By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Why Nigeria Is In Foreign Exchange Crisis – Segun Agbaje
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Why Nigeria Is In Foreign Exchange Crisis – Segun Agbaje

Farouk Mohammed
By Farouk Mohammed
Published: April 8, 2016
Share
1 Min Read
SHARE

Segun-Agbaje-GTB-690x450

The Managing Director, Guarantee Trust Bank Plc (GTB), Mr Segun Agbaje, has stated that the decline in oil price at the international market has affected the foreign exchange market.

Speaking at the 326th Bankers Committee meeting on Thursday in Lagos, Agbaje reckoned that the crash in the price of oil has had a telling effect on the Nigerian economy.

“I don’t think there is any secret any more. I believe that in Nigeria, we have all become experts on the foreign exchange market,” he said.

- Advertisement -

Noting that: “But the reality of where we are today is that we are coming from 115 dollars per barrel of oil price to somewhere around 40 dollars.

“We all have to make adjustments because our habits have to change with less money to spend.

“As corporate bodies, you have to invest in import substitution and develop things locally and that is truly where we are. I don’t think there is much to debate.

“We all have to make sure we allocate the scarce foreign exchange we have and make the best out of it”.

- Advertisement -

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Foreign Exchange CrisisNigeriaSegun Agbaje
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Panama Papers, Zuma and The Anatomy Of Corruption – Reuben Abati Writes
Next Article Manchester United Can Beat Anyone Including Tottenham – Fellaini

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit
News
NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”
News
Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured
News
- Advertisement -
Ad imageAd image

You May Also Like

Sport

Victor Osimhen Returns to Nigeria as Al Hilal Transfer Hangs in Balance Ahead of FIFA Club World Cup

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Mike Ejeagha
News

Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95

Muhammad A. Aliyu
Muhammad A. Aliyu
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?