Forex

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The Nigerian economy is looking good in some sectors. This is not a harebrained assessment, despite the high inflation and the unstable exchange rate of the Naira. Those who doubt this don’t need to look far, for a reality check. The…

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The Naira dropped to N1,300/$ at the parallel market on Tuesday. This is as it closed trading on the Peer-to-Peer cryptocurrency window at N1,315.3/$1 on the same day. Some Bureau de Change Operators confirmed the parallel…

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The Nigerian government has expressed optimism that with the measures currently put in place, the nation will soon experience significant increase in the supply of foreign exchange into the economy. Speaking on 2024 Budget and…

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The Economic and Financial Crimes Commission has summoned some officials of the Dangote Group to Abuja to come along with detailed documents on foreign exchange transactions by the conglomerate covering the last nine years. Operatives of…

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The Abuja Chamber of Commerce and Industry (ACCI) has commended the Central Bank of Nigeria’s (CBN) forex policy to unify the foreign exchange. The ACCI stated that it is a welcome development and a big step to improve the ease of doing…

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The all in one import and export window provides room for mutually agreed rates among parties, the Central Bank of Nigeria has said. In a thread of tweets on Friday, the Apex bank highlighted the advantages and features of the new…

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The Central Bank of Nigeria has cautioned Nigerians to resist the urge to succumb to speculative activities of some players in the foreign exchange market, as it puts in place measures to curb the downward slide of the Naira. The Naira…

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Nigeria's Minister of Agriculture and Rural Development (FMARD), Mohammad Mahmood Abubakar, says the country loses foreign exchange to the importation of frozen fish, as Nigeria only produces 1.2 million metric tonnes through the artisanal,…

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The exchange rate at the peer-to-peer market fell further to N591.1/$1 on Tuesday morning, representing a 0.19% depreciation compared to N590/$1 recorded on Thursday, 14th April 2022. Also, exchange rate at the parallel market closed at…

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The International Monetary Fund (IMF) says that the Nigerian currency rate has depreciated by 10.6% per year since 1973. This is according to data analyzed by the IMF and revealed in the “Nigeria: Selected Issues…