By Ajibola Olaide, JKNewsMedia Reporter NIGERIA’s DOWNSTREAM petroleum market is facing fresh pressure after Dangote Petroleum Refinery switched sales of refined petroleum products from naira to the United States (US) dollar, a move expected to require petroleum marketers to source about $1.84bn every month to sustain fuel supply across the c...
By JKNewsMedia NIGERIA’s CURRENCY, the naira, remained stable at N1,379.6504 to the dollar at the official foreign exchange market on Monday. JKNewsMedia.com reports that the currency has maintained the same rate since the market’s last auction on Friday. Dealers quoted bid rates ranging between N1,378 and N1,382 to the dollar dur...
By JKNewsMedia FRESH GAINS by the Naira at the official foreign exchange market saw the local currency close at N1,369.10 to the dollar on Monday, strengthening from N1,370.45 recorded at the end of trading on Friday. JKNewsMedia.com reports that data published on the website of the Central Bank of Nigeria (CBN) showed that the currency [&hel...
By Jemimah Wellington, JKNewsMedia Correspondent MODEST GAINS closed August for the Nigerian currency as the Naira advanced against the United States (US) dollar across both the official and parallel markets, supported by improved foreign exchange inflows and a stronger external reserves position. Economic analysts linked the steady performan...
By Jemimah Wellington, JKNewsMedia Reporter THE NIGERIAN naira experienced a slight depreciation against the US dollar in the official foreign exchange market on Thursday, marking its third consecutive daily decline. According to data from the Central Bank of Nigeria (CBN), the naira weakened to ₦1,538.66 per dollar on March 27, down from ₦1,...
