The Central Bank of Nigeria (CBN) has thrown more light on why it suspended 19 banks from selling dollar realised from international money transfer services to Bureau De Change in Nigeria. Proceeds from cash transfer through licensed international agencies, like Western Union, Money Gram,...
In its desperation to get a willing buyer of its crude oil and gas, Nigeria has concluded arrangement to turn to China following reports that the...
Nigeria has concluded plans to raise a total of N129.67 billion in treasury bills next week, even as its foreign reserves recorded its worst slip in September 2016, according to the Central Bank of Nigeria (CBN’s) data,released at the weekend. The apex...
Nigerians hoping to build houses in the near future and those in the construction industry have to now reconsider their plans in terms of cost. This...
For the third consecutive weekends, Nigeria’s overnight interbank lending rate has maintained a steady rise, hitting above two-digit percentage rise. The rate in the months of...
The slide of the value of naira has started impacting negatively on Nigeria’s foreign exchange reserve (FER), which has suffered a 15 per cent drop in...
The recent directive by the Central Bank of Nigeria (CBN) limiting the number of international money transfer operators (IMTOs) from 15 to five has continued to...
Foreign airlines in Nigeria have expressed concern over the persistent scarcity of dollars and fall of the naira value, both of which have started having a...
The presidency has reacted to criticisms trailing the directive made by the Central Bank of Nigeria (CBN) to banks to sell dollar to intending hajj pilgrims...
The Nigerian currency, the naira, collapsed to an all-time low, exchanging for 400 per dollar at the parallel market on Friday. No official reason was adduced...
Apparently disturbed by the continuous slide of the naira, the Central Bank of Nigeria on Friday rose to the challenge by injecting $5 million to the...
If the current effort by Nigerians living outside the shores of the land is sustained, naira, the local currency will soon regain some lost grounds against major currencies. Last year alone, Nigerians abroad sent $31.5 billion home and have...
The Nigerian currency, naira, fell N351 to the United States dollar at the parallel market and slightly to 282 at the new interbank market on Monday....
The Naira strengthened against the dollar to close at 281.50 to the dollar on Wednesday, its first daily gain since the Central Bank of Nigeria (CBN)...
The Central Bank of Nigeria (CBN) has set the stage for the devaluation of the naira, as it said on Wednesday that it will allow the...
In retrospect, President Muhammadu Buhari’s recent visit to China may have yielded some fruits. Besides signing a $6 billion deal to fund joint infrastructure projects, the...
The Federal Government has denied that President Muhammadu Buhari signed a currency swap deal with the Chinese government during his recent trip to China. This was...
By Reuben Abati . . . “My brother, e ku exchange rate oh.” “Excuse me?” “I am greeting you. I am saying how are you and...