It was a rain of Naira in Lagos on September 11, 2013, for the distributors of Dangote Cement as the management of the company splashed about N800 million on them as their sales bonus for 2012. The excited distributors from all states of the federation including Abuja, received various sums […]
Tag: Naira
Nigeria naira closes flat as banks short U.S.dlr
Nigeria’s naira traded flat on the interbank market on Monday as lenders exited the U.S. currency to cover their funding needs on the local currency amid tight naira liquidity. The central bank withdraw 242 billion naira from the banking system two weeks ago to enforce a new cash reserve […]
Nigerian naira weakens to fresh 20-month low
Nigeria’s naira weakened to a fresh 20-month low against the U.S. dollar on the interbank market on Friday, as direct central bank forex sales to lenders failed to meet demand, traders said. The naira closed at 164.1 to the dollar, compared with a 163.6 close on the previous day. The […]
