Naira Stability Attributed to Slow Economic Activity

A Senior Economist at the Olabisi Onabanjo University, Ago-Iwoye, Ogun, Prof Sheriffdeen Tella, has attributed the current stability of the naira at the foreign exchange market to slow economic activity.

Tella said that import businesses had reduced drastically as the business community awaited the take-off of the 2019 budget.

Trading at the investors window saw the naira closing at N361.09 to the dollar as market turnover stood at 121.15 million dollars.

The Naira on Thursday remained stable at the parallel market in Lagos, exchanging at N359.3 to the dollar.

The Pound Sterling at N472 and the Euro traded at N402.

At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar. The Pound Sterling traded at N472 and the Euro traded at N402.

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Abdulrahman Obaje

Prince Abdulrahman Obaje is a Media and ICT Consultant, Journalist, online marketer, social media strategist, Mathematician and Computer Scientist based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 908 6937 780 or send i-witness report directly to me on news@informavores.com.ng.