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Foreign exchange Nigeria

Naira Opens Week With Gain Across FX Markets

CBN Sells $20,000 To BDCs At N1,580 As Naira Depreciation Persists

September 7, 2024

In its bid to increase liquidity in the foreign exchange market, the Central Bank of Nigeria (CBN) has offered to sell $20,000 to each eligible Bureau De Change (BDC) operator at a

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How Nigeria Spent $28.65bn On Foreign Education In 10 Years

August 29, 2024

Nigeria spent $28.65 billion on foreign education in 10 years (from 2010 to 2020), with Personal Transport Allowance totalling $58.7 billion. This is according to a report from the Office of the

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st July 2025

Business News·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 19th August 2024

August 19, 2024

What is the Dollar to Naira Exchange rate at the black market, like the Aboki FX? The exchange rate for the US dollar (USD) to Nigerian Naira (NGN) in the parallel market

Weak Naira: CBN Sells $543.5m To Boost FX Market

Business News·Currency·News

CBN FX Retail Auction: How 26 Banks Got $876.26m At N1,495/$

August 7, 2024

The Central Bank of Nigeria (CBN) has announced that it sold a total of US$876.26 million to end users using Retail Dutch Auction System (RDAS). It said the transaction was done by

NASS Increases Customs’ 2025 Revenue Projection To ₦12trn

Business News·Finance & Economy·News

Unstable Customs Duty Exchange Rate Weakens Investors’ Confidence In Nigeria’s Economy – Expert

May 2, 2024

As Nigeria Customs Service (NCS) continues to adjust rate for calculating import duty due to fluctuations in the foreign exchange market, economic expert, Dr Muda Yusuf, has warned that it is hurting

Forex Crisis: CBN Sells $122.67m To 46 Authorised BDC Operators

Finance & Economy

Naira Rebound To N1,400, CBN Clearing Of FX Backlogs: It’s Not Yet Time For Celebration – Expert

March 21, 2024

The clearing of foreign exchange backlogs by the Central Bank of Nigeria (CBN) and the appreciation of the value of the naira in the forex market has cast an air of delight

CBN Raises Benchmark Interest Rate To 26.75% Amid Soaring Inflation

Business News·Finance & Economy·News

CBN Raises Benchmark Interest Rate To 22.75%

February 27, 2024

he Central Bank of Nigeria has raised the monetary policy rate (MPR) by 400 basis points to a record 22.75 per cent. This was announced by the CBN governor, Yemi Cardoso

CBN Directs IMTOs To Use I&E Window Rate To Convert Diaspora Remittances

Business News·Currency

Why CBN Fixed $1m As Capital Requirements For International Money Transfer Operators

February 3, 2024

Central Bank of Nigeria (CBN) has set the bar high for International Money Transfer Operators (IMTOs) with a fixed minimum share capital requirement of $1 million.

How Nigeria Can Curb High Airfares On International Routes

Business News·News

Airlines Receive $62m Windfall As CBN Eases Forex Woes By Repaying Banks $2bn Debt

January 8, 2024

The Central Bank of Nigeria (CBN) has taken a stride in reducing its backlog by repaying $2 billion to Deposit Money Banks, aiming to tackle the escalating volatility in the forex market.

Business News

Fitch Retains Nigeria’s Credit Rating At B-, Predicts Inflation At Below 21%

November 9, 2023

Highlighting Nigeria’s major strengths as large economy, developed and liquid domestic debt market, and large oil and gas reserves, the global rating agency, Fitch, has affirmed the country’s long-term foreign-currency issuer default

Naira Falls To ₦1,530/$ At Official Market After Public Holiday

Business News·Currency

Naira Depreciates To N756/$ In I&E Window

October 5, 2023

In a dynamic twist of events, the Nigerian naira faced a rollercoaster ride in the financial markets on Wednesday. The currency, which had exchanged for N745.19 to a dollar just a day

Business News·Finance & Economy

Politicians’ Dollarization Of Corruption Puts High Pressure On FX – Expert

September 26, 2023

As Nigeria continues to experience foreign exchange (forex) crisis, leading to a steep depreciation of the naira, an economic expert has attributed the cause to activities in the political circle which puts

Business News·Currency

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Foreign exchange Nigeria

CBN Sells $20,000 To BDCs At N1,580 As Naira Depreciation Persists

How Nigeria Spent $28.65bn On Foreign Education In 10 Years

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 19th August 2024

CBN FX Retail Auction: How 26 Banks Got $876.26m At N1,495/$

Unstable Customs Duty Exchange Rate Weakens Investors’ Confidence In Nigeria’s Economy – Expert

Naira Rebound To N1,400, CBN Clearing Of FX Backlogs: It’s Not Yet Time For Celebration – Expert

CBN Raises Benchmark Interest Rate To 22.75%

Why CBN Fixed $1m As Capital Requirements For International Money Transfer Operators

Airlines Receive $62m Windfall As CBN Eases Forex Woes By Repaying Banks $2bn Debt

Fitch Retains Nigeria’s Credit Rating At B-, Predicts Inflation At Below 21%

Naira Depreciates To N756/$ In I&E Window

Politicians’ Dollarization Of Corruption Puts High Pressure On FX – Expert

Gap Between Black Market, Official Window Dollar Rates Now N275.33

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