Foreign exchange Nigeria

Naira Records First Major Depreciation At Official Market In 2025

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

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

Victor Ezeja

6 months ago

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

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

Victor Ezeja

6 months ago

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 24th October 2024

Business·Currency·Markets

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

Victor Ezeja

6 months ago

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

Business·Currency·Latest News

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

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

Victor Ezeja

7 months ago

NASS Increases Customs’ 2025 Revenue Projection To ₦12trn

Business·Finance & Economy·Latest News

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

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

Victor Ezeja

10 months ago

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

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

Victor Ezeja

11 months ago

CBN Raises Benchmark Interest Rate To 26.75% Amid Soaring Inflation

Business·Finance & Economy·Latest News

CBN Raises Benchmark Interest Rate To 22.75%

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

Victor Ezeja

12 months ago

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

Business·Currency

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

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.

Emmanuel Ochayi

1 year ago

How Nigeria Can Curb High Airfares On International Routes

Business·Latest News

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

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.

Emmanuel Ochayi

1 year ago

Business

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

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

Victor Ezejaand

Admin

1 year ago

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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%

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