The Central Bank of Nigeria (CBN) is trying to compel non-oil exporters to process dollar proceeds through local lenders to improve dollar liquidity and shore up...
The Central Bank of Nigeria (CBN), together with the Bankers’ Committee, said it would impose sanctions on exporters who refused to repatriate forex proceeds from their...
The Central Bank of Nigeria (CBN) said it would eradicate the abuse of foreign exchange and other practices by dealers, capable of affecting goods purchased by...
Naira fell by 1.04% on Tuesday to a new low of N480 against the United States dollar on the black market following government’s declaration of its...
Naira appreciated against the United States dollar at the over-the-counter spot market, popularly called the Investors and Exporters (I&E) window on Monday, closing at N385.78. It...
The naira closed stronger against the United States dollar at the over-the-counter spot market also called the Investors and Exporters (I&E) window on Monday, exchanging at...
Tier 2 Bank, Fidelity Bank Plc said it had reviewed its card spending limit downward as Nigeria grapples with a severe foreign exchange crunch across various...
Naira weakened against the United States dollar across foreign exchange market segments on Tuesday as Nigeria confronts an enduring liquidity crunch that had seen its foreign...
Naira appreciated against the United States dollar on Monday on the over-the-counter spot market used by investors and exporters as well as at the black market...
MTNN sees its profit margin dropping by nearly half a percentage point in 2020 as its tower services, which it leased from another company, reel from...
Naira hovered at the rate of 472 to the United States dollar on the parallel market on Tuesday, the same rate it sold for the session...
The exchange rate of naira closed at N470 to the United States’ dollar at the unofficial parallel market on Wednesday, signalling a 1.1% markdown from that...
The rates of exchange of the naira to the United States dollar remained unchanged across various segments of the foreign exchange markets on Tuesday in spite...
The Central Bank of Nigeria (CBN) Monday directed banks to instantly halt the processing of new imports documents, seeking to bring maize into the country. It...
Naira fell 5.5% on Tuesday against the United States’ dollar on the official market, four days after the Central Bank of Nigeria weakened it by selling...
The Nigerian National Petroleum Corporation (NNPC) might end up being the major importer of fuel in the country as petroleum products marketers in the country confront...
Nigeria’s currency, the Naira advanced against the U.S. dollar at the Investors and Exporters (I&E) window of the foreign exchange (forex) market on Wednesday, rising to...
Naira made a rally against the U.S. dollar at the parallel market segment of the foreign exchange (forex) market on Tuesday. Market data obtained from exchange...
Naira traded at N460 to the U.S. dollar on the parallel market Thursday, having stayed at the same rate of exchange for two days without budging,...
The Association of Bureaux De Change Operators of Nigeria (ABCON) Wednesday warned members and speculators in the currency market to abstain from the practice of putting...
Goods with local equivalents will no longer have the foreign exchange (forex) support of the central bank to import them as Nigeria grapples with a rapidly...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities...
John Campbell, a former United States Ambassador to Nigeria has explained why Nigeria is experiencing a shortage of Foreign Exchange as countries around the world grapple...
The Naira may continue losing value at the parallel market segment of the currency market as demand for dollar intensifies from accumulation of past foreign exchange...
Foreign investors in Nigeria, interested in transferring their funds abroad, will not face hurdles in doing so despite the current economic condition, the Central Bank of...
The Naira sold for N430 per dollar at the parallel market on Monday days after the central bank recommenced foreign exchange sales, thus posting some gain over...
The U.S. dollar sold for N450 at the parallel market last Friday, having depreciated by 4.6% or N20 compared to the value at which it closed...
In a bid aimed at tightening regulatory controls in the Foreign Exchange (Forex) market and rein in dollar supply, the Bankers Committee has issued a directive...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities while not...
In furtherance of its intervention in the inter-bank Foreign Exchange market, the Central Bank of Nigeria (CBN) on Friday said it had injected $218.41 million into...
The signing of the Finance Bill into law by President Muhammadu Buhari on Monday has begun to have sweeping reverberations in the public space as the Organised Private...
The economic report of the Central Bank of Nigeria (CBN) has revealed that the Nigerian economy recorded a total foreign exchange inflow of $58.01 billion between...
Nigeria’s power generation and distribution companies have warned of the possibility of a blackout all over the country, if the Federal Government fails to grant their...
Ahmed Kuru, the Managing Director and Chief Executive Officer of the Asset Management Company of Nigeria (AMCON) has ascribed the high incidence of airline failure in...
On behalf of our voiceless compatriots, we feel the need to apprise you with the unpalatable result of this subsisting shutdown of our borders. Sir, the...
Since the news broke on restriction of Forex for food importation, experts and the general public have reacted with divergent views. A category went left with...
The Central Bank of Nigeria, CBN, has said that it sold $4.47 billion forex to authorised dealers between April and May, 2019. The CBN stated this...
The Central Bank of Nigeria (CBN) on Tuesday said $210 million had been freshly injected to boost the Nigerian foreign exchange market. The apex bank had...
The internet-bank Foreign Exchange was on Tuesday boosted by the Central Bank of Nigeria, CBN, with the injection of another $210 million. This was disclosed by...
The Governor of the Central Bank of Nigeria (CBN) Mr Godwin Emefiele has faulted the position of the Lagos Chamber of Commerce and Industry, LCCI, that...
The Central Bank of Nigeria (CBN) has injected $289.76million into the retail secondary market intervention sales and CNY38.70million into the spot and short- tenored forwards segment...
The Minister of Agriculture, Chief Audu Ogbeh, has commended the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele for introducing a list of restricted...
The Central Bank of Nigeria has said it is planning to increase the number of items on its foreign exchange restricted items to 50 from 42....
The Central Bank of Nigeria (CBN) on Friday, intervened in the Retail Secondary Market Intervention Sales by injecting the sum of $263 million, the first in...
SANCTIONS await banks, their customers and businesses that abuse the Central Bank of Nigeria’s (CBN’s) policy restricting foreign exchange (forex) allocation to 41 items. Culprits are...
The Central Bank of Nigeria (CBN) has said it was ready to partner with the Economic and Financial Crimes Commission (EFCC) in order to expose and...
The nation’s foreign exchange (forex) reserves have lost over $374 million within three weeks, the latest data from the Central Bank of Nigeria (CBN) obtained by...
The Central Bank of Nigeria (CBN) has said the Nigeria-China currency swap deal will not cover the importation of the 41 items already prohibited from the...
The Senate, on Wednesday, declared that over N30 trillion has been round tripped by virtually all the commercial banks in the country from 2006 till date...
In its bid to finding lasting solution to the dwindling fortune of the naira, the Central Bank of Nigeria CBN) has revisited its foreign exchange market...
