Naira gains N15.23 against dollar at official market
The naira on Friday extended its gain, closing the trading week stronger at N1,421.73 to the dollar at the official foreign exchange market.
Data from the Central Bank of Nigeria (CBN) showed that the local currency appreciated by N15.23 or 1.07 per cent compared with N1,436.97 recorded on Tuesday.
The latest gain continues a weeklong positive trend that has seen steady appreciation in the value of the naira.
The local currency traded at N1,452.79 to the dollar on Monday, N1,448.20 on Tuesday, and N1,444.42 on Wednesday.
Financial analysts have lauded the sustained improvement of the naira across both official and parallel markets, attributing the stability to key economic factors.
They cited Nigeria’s removal from the Financial Action Task Force (FATF) grey list, rising oil revenues, improved foreign reserves, and increased diaspora remittances as major drivers of the recent gains. (NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
![Jens Spahn. [PHOTO CREDIT: ZDF]](https://gazettengr.com/wp-content/uploads/Jens-Spahn.jpg)
Heading 4
German lawmaker resigns after backlash for welcoming child through surrogacy
The 46-year-old politician and his party, the Christian Democratic Union (CDU), had backed a ban on surrogacy.
Lagos
Troops nab six suspects in Lagos oil bunkering raid, dismantle site
Mr Yahaya said items recovered during the operation included four drums, two of which contained suspected illegally refined petroleum products.
States
Gov. Yahaya swears in 23 commissioners, 13 aides
Mr Yahaya also urged the appointees to implement policies and deliver good governance during the remaining period of his tenure.
States
Adamawa ADC governorship candidate pledges agricultural reform, improved security
He described Adamawa as an agrarian state with immense potential for economic growth and food security.
Lagos
Lagos lawmaker empowers 60 Apapa residents with fish farming equipment
Mr Adedayo said the initiative was designed to create sustainable livelihoods, enhance food security and improve residents’ economic well-being.
Health
Health experts urge pet vaccination as rabies outbreak claims two lives in FCT
The experts said rabies is entirely preventable through routine animal vaccination and prompt medical treatment after exposure.
