Business
Naira Appreciates To N994 Per Dollar At Parallel Exchange Market
The buying price for the dollar was ₦985, and the selling price was ₦994, resulting in a profit margin of ₦8.
The Nigerian naira appreciated in the parallel market, trading at ₦994 per dollar, marking an ₦2 or 0.20 percent increase from the N995 rate on the previous Friday.
Bureaux De Change operators noted reduced demand for the US dollar in the street market.
The buying price for the dollar was ₦985, and the selling price was ₦994, resulting in a profit margin of ₦8.
The official market also saw the naira rise by 3.02 percent to close at ₦747.76/$ on the preceding Friday, following the Central Bank of Nigeria’s unification of all FX windows in June 2023.
The Centre for the Promotion of Private Enterprise (CPPE) has recommended creating an autonomous window in the banking system to address the FX market’s confidence crisis and reduce forex flow into the parallel market.
BREAKING: FG Plans Low-Key 66th Independence Celebration for Nigerians
President Bola Tinubu will address Nigerians in a nationwide broadcast on October 1 as the Federal Government prepares a low-key...
BREAKING: Youths Seeks Release of #EndSARS Report
Ogun youths have urged Governor Dapo Abiodun to make public the report of the state’s Judicial Panel of Investigation on...
Meet the 3 New Super Eagles Stars Set for Their First Nigeria Call-Up
George Ilenikhena, Isaac James and Moses Usor have earned their first Super Eagles invitations as Nigeria prepare for crucial 2026...
BREAKING: Tinubu Gives Fresh Order Over Deaths of 37 Miners
President Bola Tinubu has ordered a full and transparent investigation into the deaths of 37 miners in NSCDC custody in...
Burna Boy Set to Make History Again as He Headlines NFL’s First-Ever Paris Game
Nigerian Afrobeats superstar Burna Boy will return to Paris’ Stade de France in October to headline the halftime show for...
Dangote Refinery Reveals Why Falling Crude Prices May Not Hurt Its Profits
Dangote Refinery has assured prospective investors that a possible decline in crude oil prices after the US-Iran conflict will not...
Survivor Reveals IBB as Owner of Niger Gold Mine Where 37 Miners Died
A survivor of the Niger State mining detention tragedy has alleged that the gold-mining site where 37 suspected illegal miners...
VIDEO: ‘Wear Only APC Cap or Face Consequences’, Edo LG Chairman Threatens Drivers
The chairman of Esan West Local Government Area of Edo State, Blessing Ebhodaghe, has directed commercial drivers in the council...
IPOB: 2027 Election Is No Substitute for a Referendum — Let the Peoples Decide
IPOB has called for a referendum to allow Nigerians and the country’s constituent peoples to decide the political arrangement under...
Sanwo-Olu, Fashola, Ambode, Others Named in Lagos APC 2027 Campaign Council (Full List)
The Lagos State chapter of the APC has unveiled its campaign council ahead of the 2027 general elections, naming Governor...
You must be logged in to post a comment Login