Nigeria News

Naira falls against dollar in new exchange rate, loses N73

The Naira has resumed its downward trend against the dollar in the foreign exchange market.

According to FMDQ data, the Naira fell to N1533.99 per dollar on Thursday, compared to N1459.02 on Wednesday, marking a significant drop of N73.98 in a single day.

Likewise, in the parallel market, the Naira depreciated to N1555 per dollar from N1515 on Wednesday.

In response to the country’s forex challenges, the Central Bank of Nigeria has taken steps to address the issue by granting Approval-in-Principle (AIP) to 14 new International Money Transfer Operators (IMTOs). This move aims to boost foreign currency remittance inflows through formal channels.

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

Soaring rice prices threaten Christmas celebrations for Nigerian families

Rice, a staple for Christmas celebrations in Nigeria, has become a luxury this year. Soaring…

22 hours ago

Panic as Stage collapses during Odumodublvck’s performance at Lagos concert

Panic erupted on Saturday at a concert in Lagos when the stage collapsed during Odumodublvck’s…

22 hours ago

2025 Budget: FG allocates ₦6.36bn for renovation of Tinubu, Shettima’s official quarters

The Federal Government of Nigeria has allocated ₦6,364,181,224 billion for the refurbishment and rehabilitation of…

22 hours ago

Black Market Dollar to Naira Exchange Rate Today 22nd December 2024

The black market dollar to naira exchange rate for today, 22nd December 2024, can be…

22 hours ago

NNPC debunks shutdown rumors, confirms fuel loading at Port Harcourt Refinery

The Nigerian National Petroleum Company Limited (NNPCL) has refuted claims that the 60,000 barrels per…

22 hours ago

‘We have to find a way’ – Guardiola laments after defeat to Aston Villa

Manchester City finds itself in unprecedented turmoil, with relegation-level form showing little sign of improvement.…

23 hours ago