels of the recent appreciation of the naira on the official market. Data from FMDQ [...]

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]]> https://www.theinfostride.com/exchange-rate-for-customs-duties-collection-drops-by-n43-as-naira-strengthens/feed/ 0 Analysts’ project naira to stabilize between N1,423.26/$ and N1,550/$ by year-end 2024 https://www.theinfostride.com/analysts-project-naira-to-stabilize-between-n1423-26-and-n1550-by-year-end-2024/ https://www.theinfostride.com/analysts-project-naira-to-stabilize-between-n1423-26-and-n1550-by-year-end-2024/#respond Sat, 20 Jul 2024 20:48:10 +0000 https://www.theinfostride.com/?p=384003 Financial analysts at United Capital Plc have forecasted that the exchange rate will stabilize, trending between N1,423.26/$ and N1,550/$ by the end of 2024. This projection was stated in their HY-2024 Economic Outlook Report, titled “Balancing Act: Nigeria’s Path to Economic Stability.” The analysts noted that the outlook for Nigeria’s exchange rates in the second [...]

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]]> https://www.theinfostride.com/analysts-project-naira-to-stabilize-between-n1423-26-and-n1550-by-year-end-2024/feed/ 0 CBN sells $106.5 million to 29 FX dealer banks, blames demand pressure for naira fall https://www.theinfostride.com/cbn-sells-106-5-million-to-29-fx-dealer-banks-blames-demand-pressure-for-naira-fall/ https://www.theinfostride.com/cbn-sells-106-5-million-to-29-fx-dealer-banks-blames-demand-pressure-for-naira-fall/#respond Sat, 20 Jul 2024 03:26:27 +0000 https://www.theinfostride.com/?p=383864 The Central Bank of Nigeria (CBN) has announced the sale of $106.5 million as foreign exchange (FX) to 29 FX dealer banks.  In a statement signed by Dr Omolara Omotunde Duke, Director, Financial Markets Department, it was disclosed that on July 18 and 19, 2024, the CBN sold $106.5 million to 29 authorized dealer banks [...]

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]]> https://www.theinfostride.com/cbn-sells-106-5-million-to-29-fx-dealer-banks-blames-demand-pressure-for-naira-fall/feed/ 0 Naira rated worst performing currency in 2024 https://www.theinfostride.com/naira-rated-worst-performing-currency-in-2024/ https://www.theinfostride.com/naira-rated-worst-performing-currency-in-2024/#respond Sat, 29 Jun 2024 14:23:59 +0000 https://www.theinfostride.com/?p=381928 The naira has emerged as the worst-performing currency in the world in the first half of 2024. According to a report by Bloomberg on Friday, devaluation, insufficient dollar liquidity, and market volatility have hindered efforts by the Central Bank of Nigeria to strengthen the currency. Besides the naira, Egypt’s pound and Ghana’s cedi were the world’s [...]

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]]> https://www.theinfostride.com/naira-rated-worst-performing-currency-in-2024/feed/ 0 Naira on an 8-day depreciation streak, falls again to N1,507.83/$1 https://www.theinfostride.com/naira-on-an-8-day-depreciation-streak-falls-again-to-n1507-83-1/ https://www.theinfostride.com/naira-on-an-8-day-depreciation-streak-falls-again-to-n1507-83-1/#respond Wed, 26 Jun 2024 22:34:49 +0000 https://www.theinfostride.com/?p=381556 The naira has weakened further against the dollar on Wednesday, closing at N1,507.83/$1, based on the latest data from the FMDQ, which manages the NAFEM window where currencies are officially traded.  Throughout June, the exchange rate had been stable, fluctuating between N1,470/$1 and N1,480/$1. However, yesterday marked a significant shift as it breached the N1,500 [...]

