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Trending News: Nigeria’s Inflation Rate Drops to 23.18% in FebruaryJandor Defects to APC, Cites PDP’s Internal CrisisBREAKING: Rivers Assembly prepares ground to impeach Fubara, DeputySt. John’s, UConn, and Auburn Top March Madness seeding NYSC Silent Amid Allegations of Threats Against Corps Member Over Viral Video Criticizing TinubuTUC Urges FG Not to Target Corps Member Over Viral Video Criticizing TinubuPolice Arrest Two Suspects for Beheading 10-Year-Old Boy in AdamawaNDLEA intercepts US, Saudi Arabia-bound cocaine, others, arrests 26 die as truck rams Into vehicles, pedestrians in OnitshaDivorce rate worries cleric, educationist, othersPolice Officer Dies from Self-Inflicted Gunshot in Ogun, Investigation UnderwayManchester United Triumphs 3-0 Over Leicester CityZelenskiy Appoints New Chief of General Staff to Accelerate Military ReformsChelsea’s Champions League Hopes Suffer Blow in Defeat to ArsenalNewcastle United Ends 70-Year Domestic Trophy Drought with Carabao Cup VictoryHabu Gumel Re-Elected ANOCA Treasurer-General UnopposedSERAP tackles Akpabio over failure to reverse suspension of Akpoti-UduaghanWhat I said about Obasanjo-UmahiPresidency: Tinubu Focused on Economic Policies, Not 2027 ElectionAuchi Catholic Diocese Criticizes Security Agencies Over Kidnapped Priest’s OrdealNAF neutralises 20 terrorists in KatsinaPolice rescue 4, neutralise 6 kidnappers in AbiaValueJet Becomes Official Airline Partner of NFFNigeria Overpowers South Africa to Reach Final Round of U17 Women’s World Cup QualifiersEl-Rufai expresses regret over Tinubu’s presidency, cites past scandalsAppeal Court ruling: Kano Govt. committed to rule of law-CommissionerIjaw Women Protest in Rivers, Block Wike’s Visit Over Controversial RemarkAkwa Ibom Govt Reaffirms Commitment to Maritime Development, Deep Seaport ProjectNAFRC Graduates Officers from Entrepreneurship and Management CourseNigeria must rise above religious bigotry- Tinubu58-Year-Old Man Dies by Suicide After Jumping Into Well in OgunShipping association urges FG to dialogue over 15% port chargesBorno governor distributes vehicles, houses to security agenciesA’Ibom CJ visits correctional centres, pardons 55 inmatesPolice in Edo confirm killing of Seminarian by kidnappers, rescue Reverend FatherRivers Assembly Faction Adjourns Indefinitely Amid Budget TensionsNeymar Ruled Out of Brazil Squad for World Cup Qualifiers Due to InjuryOsimhen’s Hat-Trick Fires Galatasaray to VictoryCristiano Ronaldo Storms Off After SubstitutionCourt of Appeal Halts Reinstatement of Sanusi II as Emir of KanoFIBA Executive Committee Reviews Key Basketball Initiatives for 2025 and BeyondMessi Scores on Return as Inter Miami Secures Quarterfinal Spot in Concacaf Champions CupPDP Disowns South-South Zonal Congress, Inaugurates Caretaker CommitteeBuhari worse in corruption in Nigeria’s democratic history-ObasanjoTragic High-Speed Crash Claims Multiple Lives on Abuja-Makurdi HighwayManchester United Into Europa League Quarter-FinalsTiger Woods and Vanessa Trump Spark Romance RumorsRivers Hoopers Strengthen Squad with Madut Akec and Jackson Okoi for BAL Season FiveRivers Political Crisis: ALDRAP Petitions Supreme Court to Review Judgment Restoring 27 LawmakersBauchi Governor, Bala Mohammed, Seeks Alliance with Peter Obi to Strengthen Opposition PoliticsAkwa Ibom, Bayelsa Lead as Niger Delta Sports Festival Trials BeginReal Madrid Prevail in Penalty Drama, Arsenal and Aston Villa AdvanceOzekhome seeks aggressive fight against political corruptionObasanjo Slams Lagos-Calabar Coastal Highway, Tinubu’s AdministrationIsrael partners Nigeria in advancing economic growth through artsPolice applaud Anambra residents for defying