• Latest
  • Trending

JUST IN: Naira Hits All-Time Low as CBN Addresses Dollar Backlogs

JUST IN: Davido Named Chairman of Osun Sports Trust Fund

JUST IN: Davido Named Chairman of Osun Sports Trust Fund

THE RIGHT TO LIFE: ABORTION AND EUTHANASIA IN NIGERIA

THE RIGHT TO LIFE: ABORTION AND EUTHANASIA IN NIGERIA

Woman Accidentally Burns Apartment While Killing Cockroach with Spray

Woman Accidentally Burns Apartment While Killing Cockroach with Spray

Outrage as Police Officer Shoots Car Tire for Alleged Stop Order Violation (Video)

Outrage as Police Officer Shoots Car Tire for Alleged Stop Order Violation (Video)

UNILORIN 4Oth Convocation: Fashola Delivers ‘Gen-Z Playbook’

UNILORIN 4Oth Convocation: Fashola Delivers ‘Gen-Z Playbook’

JUST IN: ASUU Suspends Warning Strike

JUST IN: ASUU Suspends Warning Strike

NUC orders closure of Nigerian universities

Strike: University Unions Issue Fresh Ultimatum to FG

Wednesday, October 22, 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 Breaking News

JUST IN: Naira Hits All-Time Low as CBN Addresses Dollar Backlogs

by iDeemlawful
January 31, 2024
in Breaking News, Business News
A A
0

The Nigerian Naira has reached an unprecedented low against the United States dollar in both official and unofficial markets.

On Tuesday, naira has traded at N1,482.57 per $1 at the official market and N1,491.00 per $1 at the parallel market, marking a 10% depreciation from the previous session.

This decline is attributed to the Central Bank of Nigeria’s move to clear dollar backlogs owed to foreign airlines, addressing concerns of inadequate dollar liquidity.

SeeThese

CBN Issues New Directives to Banks on Refund Policy for Failed ATM Transactions

Nigerian Banks resume International Transactions on Naira Cards

CBN opens up on Introducing New N5000, N10000 Notes

The CBN injected an additional $64.44 million into the aviation sector, bringing the total disbursed to $136.7 million.

ADVERTISEMENT

The spread between official and unofficial rates now stands at N8.4, prompting CBN warnings against market manipulation and emphasizing commitment to a transparent market.

In a circular published Monday, the CBN raised concerns over traders reporting “inaccurate and misleading information,” including under-reporting of transaction pricing, which it claimed affects the exchange rate.

“Deliberate attempts to create price distortions by reporting false transaction details amounts to market manipulation which will not be tolerated and will henceforth face sanctions,” the CBN said.

The bank also noted that it is committed to a well-functioning and transparent market that functions on a willing buyer, willing seller basis, with prices quoted and displayed transparently.

Tags: CBNCBN PoliciesDollarNaira
Previous Post

Oyo Governor Attacks Atiku Over Ibadan Explosion For Not Reaching Out

Next Post

CBN Issues New Guidelines to Banks as Naira Hits Low Record Against Dollar

Next Read

Outrage as Police Officer Shoots Car Tire for Alleged Stop Order Violation (Video)
Breaking News

Outrage as Police Officer Shoots Car Tire for Alleged Stop Order Violation (Video)

...

Read moreDetails
UNILORIN 4Oth Convocation: Fashola Delivers ‘Gen-Z Playbook’
Breaking News

UNILORIN 4Oth Convocation: Fashola Delivers ‘Gen-Z Playbook’

...

Read moreDetails
Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks
Breaking News

Former Southern Governor Implicated in Alleged Coup Against Tinubu

...

Read moreDetails
Teen Denies Sexual Assault Allegation Against PDP Chieftain in Kwara
Breaking News

Teen Denies Sexual Assault Allegation Against PDP Chieftain in Kwara

...

Read moreDetails
Wife-battering:  Court Dissolves Pastor’s Marriage
Breaking News

Man Beats Lady Who Rejected His Marriage Proposal

...

Read moreDetails
Man arrested for Raping a 12-year-old girl in Lagos
Breaking News

Police Launch Probe into Officers Filmed Wearing Cult Insignia

...

Read moreDetails
Aba Women Riots, Ali Must Go, EndSar,— Five Major Protests That Shaped Nigeria
Breaking News

Aba Women Riots, Ali Must Go, EndSar,— Five Major Protests That Shaped Nigeria

...

Read moreDetails
Nigerian Military Arrests 16 Officers Over Alleged Coup Plot to Oust Tinubu
Breaking News

Nigerian Military Arrests 16 Officers Over Alleged Coup Plot to Oust Tinubu

...

Read moreDetails
Next Post
Step By Step On How To Deposit Old Naira Notes At CBN Branches And Its Deadline [FRESH]

CBN Issues New Guidelines to Banks as Naira Hits Low Record Against Dollar

TRCN Reacts To NANS Claims of 'Mandatory' Certificate Renewal for Teachers

Leave a Reply Cancel reply

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

iDeemlawful

Copyright © 2019 iDeemlawful.

Useful Links

  • About
  • Advertise
  • Editorial
  • Support

Follow Us

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

Copyright © 2019 iDeemlawful.