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Naira rebounds slightly as forex dealers urged to stop hoarding dollars

Posted by Gideon Ayogu
|Date: June 19, 2021
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Naira rebounds slightly as forex dealers urged to stop hoarding dollars

The national currency, the Naira, has rebounded slightly after its seeming freefall. 1st News reports tha ...

The national currency, the Naira, has rebounded slightly after its seeming freefall. 1st News reports that the development comes as the Association of Bureaux de Change Operators of Nigeria formally a ...

June 19, 2021
| by Gideon Ayogu

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Naira falls on black market after forex ban for food imports

Posted by Kingsley Alaribe
|Date: September 15, 2020
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Naira falls on black market after forex ban for food imports

Forex Ban: Naira depreciated by 1.09% to N460 on the parallel market on Monday, days after President Muha ...

Forex Ban: Naira depreciated by 1.09% to N460 on the parallel market on Monday, days after President Muhammadu Buhari ordered the Central Bank of Nigeria (CBN) to halt dollar sales for importation of ...

September 15, 2020
| by Kingsley Alaribe

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CBN goes after exporters who default in repatriating exports proceeds

Posted by Mayowa Oladeji
|Date: August 25, 2020
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CBN goes after exporters who default in repatriating exports proceeds

The Central Bank of Nigeria (CBN) has directed all banks in the country to submit the names, addresses, a ...

The Central Bank of Nigeria (CBN) has directed all banks in the country to submit the names, addresses, and Bank Verification Numbers (BVN) of exporters that have defaulted in repatriating their expor ...

August 25, 2020
| by Mayowa Oladeji

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Banks slash dollar limit on naira debit cards to $100

Posted by Kingsley Alaribe
|Date: August 19, 2020
| 0 comments

Banks slash dollar limit on naira debit cards to $100

Nigerian banks are sending notices to customers about a reduction in the spending limits for their naira ...

Nigerian banks are sending notices to customers about a reduction in the spending limits for their naira denominated debit cards used for paying for transactions abroad. Most of the messages relate to ...

August 19, 2020
| by Kingsley Alaribe

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CBN releases N16b for Anchor Borrowers’ Programme

Posted by Kingsley Alaribe
|Date: July 20, 2020
| 0 comments

CBN releases N16b for Anchor Borrowers’ Programme

The Central Bank of Nigeria (CBN) has released N16 billion for Anchor Borrowers Programme. The Ape ...

The Central Bank of Nigeria (CBN) has released N16 billion for Anchor Borrowers Programme. The Apex bank has also been applauded for its new foreign exchange policy restricting forex access for ...

July 20, 2020
| by Kingsley Alaribe

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Naira crashes to N470/$1, currency uncertainty worsens

Posted by Kingsley Alaribe
|Date: July 16, 2020
| 0 comments

Naira crashes to N470/$1, currency uncertainty worsens

NAIRA: The exchange rate at the parallel market fell to another new 3-year low; closing at N470/$1 on Wed ...

NAIRA: The exchange rate at the parallel market fell to another new 3-year low; closing at N470/$1 on Wednesday, July 15, 2020. However, on the officially recognized NAFEX market, the forex turnover r ...

July 16, 2020
| by Kingsley Alaribe

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CBN stops forex access for maize imports

Posted by Mayowa Oladeji
|Date: July 14, 2020
| 0 comments

CBN stops forex access for maize imports

This move by the CBN could push up the price of maize, adding to rising food inflation. The Central Bank ...

This move by the CBN could push up the price of maize, adding to rising food inflation. The Central Bank of Nigeria (CBN) on Monday, July 13, blocked access to foreign exchange for maize imports as it ...

July 14, 2020
| by Mayowa Oladeji

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Naira falls to another 3-year low at black market as forex liquidity still remains scarce

Posted by Kingsley Alaribe
|Date: July 13, 2020
| 0 comments

Naira falls to another 3-year low at black market as forex liquidity still remains scarce

NAIRA: The exchange rate at the parallel market fell to another new 3-year low on Friday closing at N465/ ...

NAIRA: The exchange rate at the parallel market fell to another new 3-year low on Friday closing at N465/$1. However, on the officially recognized NAFEX Market, the Forex turnover was somewhat stable; ...

July 13, 2020
| by Kingsley Alaribe

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Naira weakens as forex turnover falls by 88%

Posted by Kingsley Alaribe
|Date: July 09, 2020
| 0 comments

Naira weakens as forex turnover falls by 88%

Forex turnover fell by 88% on Wednesday at the I&E window weakening the exchange rate of naira to dol ...

Forex turnover fell by 88% on Wednesday at the I&E window weakening the exchange rate of naira to dollar to N386.76/$1. The exchange rate at the black market however remained flat at N461/$1 for t ...

July 09, 2020
| by Kingsley Alaribe

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FOREX: The risk of buying N460/$1 rate at the black market

Posted by Kingsley Alaribe
|Date: July 07, 2020
| 0 comments

FOREX: The risk of buying N460/$1 rate at the black market

FOREX: If you ask anyone today to choose between being paid in dollars or in naira; there will only be on ...

FOREX: If you ask anyone today to choose between being paid in dollars or in naira; there will only be one winner. Since the oil price crash in early March and the ravaging COVID-19 virus; the exchang ...

July 07, 2020
| by Kingsley Alaribe

| 0 comments

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