Fitch Solutions, a financial intelligence service provider, has predicted that the naira would slide to as low as N1,993 per dollar in exchange rate by 2028, severely impacting Nigeria’s pharmaceutical industry to import medical devices. In a new report, the company’s subsidiary, BMI Research, said despite an expected rebound in the economy, Nigeria’s medical devices…
The Nigeria Customs Service (NCS) has reduced the exchange rate for import duties collection from N1238.1 to the dollar to N1,147/$. This represents a decline of N91.1 since the last reduction on April 10th April. The customs exchange rate for duties collection has stayed at N1238/$ for over a week now- the longest it has…
The naira on Friday closed on a negative note as it exchanged for N770.17 against the dollar at the investors and exporters window. The naira depreciated by 0.66 per cent when compared with N765.13 for which it exchanged for the dollar on Thursday. The open indicative rate closed at N759.13 to the dollar on Friday….
The Central Bank of Nigeria, CBN, may have devalued the Naira to N631 to the U.S. dollar from N461.6, following President Bola Ahmed Tinubu’s announcement of his critical economic policy direction during the inauguration on Monday. Daily Trust, reports that dollar was sold at the new rate on the Importers and Exporters window on Wednesday….
