• Latest
  • Trending
EFCC Arrests Suspect For Allegedly Defrauding Emir In Kwara of N33m

Currency Traders Lose Millions From Naira ‘Quick Recovery’ Against Dollar

Ebonyi Government Raises Minimum Wage to N90K for Workers

Ebonyi Government Raises Minimum Wage to N90K for Workers

Nigerian Govt gifts Teenager who Won Global English Contest N200K

Nigerian Govt gifts Teenager who Won Global English Contest N200K

President’s Son Jailed Over Secret Sale of National Airline Plane

President’s Son Jailed Over Secret Sale of National Airline Plane

Kogi Final-Year Student Dies During 6-Month Pregnancy Abortion

Kogi Final-Year Student Dies During 6-Month Pregnancy Abortion

Tinubu Govt Backtracks as Japan Denies ‘Special Visa’ for Nigerians

Tinubu Govt Backtracks as Japan Denies ‘Special Visa’ for Nigerians

Delta Police Nab Officers Caught Counting Extorted Cash in Viral Video [Watch]

Delta Police Nab Officers Caught Counting Extorted Cash in Viral Video [Watch]

Uzodimma Raises Imo Minimum Wage to ₦104,000

Uzodimma Raises Imo Minimum Wage to ₦104,000

Friday, August 29, 2025
  • Login
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
iDeemlawful
No Result
View All Result
iDeemlawful
No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
Home Business News

Currency Traders Lose Millions From Naira ‘Quick Recovery’ Against Dollar

by iDeemlawful
August 7, 2022
in Business News
A A
0
EFCC Arrests Suspect For Allegedly Defrauding Emir In Kwara of N33m

Nigerians who decided to buy dollars with the hope of making big gains have been left have been left high and dry as naira suddenly wakened from slumber.

Naira had opened the new week trading at N680- N710 to a dollar, with many experts predicting it could even get worst.

However, since the decision by the Economic and Financial Crimes Commission (EFCC) to raid several Bureau De Change (BDC) hubs in Abuja, Lagos and Kano, the naira has made a big recovery.

On Thursday, at the black market, Naira exchanged at N640 per dollar, a N70 gain in three days.

SeeThese

Nigerian Banks resume International Transactions on Naira Cards

JUST IN: Governor Adeleke cast his votes as Osun LG poll begins

Meranda presides over Lagos Assembly plenary amidst Tension

The sustenance of the recovery remains to be seen, given that the demand for foreign exchange for goods and services has remained constant.

Similarly, at the official market, Data from FMDQ securities, showed that the Nigerian currency strengthened on Thursday to settle at N428.12 to a dollar.

The good performance of the Naira is helped by less pressure from investors and exporters in the foreign exchange market.

Data showed a total of $110.22 million in FX value exchanged hands on Thursday.

Similarly, in the peer-to-peer market, the naira rose to N616.66/$1 on Thursday morning from N652.5/$1 recorded on Wednesday, representing a rally of 5.5% compared to the previous day

Tags: DollariPadNaira
Share196Tweet123SendShare
Previous Post

What We Will Do About Threat To Impeach Buhari – APC Lawmaker

Next Post

Two Notorious Lagos Robbers Shot Dead In Ajegunle

iDeemlawful

iDeemlawful

Next Read

NAFDAC raises concerns as Fake Cowbell Milk Floods Markets
Business News

NAFDAC raises concerns as Fake Cowbell Milk Floods Markets

...

Read more
EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud
Business News

EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud

...

Read more
NCAA orders Phones Off During Flights
Business News

NCAA orders Phones Off During Flights

...

Read more
Nigerian Government Hits Back as US Tighten Visa Rule
Business News

Nigerian Government Hits Back as US Tighten Visa Rule

...

Read more
9mobile Changes Name, Logo
Business News

9mobile Changes Name, Logo

...

Read more
CAC sets Deadline to delist 100,000 Dormant Companies
Business News

CAC sets Deadline to delist 100,000 Dormant Companies

...

Read more
Business News

After $3b repairs, NNPC Considers Selling Nigeria’s 445,000 bpd Refineries

...

Read more
31 African Countries Affected by 3-Month Validity of US Visa: FULL LIST
Business News

31 African Countries Affected by 3-Month Validity of US Visa: FULL LIST

...

Read more
Next Post
Two Notorious Lagos Robbers Shot Dead In Ajegunle

Two Notorious Lagos Robbers Shot Dead In Ajegunle

2023: Yoruba Elders Decide On Tinubu’s Presidency Ambition

2023: Yoruba Elders Decide On Tinubu’s Presidency Ambition

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Senate condemns Libya’s treatment of Super Eagles amid safety concerns

Senate condemns Libya’s treatment of Super Eagles amid safety concerns

Engr. C. O Adebayo Congratulates Commissioner Nominees

Engr. C. O Adebayo Congratulates Commissioner Nominees

REVEALED: Why Ngelale Resigns as Tinubu’s Spokesman

REVEALED: Why Ngelale Resigns as Tinubu’s Spokesman

Most Popular

Ebonyi Government Raises Minimum Wage to N90K for Workers
Featured

Ebonyi Government Raises Minimum Wage to N90K for Workers

Nigerian Govt gifts Teenager who Won Global English Contest N200K
Campus News

Nigerian Govt gifts Teenager who Won Global English Contest N200K

President’s Son Jailed Over Secret Sale of National Airline Plane
International News

President’s Son Jailed Over Secret Sale of National Airline Plane

iDeemlawful

Copyright © 2019 iDeemlawful.

Useful Links

  • About Us
  • Advertise with Us
  • Editorial Policy

Follow Us

Copyright © 2019 iDeemlawful.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In