Business
Naira loses steam, remains stagnant at parallel market
The Nigerian Naira on Thursday, May 24, maintained same rate against the United States of America Dollar at the parallel segment of the Foreign Exchange Market.
The local currency closed at the rate of N366 against the greenback, same which at which it exchanged for on Wednesday, May 23.
Against the British Pound Sterling, the Naira closed at the rate of N498 and closed at the rate of N430 against the European Single Currency, Euro.
Meanwhile, the Central Bank of Nigeria, CBN, has released 210 million dollars to meet customers’ requests in various segments of the foreign exchange market, the acting Director, Corporate Communications of the apex bank, Isaac Okorafor, said in a statement.
He noted that the Small and Medium Enterprises (SMEs) segment got an allocation of 55 million dollars. He added that customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated 55 million dollars.
-
Latest1 week agoLagos NURTW organising secretary Toba Ajiboye dies after gunmen attack
-
Business5 days agoCBN targets $12bn annual Diaspora inflows to boost FX liquidity
-
Business5 days agoSEC launches nationwide campaign to help investors recover unclaimed dividends
-
Business4 days agoNigerian AI researcher champions ethical artificial intelligence at COPA AI 2026 summit in Wales
-
Latest1 week agoOyo APC berates Makinde over call for UN probe into Oriire school rescue
-
Business6 days agoCBN launches real-time FX tracker for BDCs, tightens oversight of FX market
-
Latest7 days agoKwankwaso calls for renewed North–South-East Political alliance ahead of 2027
-
Business5 days agoFood prices now biggest threat to inflation, beyond CBN’s reach – Analysts