Economy

FG declares Wednesday work-free day

Published

5 years ago

May 28, 2019

Eric

The Federal Government has declared Wednesday a work-free day in commemoration of the 2019 presidential inauguration.

The Minister of Interior, Lt.-Gen. Abdulrahman Dambazau, (retd.), made the declaration on behalf of the Federal Government on Monday in Abuja in a statement by the ministry’s permanent secretary, Mrs Georgina Ehuriah.

The News Agency of Nigeria quoted Dambazau as congratulating President Muhammadu Buhari on his re-election.

The minister also congratulated Nigerians on the successful conduct of the 2019 elections, which he said were widely acknowledged as peaceful, free, fair, credible and transparent.

Dambazau called on Nigerians to support the policies and programmes of the incoming administration.

He said the policies were all geared towards the improvement of the lives of the citizens, as well as the unity, growth and development of the nation, as it moves to the next level.

He expressed confidence that, with the collaboration of all Nigerians, the nation would be transformed in the next four years to a country that would be the envy of other nations.

Economy

Naira Begins Week on a Low, Trades at N1,419/$1 in Official Window

Published

1 week ago

April 30, 2024

Eric

The Naira began the week on a losing note against the American dollar on Monday, April 29, 2024 at the official window to trade at N1,419/$1.

This is according to data sourced from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window.

At the end of trading on Monday, the Naira lost N19.88 against the dollar compared to the previous exchange rate of N1,399.23/$1 on Friday, April 27, 2024.

The intra-day high and low recorded during the day were N1,451/$1 and N1,060 /$1 respectively, representing a wide spread of N391/$1.

However, the Naira gained against the dollar at the parallel section of the market trading at N1,330/$1 representing a gain of N100 compared to the N1,430/$1 it traded the previous day.

Contrastingly, the Naira gained against the pound. The domestic currency appreciated by N10 against the British Pound to trade at N1,640/£1 as against the previous trading price of N1,650/£1 representing a gain of N10 for the local currency,

The Canadian dollar however closed flat against the naira to trade at N1,000/CA$1 same as the previous trading day rate.

The Euro also slumped against the Naira to trade at N1,430/€1 as against the rate of N1,450/€1 the previous trading rate indicating a gain of N20 for the Nigerian currency.

Economy

Naira Makes More Recovery, Sells at N1,453/$1

Published

2 months ago

March 22, 2024

Eric

The Naira continued its appreciation at the official market on Thursday, March 21, 2024 to close at N1,453.28/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This represents an appreciation of N39.33 when compared to the N1,492.61/$1 it closed on Wednesday, March 20, 2024.

The intraday high was N1,598/$1, while the intraday low was N1,300/$1, representing a wide spread of N298/$1.

Similarly, the Naira appreciated against the dollar at the parallel window to trade at N1,500/$1, this represents an appreciation of N20.00 as against the N1,520 /$1 it traded the previous day.

The Naira also appreciated slightly against the British Pound to trade at N2,000/£1 as against the previous trading day’s price of N2,020/£1 representing a gain of N20 for the local currency.

The Canadian dollar, however, closed flat against the naira to trade at N1,270/CA$1 same as the N1,270/CA$1 it traded the previous day representing a decline of N20 in the local currency.

The Naira gained N30 against the Euro to trade at N1,670/€1 as against the previous closing price of N1,700/€1.

Economy

Naira Gains Against Dollar, Trades at N1,603/$1

Published

2 months ago

March 13, 2024

Eric

The Naira, Tuesday continued its recovery against the American dollar as it traded at N1,603.38/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window has shown.

This represents a gain of N15.48 when compared to the N1,617.96/$1 it closed on, on Monday, March 11, 2024.

The intraday high was N1,637/$1, while the intraday low was N1,425.35/$1, representing a lean spread of N211.65/$1.

Meanwhile, the Naira gained N12 against the dollar at the parallel market as the local currency appreciated to N1,603/$1 as against the N1,615 /$1 it traded the previous day. As it stands, the naira is trading at the same rate at both official and parallel windows.

The Naira, however, slumped against the British Pound to trade at N2,050/£1 as against the previous trading day’s price of N2,030/£1 representing a loss of N20 for the local currency.

After about two weeks of closing flat against the Canadian dollar, the naira slumped massively to trade at N1,300/CA$1 on Tuesday, representing a decline of N150 when compared to the N1,150/CA$1 it traded the previous day.

The Naira lost N35 against the Euro to trade at N1,740/€1 as against the previous closing price of N1,705/€1 representing a loss of N35 for the local currency.