Tag: Naira
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Minister blames naira fall on $6.8bn forex payment backlog
Finance minister Olawale Edun says Nigeria has to clear a $6.8 billion backlog of foreign exchange forward payments before the naira stabilizes.
Forward contracts allow...
Naira at record low on black market, inches closer to 1000 to dollar
Naira fell to a record low on the black market on Wednesday, edging closer to 1000 to a dollar, as Nigeria’s foreign exchange problems...
Naira tumbles to N900 after brief recovery
The naira is on a downward spiral again after government’s intervention handed the currency a breather for about a week.
The currency fell to N900...
Naira could take 18 months to stabilize after reforms, IMF says
Stabilizing Nigeria's economy and the naira exchange rate could take up to 18 months after recent reforms, the International Monetary Fund says, warning that...
Nigeria currency traders want Binance banned
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Nigerian government to ban the cryptocurrency exchange Binance from operating in...