The Central Bank of Nigeria (CBN) has threatened to revoke banks’ foreign exchange dealership licenses if they work with International Money Transfer Operators, IMTOs, in violation...
Nigerian currency came under pressure on Thursday as Nigerians began a rush to return their old Naira notes. Black market traders who spoke to Ripples Nigeria...
Hello, and welcome to the Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to...
The Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, on Saturday, decried the effect of the forex scarcity on the nation’s economy. Ripples Nigeria...
On Tuesday, the Naira closed the market with a mixed performance against the US dollar at the foreign exchange (forex) markets. While it strengthened against the...
Nigerian currency recorded a good performance against the US dollar at the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) segments of the foreign exchange (FX)...
Banks in Nigeria have provided updates on modifications to foreign exchange (FX) requests made by Nigerian students targeting schools abroad. The banks announced the changes in...
As Nigerians wondered about the reason behind the current fuel scarcity, the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Wednesday, issued a reason for the...
The International Monetary Fund (IMF) has offered advice to the Central Bank of Nigeria (CBN) on exchange rate management, and how to solve the Naira’s depreciation....
Access Bank has informed its customers that applications to obtain dollars for school fees abroad, maintenance/upkeep requests will now be determined by availability of the foreign...
Bureau De Change operators supplied the dollars at various rates in the black market on Wednesday. To the surprise of many who stormed the black market...
Moody’s Investors Service, one of the leading credit rating agencies, has announced that it has placed on review for downgrading the long-term deposit ratings, as well...
The Naira had a breather on Thursday, October 6th as it appreciated against the United States after two straight days of losses at the Investors and...
On Thursday, Nigeria’s currency recorded a small positive trade against the US dollar. According to data published on the FMDQ website, where forex is officially traded,...
The Nigerian naira, on Wednesday, weakened to N707 a dollar at the parallel section of the foreign exchange market. The figure represents N42 or 7.45 per...
Godwin Emefiele-led Central Bank of Nigeria (CBN) has been accused by the Acting President of the Association of Nigerian Licensed Customs Agents (ANLCA), Kayode Farinto, of...
As Nigeria’s 2023 general election draws closer, and foreign exchange scarcity lingers, foreign investors are cutting down their investment into the Nigerian stock market, and this...
The Managing Director and Chief Executive Officer of Heritage Bank, Ifie Sekibo, said the launch of Lagos Commodities and Future Exchange (LCFE) will unlock investment opportunities...
Nigerian Naira on Tuesday recorded a 1.16% rise in value against the US Dollar in the Investors and Exporters (I&E) segment of the market. According to...
The Central Bank of Nigeria (CBN) RT 200 programme has recorded a massive success as non-oil exporters have ramped up the repatriation of export proceeds through...
Nigerian currency kicked off the month of July with a marginal gain, but pressure from forex scarcity and the Joe Biden administration interest hike provided a...
The rise in foreign exchange is threatening the continuity of aviation operation in Nigeria, according to the Airline Operators of Nigeria (AON), Vice Chairman, and Air...
Nigerian currency continued its depreciation across all forex markets no thanks to a low dollar supply at the official market. According to data obtained from FMDQ...
For the first time in three days, the Nigerian currency appreciated to the United States Dollar at the Investors and Exporters (I&E) segment of the foreign...
Amid lingering forex scarcity, Nigerian banks have instructed their customers looking to buy foreign currency to put in their application 30 days ahead. This is coming...
Amid the lingering forex scarcity and dwindling external reserves, the Central Bank of Nigeria (CBN) has assured that there is enough in the nation’s reserve to...
The Nigerian currency on Wednesday weakened against the dollar at the official market amid increased demand for dollars by Nigerians. FMDQ securities data showed that Naira’s...
In the first four months (January to April) of 2022, the volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign...
The naira on Thursday appreciated on the official market, after two consecutive days of losses to the US dollar. Data from FMDQ securities shows that the...
Naira clinched another gain against the U.S. dollar at the official market on Monday, extending its appreciation at the official market segment to a second trading...
The foreign exchange (FX) supply on the official market affected the performance of the Naira against the United States dollar at the market on Monday, April...
The foreign exchange market ended the first trading week of April with Nigeria’s currency weaker than it started at the Investors and Exporters (I&E) forex window...
The Central Bank of Nigeria (CBN) has sanctioned Guaranty Trust Bank (GTBank), Access Bank, United Bank for Africa (UBA), and Stanbic IBTC for foreign exchange infractions....
Capital importation into Nigeria dropped to $6.7 billion in 2021 as foreign investors ran away from having their money trapped in Naira. The amount recorded in...
As dollar scarcity hits Nigeria’s forex market, frustrated manufacturers and travellers have been forced to patronise Bureau De Change (BDC) operators more often than before. To...
The Minister of Aviation, Hadi Sirika, has called on President Muhammadu Buhari to direct the Central Bank of Nigeria to provide foreign exchange for the importation...
On Thursday, the naira weakend further to the US dollar for the second day in a row, despite the drop in demand at the official market....
Commercial banks have released more names of forex defaulters in compliance with the directive of the Central Bank of Nigeria (CBn) to publish the names of...
On Wednesday, the naira bowed to pressure as foreign currency demand in the official market increased by 37.4 percent. FMDQ reports that at the Investors and...
The Centre for the Promotion of Private Enterprise (CPPE) on Monday cautioned the Central Bank of Nigeria (CBN) on the planned move to stop the sale...
Naira recorded a meagre appreciation against the U.S. dollar at the official market as concerns on the Central Bank of Nigeria (CBN) stopping the sales of...
Nigeria’s next leader after the administration of President Muhammdu Buhari could meet only $29.1. billion in the external reserves the International Monetary Fund has forecasted. The...
Naira fell massively at the black market on Thursday after traders learned that the Central Bank of Nigeria (CBN) was planning to halt dollar sales to...
Nigerian external reserves dropped to $40.1 billion following the withdrawal of $400 million from the reserves by the Central Bank of Nigeria (CBN) in the month...
On Thursday, Naira came under intense pressure at the Investors and Exporter window, the official exchange market, as participants closed $172.99 million worth of transactions. This...
Nigerian external reserves dropped to $40.49billion following the withdrawal of $21.8million from the reserves by the Central Bank of Nigeria (CBN) earlier in the week. Data...
On the second trading day of the year, the exchange rate between the naira and the US dollar closed at N416/$1, at the Investors and Exporters...
The President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said on Monday the black market was in comatose due to...
Pressure from Christmas travellers saw Naira record a 37 kobo or 0.09 per cent loss against the US Dollar at the Investors and Exporters (I&E) segment...
The Naira depreciated again against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange (forex) market on Thursday. According to data...