Categories: Economy

CBN Begins Measures To Stabilise Naira Against Dollar

The Central Bank Of Nigeria, CBN, has announced planned to take new measures to stabilise naira against dollar.

OSUN DEFENDER reports that the Naira sank further in the foreign exchange market, last week, reaching a record high of ₦955 to US$1 on Thursday, August 10, 2023, sending shockwaves through the Nigeria business sectors.

The Acting Governor of the CBN, Folashodun Shonubi, had announced on Thursday that the Nigerian Naira is significantly undervalued, according to economic modelling using purchasing power parity.

Details later.

Recent Posts

Osun Residents Demand Answers As Adeleke Awards Contract To Deputy Speaker’s Company

Residents of Osun State have demanded an answer from the state government over the award…

3 hours ago

Customs Release 15 Trucks Of Seized Food Items

The Nigeria Customs Service, Sokoto/Zamfara Area Command, has released 15 seized trucks of grains in…

3 hours ago

How Two Suspects Kidnapped Friend To Collect Father’s Gratuity, Murdered Him After Plan Backfired

Two persons Hamim Auwalu, 26, and Ashiru Muhammad, 24, have been arrested by operatives of…

3 hours ago

Ningi Resigns As Northern Senators Forum Chairman

Abdul Ningi, the Senator from Bauchi Central, has stepped down from his position as the…

3 hours ago

NAFDAC Seals 10 Sub-Standard Bakeries, Eight Water Factories In Rivers

As part of its fight against fake products and consumption of substandard goods, the National…

3 hours ago

Fire Engulfs Wuse Market In Abuja

The popular Wuse market in the Central Area of Abuja, the Federal Capital Territory (FCT) has…

4 hours ago

This website uses cookies.