sit-at-home orderAmaju Pinnick Reflects on FIFA Council Election Loss with GratitudeAmaju Pinnick Loses FIFA Council Re-Election by One VoteWike: Fubara’s impeachment not a criminal offenceAppropriation bill: Fubara denied access to Assembly quarters complexAfDB, IITA sign $27m agreement to boost agricultural transformation in AfricaKogunan Sokoto Commends President Tinubu’s Efforts in Promoting ReconciliationWe’ll fully comply with S/Court’s Judgment – FubaraWhy I gave fake testimony at Zion Ministry-LovethPSG Edges Liverpool on Penalties to Secure Quarterfinal SpotTanker explodes under Otedola Bridge, razes property worth billionsSuspected Fulani herders kill 30 in Ondo, Benue, Nasarawa, and Edo, Protests EruptSuspended Senator Natasha Akpoti-Uduaghan Petitions IPU Over Akpabio, Alleged HarassmentTransmission ‘lines cut’ affected bulk power supply to Lagos -TCNHouse of Reps Orders Nationwide Shutdown of Porn WebsitesNto calls for all-out farming push to tackle food shortagesSuper Eagles Coach Announces 23-Man Squad for World Cup QualifiersNigeria to Host Programme on the Negative Effects of Drug Abuse Among Secondary StudentsPinnick Poised for FIFA Council Re-Election as CAF Holds Crucial Polls in CairoNaira Weakens to N1,530/$ at Official Market Despite CBN InterventionsNNPC clarifies Naira crude contract with Dangote RefineryPDP, Rivers Government Reject APC’s Call for Fubara’s Resignation or ImpeachmentDeciders here in UEFA Champions league beginsTinubu renames Kano University after Yusuf Maitama SuleMasaccre in Ondo as gunmen raid 4 communitiesResign or be impeached, Rivers APC tells Fubara8 burnt to death in Edo road crash-FRSCMan bags life jail term for kidnapping traditional ruler in EkitiEl-Rufai Dumps APC for SDP, Cites Party’s Deviation from Progressive Ideals20,100 candidates register for 2025 UTME in JigawaLookman Seals Juventus’ Worst Defeat of the SeasonRivers Crisis: Governor Fubara Invites Amaewhule-Led Assembly for TalksSaraki to Akpabio: Face Reality and Do What Is RightKelvin Amayo Rejoins Rivers Hoopers for 2025 BALSmall Plane Crashes in Pennsylvania Neighborhood2027: Uba Sani’s return as Kaduna governor my major interest – Shehu SaniPDP fixes April 12 for S’South, N’West, N’Central zonal congressesAbacha Family Accuses Babangida of June 12 Election AnnulmentKing Charles III Reveals Admiration for Davido, Says Singer Made Him Love Pidgin EnglishNew Nigeria possible if citizens commit to integrity, justice —KaigamaNigeria, UAE to resolve visa for NigeriansRescind unlawful suspension of Natasha Akpoti or face legal action, SERAP tells AkpabioUN marks 30th anniversary of Beijing Declaration, reaffirms women’s rightAtiku Denies Defection Rumours, Reaffirms Commitment to PDP4 dead, 14 injured in Umuahia crash
Tue. Mar 18th, 2025

Naira Weakens to N1,530/$ at Official Market Despite CBN Interventions

 

The naira continued its decline against the U.S. dollar at the official foreign exchange market on Monday, despite policy interventions by the Central Bank of Nigeria (CBN).

According to CBN data, the naira depreciated to N1,530.15 per dollar, down from N1,517.24 last Friday, marking a loss of N12.91 within a day.

Parallel Market Holds Steady
In contrast, the black market exchange rate remained stable at N1,580 per dollar, unchanged from last Friday’s rate.

CBN’s Struggles to Stabilize the Naira
Financial expert Bismark Rewane, CEO of Financial Derivatives, revealed that the CBN has spent approximately $8 billion in recent months in a bid to defend the naira against further depreciation.

The persistent decline of the naira raises concerns about the effectiveness of ongoing forex policies and market stability.

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