JUST IN ! CBN Bans Use of Foreign Currencies as Collateral for Naira Loans

Naira Hits Historic Low, Exchanges at N1,348.63/$ in the Official Market

The Nigeria naira has plunged to a historic low, reaching N1348.63 against the US dollar in the Nigerian Autonomous Foreign Exchange Market. Going by data from the FMDQ Securities Exchange, the unprecedented crash, reported in the official market on Monday, represents a significant 51.21% drop from the closing rate of N891.90/$ recorded on Friday. This […]

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