Newsonline reports that the naira on Tuesday, August 30, 2022, reversed its almost miraculous comeback to trade over the N700/$1 mark once again.
This is according to information gathered from several black market forex traders, who spoke to NewsOnline in Ogba, Lagos.
The last time the naira reached the 700/$ range was on July 27, 2022, a Wednesday. However, the latest decline in the Naira comes following a 34.3% decline in FX turnover, from $82.38 million on Friday, August 26, 2022, to $54.13 million on Monday.
The naira’s depreciation follows reports that the Central Bank of Nigeria has released $265 million to save the Aviation sector, with a portion of it going to pay blocked funds owing to foreign airlines.
Akmodel Groups MD, Bldr. (Dr.) Odegade celebrated mothers at RECRA 2024 with Favour Benson, Dr.…
Federal Executive Council has suspended the Cyber Security Levy. NewsOnline Nigeria reports that the…
ASUU has issued a fresh nationwide strike notice. NewsOnline Nigeria reports that the Academic…
Access Bank (Sl) Ltd has strengthened its leadership team with key board appointments and named…
Aigboje Aig-Imoukhuede has been appointed President of the France Nigeria Business Council. At the…
JAMB has released fresh 36,540 UTME Results. NewsOnline Nigeria reports that the Joint Admissions…