Armani Express

  Naira rebounds as banks offload excess dollars. Ahead of the midnight February 1, 2024 deadline given by the Central Bank of Nigeria to commercial banks to sell all excess foreign exchange holdings, Deposit Money Banks on Thursday made frantic efforts to offload their surplus dollar stocks. It was learnt that the treasury departments of the DMBs spent the entire day battling to sell their excess FX holdings. Officials processed several foreign exchange request forms of their customers as they sold more dollars to them, The PUNCH gathered. The increase in the level of forex sale activities at the official foreign exchange market, it was learnt, led to the rebound of the naira at the parallel market on Thursday. Several top bank executives, who spoke to The PUNCH on condition of anonymity because they were not authorised to speak on the matter, confirmed there were huge forex transactions in the banks.

  Nigeria Ranks 109th Out Of 125 Countries In 2023 Global Hunger Index - Politics - Nairaland In the 2023 Global Hunger Index, Nigeria ranks 109th out of the 125 countries with sufficient data to calculate 2023 GHI scores. With a score of 28.3 in the 2023 Global Hunger Index. Nigeria has a level of hunger that is serious. Nigeria ranked 103 out of 121 Countries in 2022.

  Naira Trades At ₦1,520 Per Dollar - Business - Nairaland The naira depreciation caused the currency to fall further to N1,520.123 to a dollar, data from trading platform Naira Rates revealed Wednesday. This is against the currency’s depreciation to N1,482.75 per dollar recorded in the official foreign exchange market on Tuesday, amounting to a N38 depreciation for the naira under 24 hours. Tuesday’s fall made it the first time after the COVID-19 period that the official exchange rate will be higher than the parallel market exchange rate, which traded at N1,470 per dollar from N1,425 on Monday. The monetary policy of President Bola Tinubu’s government played a huge role in the further downward slide of the naira after he floated the currency. Mr Tinubu’s economic policy scrapping fuel subsidy and collapsing multiple foreign exchange windows into the single Importer and Exporter, or I&E window, drastically depreciated the naira’s value by 98 per cent, a report by the Price Wate...