Business
Nigerian naira firms up against dollar on central bank intervention
The naira firmed against the dollar on the inter-bank market on Monday after the Central Bank of Nigeria CBN, said it will sell dollars on forward delivery from Monday in its bid to shore up the domestic currency’s value.
The naira strengthened 0.69 per cent to N163.70 to the dollar, up from its N164.85 close on Friday. Traders said a unit of Chevron sold $42.2 million to some banks, which also provided support for the local currency. The CBN has continued to sell dollars onto the market to support the local currency, which came under pressure following the suspension of its governor two weeks ago.
-
News2 days agoBreastfeeding can improve Nigeria’s economy—Commissioner
-
Oil and Gas2 days agoOil prices drop 5% to three-week low after Trump cancels attack on Iran
-
Oil and Gas2 days agoNNPC remits N6.286trn into federation account between January and June 2026, issues another tender to sell Cawthorne crude
-
News2 days agoNESG appoints Engr. Adeleye Falade, FNSE to its board
-
Economy2 days agoEBID, CORIS Holding sign 80m euro financing agreement to strengthen food, energy, agric value chains in West Africa
-
Stock Market2 days agoNGX All-Share Index advanced by 0.18%, capitalisation increased by 0.18% to N158.61trn
-
Economy12 hours agoNigeria woos U.S. solid minerals investors
-
Oil and Gas12 hours agoDangote refinery aims to raise $5bn with October listing, source says