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Nigeria Naira

Forex constraint devalues naira to N380 per dollar

Shortage of forex in the economy caused the naira to fall below the official rate of by 3.5 per cent to N380/$1 from N360/$1 according to the Central Bank of Nigeria.

The psychology of Covid-19

Nigeria announced its first COVID-19 case on February 27 – an Italian who came into the country on February 24 and displayed symptoms of the disease while visiting Lafarge Cement Company in Ewekoro, Ogun State.
Nigeria Naira

Naira bounces back after days of depreciation

The naira appreciated against the dollar on Friday after days of panic buying amid speculations that the Nigerian central bank may devalue the local currency.

CBN: Market unfavourable for Naira devaluation

The Central Bank of Nigeria (CBN) says market fundamentals do not support Naira devaluation this time around.
Nigeria Naira

Naira crashes to N420 to the dollar in parallel market

The severe pressure on Nigeria’s foreign exchange market has led to significant depreciation of the Naira across all the market segments, with JP Morgan predicting a further depreciation of the Naira before June.

Forex: Central bank injects $292.34 million, CNY 22.8 million into Retail SMIS

The Central Bank of Nigeria (CBN) on Friday, February 21, 2020, continued its intervention in the inter-bank foreign exchange market by injecting the sum of $292.34million into the retail Secondary Market Intervention Sales (SMIS).

Cowry Asset: Forex market to witness stability in 2020

The foreign exchange (forex) market will witness stability in 2020, while the Central Bank of Nigeria (CBN) will continue to sustain its Open Market Operation (OMO) sales at high interest to continue to attract foreign investors.

Central bank injects $323.5 million, CNY 17.9 million into forex market

The Central Bank of Nigeria (CBN) has injected 323.5million dollars into the Retail Secondary Market Intervention Sales (SMIS) for its last intervention for November.

Central bank stabilises naira with $25.68 billion in eight months

The Central Bank of Nigeria injected about $25.68bn to stabilise the nation’s currency in the foreign exchange market between January and August this year.

Central bank Injects $210 million into forex market

The Central Bank of Nigeria (CBN) has injected 210 million U.S. dollars into interbank segment of the Foreign Exchange Market following sales concluded on Tuesday.

Forex: Central bank intervenes with $321.11 million, CNY33.3 million

The Central Bank of Nigeria (CBN) on Friday said it made another intervention in the Retail Secondary Market Intervention Sales (SMIS) with the injection of about $321 million.

Forex: Turnover in I&E rises by 38% to $4bn in July

The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose sharply by 38 percent, month-on-month, to $4.12 billion in July from $2.9 billion in June, 2019.

Central bank injects $210 million into forex market

The Central Bank of Nigeria (CBN) has injected the sum of 210 million dollars into the inter-bank Foreign Exchange Market after the transactions on Tuesday, July 30.

Central bank injects $284.2 million, ¥36 million into retail secondary market

The Central Bank of Nigeria (CBN) has injected 284.2 million dollars in the retail Secondary Market Intervention Sales (SMIS).
Oby Ezekwesili

Oby Ezekwesili kicks against central bank’s planned forex restriction for milk

Former Education Minister and Vice-President of the World Bank’s Africa division, Oby Ezekwesili, and other Nigerians expressed concerns about the addition of milk to planned to list of items banned from accessing the official foreign exchange market.

Forex: Central bank injects $298.71 million into retail market

The Central Bank of Nigeria (CBN) says it has made another intervention of 298.71million dollars in the retail Secondary Market Intervention Sales (SMIS).
(FILES) This file photo taken on February 9, 2017 shows Chinese 100 yuan notes in Beijing. The Chinese currency continued its sharp decline on July 20, 2018 despite US President Donald Trump's bid to rein in the dollar, as analysts pointed out that a weaker yuan aids Beijing in its trade tussle with Washington. / AFP PHOTO / FRED DUFOUR

Central bank boosts retail forex market with $242.04 million, ¥32.3 million

In continuation of its intervention in the inter-bank foreign exchange market, the Central Bank of Nigeria (CBN) on Friday injected about $242.04 million into the retail Secondary Market Intervention Sales (SMIS).

Naira closes at N359.5 per dollar at parallel market in Lagos

The Naira on Tuesday closed at N359.5 to a dollar at the parallel market in Lagos, newsmen reports.

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Dr Chikwe Ihekweazu, Director General of NCDC, disclosed this on Monday on Channels Television, Programme “Sunrise Daily”, while, speaking on COVID-19 pandemic in Nigeria.

NCDC rules out elderly, symptomatic coronavirus patients from home care

The Nigeria Centre for Disease Control has ruled out elderly patients and those with severe symptoms from home care treatment for COVID-19.
The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

Police order arrest of fake coronavirus taskforce in Anambra

Anambra State Commissioner of Police, Mr John Abang, has ordered the arrest of illegal task force teams claiming to be enforcing COVID-19 measures including wearing of face masks in the state.
Governor Abubakar Badaru Babura of Jigawa

Governor Badaru: Jigawa power transmission substation set for inauguration

Gov. Muhammad Badaru of Jigawa says the 96 megawatts capacity Gagarawa power transmission substation is set for inauguration in three weeks time.
Ibrahim Magu

Presidency: Ibrahim Magu’s probe shows anti-corruption fight is real

The Presidency on Saturday said those who hold the belief that the ongoing investigation of the suspended acting chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, is an indication of the administration’s failing anti-corruption fight have missed the point.

NGO distributes palliatives to physically changed

Lola Cater for the Needy Foundation, an Abuja-based non-governmental organisation, has distributed some palliative materials to the People Living With Disabiluties (PLWDs) in Karamajiji, Abuja.