naira

An official with the bank denied media reports that there were plans to float the naira and allow it to weaken past its official rate.

The yield on a Federal Government of Nigeria (FGN) Naira bond with 10 years to maturity fell by 81bps to 13.88%, and at 3 years fell by 16bps to 14.64%.

The naira weakened 3.6 per cent to 325.50 per dollar by 9:46 a.m.

For 16 months the Nigerian currency, the naira, has been pegged at 197 to the US dollar while trading up to 370 to the dollar on the parallel market, drawing some criticism of the monetary policy.

He said the CBN has maintained its positions on defending the naira from any further devaluation despite less favourable terms of trade and a drop in foreign investment inflows.

For him, the 212 naira to a dollar exchange rate in the parallel market and 197 in the official market as at 27th August are simply 'not good for business'.

Nigeria's Central Bank has focused on stemming the Naira's decline by introducing measures that have dried up foreign- exchange trading as the economy gets battered by a slide in oil prices, which account for 90 per cent of export earnings and 70 per cent of government revenue.

Nigeria pledged to keep supporting its currency after the naira approached a record low.

It reported pretax profit of 107.1bn naira ($659.4mn) in the first half, down 0.57% from a year ago, on revenues of 208.9bn naira.

The services sector accounted for the largest share of Nigeria's real Gross Domestic Product (GDP) in the second quarter of 2014, amounting to 8.5 billion naira (about 160 naira = US$1) or 53.15%, according to a statement from the National Bureau of Statistics (NBS), made available to PANA here on Monday.

On February 11 the Chairwoman of the NA Standing Committee on European Integration Naira Zohrabyan met with

The New Background Ads will help promote businesses with the entire backdrop of LAGbook's login/signup page for as low as 20,000 Naira ($125) per day.

The Qatar Museums Authority (QMA) has launched "Naira", the discount programme for all QMA employees and their families, giving exclusive discounts and offers at major stores, and a host of other options including retail, hotels and restaurants, and other attractions in Qatar.

Both houses of parliament approved total spending of 4.608 trillion naira ($31 billion) for 2010, sending the legislation to Acting President Goodluck Jonathan to be signed into law.