Naira
The Central Bank of Nigeria has revealed that Nigeria's foreign reserves have dropped to the lowest level in seven years amid a rise in the value of the naira.
Netizens recently went gaga online as the report about Lagos big boy Cubana Chiefpriest being arraigned to court by the EFCC for abuse of the naira went viral.
The Central Bank of Nigeria remains determined to help the naira value in the official and unofficial market by increasing the foreign exchange market.
Nigerians are reacting to the sudden naira appreciation after Bloomberg's recent findings showed that Nigeria is depleting its foreign exchange reserves.
A Nigerian man has frowned at the unchanged price of food commodities and essential items in the market despite the massive gains the naira made against the dollar.
The naira continued its gain against the US dollar in all markets on Monday, April 15, 2024, selling at N1,100 per dollar in the parallel market and N1,136 at FMDQ.
In the view of Reno Omkri, a one-time presidential media aide, the dollar will fall below N1,000 if only Nigerians begin to patronise local goods.
Following the rise of the naira, Pastor Reno Omokri has aimed a dig at Prophet Ezenwa Ritabbi, the founder of Christ as of Old Ministry, Plateau state.
Currency traders in Lagos, also known as bureau de change (BDC) operators, offered the purchasing rate of the US dollar at N1,110, and the selling price at N1,150.
Naira
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