NewStats: 3,261,305 , 8,173,648 topics. Date: Wednesday, 28 May 2025 at 07:34 PM 6f574

The naira, on Friday, appreciated to N1,280 per dollar at the parallel section of the foreign exchange (FX) market.

The current FX rate signifies a 5.19 percent appreciation from the N1,350/$ reported on March 27.

Currency traders in Lagos, also known as bureau de change (BDCs) operators, quoted the buying rate of the greenback at N1,260 and the selling price at N1,280 — leaving a profit margin of N20.

“The price of the dollar as well as other major currencies have been falling. It is affecting our business as some customers prefer to keep their currencies than change it with us,” a currency trader identified as Aliyu told TheCable.

At the official section of the FX market, the local currency depreciated by 0.69 percent to N1,309.39/$ on March 28 — from N1,300.43/$ on March 27.

Meanwhile, the Central Bank of Nigeria (CBN), on March 29, said the economy recorded over $1.5 billion in foreign exchange (FX) inflow this month, indicating its monetary policy initiatives are effective.

The apex bank said the naira is headed in the right direction, and the istration of Yemi Cardoso, CBN governor, remains committed to ensuring the stability of the market and the appropriate pricing of the naira against other major currencies worldwide.

https://www.thecable.ng/naira-appreciates-to-n1280-at-parallel-market/amp?/naira-appreciates-to-n1280-at-parallel-market

This government is full of propaganda.

Here’s your proof:

https://nairaland.unblockandhide.com/8046241/fact-checking-numbers-cbns-announcement

We thank baba God.

Those praying for Nigeria to fail will not like this news.

All their states are filled with corruptions and non performing politicians but they careless about that.

They filled all the social media platforms with hate and negative narratives about Nigeria 🇳🇬 publicly praying for the country leadership to fail.

Don't worry, you will all reap what you sow.

I Know some people won't be happy about this good news ..

See..when we talk about economics one can see that president tinubu knows the subject very well .

Truth is FG is selling lower and lower everyday to try and establish that sweet spot where demand equates supply. I hope they ve not exceeded that spot and resumed defence of one currency.

Lol,

Oshiomole style of leadership as NLC chairman.

They both know fuel will increase by N5. Government Increase fuel by N10. Everyone shouts and Oshiomole jumps round the Country.

Fuel reduces by N5. The original plan of the government, Masses say Fuel has reduced and Oshiomole try oooo.

Tinubu increases exchange rate to N1880. They know the economy is N1300-1400.

They bring it down to N1300-1400. Masses scream, Naira is appreciating.

I am forced to ask; Naira is appreciating from where ? Where did the present government meet it?


You can see the smoke and screen?

Developers on reading this...

I guess it's time to buy, traders advise me

I expect 4 sets of people to land on this thread:

1. The "dollar should go back to the #600 it was before the floating" crew;

2. The "enemies of Nigeria won't be happy with this news" crew;

3. The "when will the prices of goods reduce" crew.

4. The "non- partisan and unbiased news reader" crew.

The irony now is that prices of goods are not depreciating. Nigerian economy defiles all known economic laws.

With d way it went up rapidly, it will come down d same way

Thank goodness!

socialmediaman:
This government is full of propaganda!

Here’s your proof:

https://nairaland.unblockandhide.com/8046241/fact-checking-numbers-cbns-announcement

where's the propaganda
you guys are something else.

socialmediaman:
This government is full of propaganda!

Here’s your proof:

https://nairaland.unblockandhide.com/8046241/fact-checking-numbers-cbns-announcement

Must you against everything? Àbí enemy of progress ni e ni🤫

Wow

Good one

The set of enemies working out their assses to see Nigeria doesn't get out of the woods will sure be in pains. Some of the devils said the exchange rate will be 3000/$ before the end of March. All because Nigerians rejected their packaged fraud. Some of them are doing useless fact check over what is in public domain. They say it is propaganda and I ask, how can something that is visible to blind and audible to the deaf be propaganda again.

The prices of goods which is a direct effect of naira depreciation are still high. Yet his useless ers are celebrating shit.
BIG SHAME

Not huru yet

Like I said a long time ago, it’s was going to get hard and then get right. It’s not supposed to be easy, that’s not life.

vowiski:
Lol,

Oshiomole style of leadership as NLC chairman.

They both know fuel will increase by N5. Government Increase fuel by N10. Everyone shouts and Oshiomole jumps round the Country.

Fuel reduces by N5. The original plan of the government, Masses say Fuel has reduced and Oshiomole try oooo.

Tinubu increases exchange rate to N1880. They know the economy is N1300-1400.

They bring it down to N1300-1400. Masses scream, Naira is appreciating.

I am forced to ask; Naira is appreciating from where ? Where did the present government meet it?


You can see the smoke and screen?

do u understand why d naira went up in d first instance?

It's getting better...

socialmediaman:
Fact Check everything! This government is full of propaganda.

Here’s your proof:

https://nairaland.unblockandhide.com/8046241/fact-checking-numbers-cbns-announcement

NO BE LIE BRO.

I am afraid the news is not what you like to hear for reasons best known to you.

I bought it 1280naira in Abuja here yesterday
And it will continue to fall because most BDCs are willing to sell

I'm optimistic and believe that this country will be great... awọn enemy of progress go and park well

If you are holding for the sake of thinking it would rise again, then I urge you to Rethink cos this down wen he dey go so ehn na long thing ooo.

No, Rufai Oseni won't be happy.

It is because of this Rufai Oseni did not come to work yesterday.

I have not seen a human being so vile, hateful and peddles evil about his own country.

The only time ordinary Nigerians will celebrate this audio naira appreciation is when prices of goods and services drop astronomically same way everything went up astronomically.


Tinubu and his team of failures can only deceive their empty headed gullible low IQ followers

Happy the naira is apprciating in value but no concurrent effect on the inflation level at the moment but hopefully stability will come with time.

socialmediaman:
Fact Check everything! This government is full of propaganda.

Here’s your proof:

https://nairaland.unblockandhide.com/8046241/fact-checking-numbers-cbns-announcement

Posting the useless thread you created to counter this report is nothing but a symptom of pain. Fact checking my hairy balls. Go to bdc agents to prove this report wrong, not one hatefilled fact check bunkum. The God of over 200 million Nigerians is billion lightyears ahead of few hateful ipobidients.

Tinubu should at least leave it where he met it.

The same for pump price of fuel, leave it where you met it in the very least.

We can't still be paying subsidy and buying fuel at over 600naira.

Hmmm