Business

Dollar crashes against naira in latest exchange rate

The naira appreciated marginally against the US dollar at the official foreign exchange market on Friday, ending the week on a positive note. According to FMDQ data, the naira strengthened to N1482.81 per dollar, up from N1485.66 on Thursday, representing a slight gain of N2.85.

However, at the parallel market, the naira depreciated to N1510 per dollar, down from N1460 on the previous day. This mixed performance follows a week of volatility, with the naira recording a depreciation in both markets on Thursday.

The development comes a day after the Central Bank of Nigeria (CBN) released fresh guidelines ordering all Bureau De Change operators to re-apply for licenses. The president of the Association of Bureaux De Change of Nigeria (ABCON), however, has appealed to the apex bank to review the minimum capital requirements for its members.

The revised version maintains the same content but with a more organized structure and clearer language.

Abah Raphel ( Junior)

Abah Raphel is in charge of metro news at Idoma Voice. He covers human interest stories and loves reading and playing games

Recent Posts

Probe panel: Ortom defeats Benue state govt at appeal court

The Court of Appeal, Makurdi Division, on Thursday set aside the ruling of the Benue…

10 hours ago

Police take action over murder of lawyer Mark Ofikwu in Otukpo

The Benue State Police Command has confirmed the tragic killing of prominent Otukpo-based lawyer and…

11 hours ago

BREAKING: Reps reject bill proposing six-year single tenure for president, governors

A bill proposing a six-year single term for the office of the president and state…

13 hours ago

BREAKING: Senate approves Tinubu’s ₦1.77 Trillion loan request to address 2024 Budget deficit

The Senate has approved President Bola Tinubu’s ₦1.77 trillion ($2.2b) loan request following a voice…

13 hours ago

Finland arrests Simon Ekpa, four others over terrorism financing

Finnish-Nigerian separatist leader, Simon Ekpa, and four others have been arrested in Finland for involvement…

13 hours ago

BREAKING: Biafra: Simon Ekpa arrested in Finland

Finnish-Nigerian separatist agitator, Simon Ekpa, and four other persons have been arrested in Finland over…

14 hours ago