Nigeria’s Naira crashes to N415/USD1, ban on banks lingers

27 August 2016, Lagos — Amidst lingering dispute between Central Bank of Nigeria, CBN, and eight banks banned from participating in the inter-bank foreign exchange market, the local currency, Naira, has suffered further bashing, depreciating to N415/ USD1 yesterday in the parallel market, bringing total weekly loss to N20 per dollar. But the inter-bank market […] More »