• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 8, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Naira Sustains Gain On Parallel Market, Weakens To N1,534/$1 On NEFM

by Bukola Aro-Lambo
5 months ago
in Business
naira
Share on WhatsAppShare on FacebookShare on XTelegram

The value of the naira for the second day trading continued its appreciation, while it depreciated on the official end of the market as the Central Bank of Nigeria launched the Nigeria Foreign Exchange Code as part of its ongoing reforms in the foreign exchange market.

Advertisement

By the close of trading on Tuesday, the value of the naira stood at N1,640 a N10 appreciation as against N1,650 which it closed on Monday. This brings its two-day appreciation at the parallel market to N20 or 1.2 per cent from the N1,660 which it closed last week.

However, the naira continued to depreciate at the official end of the market closing Tuesday’s trading activities at N1,534.55 to the dollar as against N1,533.63 which it closed on Monday. The CBN had on Monday released the FX Code which is expected to promote a robust, fair, liquid, open, and appropriately transparent forex market.

The FX Code requires Market Participants to ensure that illegal financial transfers are avoided, and appropriate money laundering policies put in place to protect the integrity of the domestic markets and the global financial framework as a whole.

The apex bank while noting that it seeks a flexible exchange rate regime where the value of the naira is determined by market forces according to the demand and supply of foreign exchange, said “the FX Code is being developed to respond to emerging issues and address the dynamic nature of the financial markets and specifically address emerging challenges in the foreign exchange market.”

RELATED

Nigeria At 64: ‘Foreign Vessels Coastal Water Domination Collapses Indigenous Shipping’

Freight Rate: Nigeria Loses N7.2trn Annually To Foreign Firms – Report

19 minutes ago
CBN Grants RoutePay Licence To Provide Digital Payment Solutions

CBN Imposes $50 Charge On Non-Resident BVN

24 minutes ago

We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Naira
SendShareTweetShare
Previous Post

Decongestion: Customs To Auction Cargoes, Vehicles After 90 Days At Seaports

Next Post

5th Lake Chad Basin Governors Forum Meeting Set To Hold – Commissioner 

Bukola Aro-Lambo

Bukola Aro-Lambo

You May Like

Nigeria At 64: ‘Foreign Vessels Coastal Water Domination Collapses Indigenous Shipping’
Business

Freight Rate: Nigeria Loses N7.2trn Annually To Foreign Firms – Report

2025/07/08
CBN Grants RoutePay Licence To Provide Digital Payment Solutions
Business

CBN Imposes $50 Charge On Non-Resident BVN

2025/07/08
Why We Are Investing In Critical Infrastructure – Mbah
Business

Enugu Air Will Be For Traders, Enugu People – Mbah

2025/07/08
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Equities Market Opens Trading Week With N193bn Gain

2025/07/08
Restore Public Confidence In Judiciary, Panelists Tell Next CJN, Kekere-Ekun
Business

Shettima, CJN, Others Task Judges On Swift, Credible Judgements To Strengthen Capital Market

2025/07/08
NIMR Faces Power Outage Over ₦38m Debt
Business

TCN Adds 250MW To National Grid With New Bauchi Substation

2025/07/08
Leadership Conference advertisement

LATEST

CSOs Defend NEPC Boss Amid Alleged Lapses In Promotion Exercise

NiMet Predicts Flash Flood In Sokoto, Lagos, Benue, Others

Atiku Visits Kano Gov, Says Dantata’s Loss Too Huge

2027: Nasarawa APC Stakeholders Back Tinubu, Sule

Ex-Adamawa Gov’s Wife Dumps PDP, Joins ADC

APC Leaders Pass No Confidence Vote On Bauchi Rep

‘Coalition Can’t Stop Tinubu, APC In 2027’

Freight Rate: Nigeria Loses N7.2trn Annually To Foreign Firms – Report

CBN Imposes $50 Charge On Non-Resident BVN

Enugu Air Will Be For Traders, Enugu People – Mbah

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.