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]]> https://www.theinfostride.com/naira-on-an-8-day-depreciation-streak-falls-again-to-n1507-83-1/feed/ 0 FX Crisis: Nigeria has already seen the worst of naira volatility, says Cardoso https://www.theinfostride.com/fx-crisis-nigeria-has-already-seen-the-worst-of-naira-volatility-says-cardoso/ https://www.theinfostride.com/fx-crisis-nigeria-has-already-seen-the-worst-of-naira-volatility-says-cardoso/#respond Wed, 26 Jun 2024 22:25:58 +0000 https://www.theinfostride.com/?p=381541 The Governor of the Central Bank, Yemi Cardoso, stated that the country has already experienced the worst of naira volatility regarding foreign exchange.  Cardoso said this in an interview on Tuesday in London while speaking to Bloomberg TV.  The head of the apex bank said he is satisfied with how far they have been able [...]

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]]> https://www.theinfostride.com/fx-crisis-nigeria-has-already-seen-the-worst-of-naira-volatility-says-cardoso/feed/ 0 Naira hits June low amid stronger dollar https://www.theinfostride.com/naira-hits-june-low-amid-stronger-dollar/ https://www.theinfostride.com/naira-hits-june-low-amid-stronger-dollar/#respond Wed, 26 Jun 2024 22:18:44 +0000 https://www.theinfostride.com/?p=381517 The naira moderated by 71 basis points in the official market amid increased pressure from the U.S. dollar index, showing improved stability in the unofficial market. FMDQ data highlighted that the naira dipped by 0.71% against the greenback, settling at N1,500.79, much lower than N1,490.2/$ on Monday at the Nigerian Autonomous Foreign Exchange Market. Currency [...]

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]]> https://www.theinfostride.com/naira-hits-june-low-amid-stronger-dollar/feed/ 0 Cubana Chief Priest Must Lead Campaign Against Naira Abuse Online – Justice Kehinde Ogundare https://www.theinfostride.com/cubana-chief-priest-must-lead-campaign-against-naira-abuse-online-justice-kehinde-ogundare/ https://www.theinfostride.com/cubana-chief-priest-must-lead-campaign-against-naira-abuse-online-justice-kehinde-ogundare/#respond Wed, 26 Jun 2024 21:00:15 +0000 https://www.theinfostride.com/?p=381505 Justice Kehinde Ogundare of the Federal High Court in Lagos has settled the case involving Okechukwu Pascal a.k.a Cubana Chief Priest. Recall that the socialite faced three-count charges of Naira note abuse brought by the Economic and Financial Crimes Commission (EFCC), but the case has finally been struck out. According to an EFCC spokesperson, the [...]

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]]> https://www.theinfostride.com/cubana-chief-priest-must-lead-campaign-against-naira-abuse-online-justice-kehinde-ogundare/feed/ 0 Naira Holds Steady on Black Market at ₦1,495 https://www.theinfostride.com/naira-holds-steady-on-black-market-at-%e2%82%a61495/ https://www.theinfostride.com/naira-holds-steady-on-black-market-at-%e2%82%a61495/#respond Thu, 06 Jun 2024 20:40:38 +0000 https://www.theinfostride.com/?p=379939 The Nigerian naira maintained its stability on Thursday, exchanging at N1,495 against the dollar on the parallel market, also known as the black market. This steady rate represents a marginal change of 0.33 percent compared to the previous day’s exchange rate of N1,490. The data, sourced from online trading platforms and street traders, indicates a [...]

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]]> https://www.theinfostride.com/naira-holds-steady-on-black-market-at-%e2%82%a61495/feed/ 0 Naira Slides Despite Government Efforts https://www.theinfostride.com/naira-slides-despite-government-efforts/ https://www.theinfostride.com/naira-slides-despite-government-efforts/#respond Tue, 28 May 2024 15:29:56 +0000 https://www.theinfostride.com/?p=379220 In the realm of Nigeria’s foreign exchange landscape, President Bola Tinubu’s ambitious reforms have sparked both anticipation and skepticism. Despite the high hopes pinned on these measures, their implementation has come under intense scrutiny, yielding mixed results. The Nigerian naira’s journey against the US dollar tells a tale of volatility and depreciation. Within a span [...]

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