Despite efforts by the Economic and Financial Crimes Commission (EFCC) to curtail the operations of suspected manipulators and speculators, the naira has continued to depreciate in value leaving many Nigerians wondering. The EFCC had claimed to engaged in the well-known Abuja Zone 4 market, specifically targeting Bureau De Change operators in an attempt to slow…
The Naira, on Wednesday, appreciated against the US Dollar on the unofficial parallel market, commonly referred to as the black market. In Wednesday’s trading, the exchange rate was N1,300 per dollar, representing a 0.76% increase (N10) compared to the N1,310 rate recorded on Tuesday on the black market. The persistent foreign exchange pressure, exacerbated by…
Oil marketers are increasingly worried they can’t import petrol due to the dollar shortage in the country. Despite the deregulation of the downstream sector, concerns have been raised about the potential comeback of the country’s persistent fuel scarcity. No fewer 86 oil trading companies may have dumped their various permits to import Premium Motor Spirit(PMS),…
