Nigeria’s naira is over-valued by around 10 to 20 percent, the International Monetary Fund’s (IMF’s) country…
Tag: CBN
CBN to sell dollars to fuel importers, airlines
The Central Bank of Nigeria (CBN) said on Tuesday it will offer dollar forwards to be…
CBN directs banks to pay cash to forex users, injects $240m into market
The Central Bank of Nigeria (CBN) on Monday directed all banks to pay cash over-the-counter to…
LCCI flays monetary policy recommended by IMF
The Lagos Chamber of Commerce and Industry (LCCI) says the tight monetary policy recommended for Nigeria…
CBN vows to continue forex intervention
The Central Bank of Nigeria (CBN) on Sunday reiterated its determination to sustain the provision of…
CBN introduces new FX rate for BDCs
The Central Bank of Nigeria has reviewed down the rate at which it was selling dollars…
MD lauds FG for banning tomato paste importation
The Managing Director of Dangote Tomato Processing Company, Kadawa, Kano State, Alhaji Abdulkarim Kaita, has commended…
CBN crashes dollar to N360
Banks are to sell dollar at N360 for travel allowances, tuition and medical fees. A statement…
Nigeria sets new naira rate in attempt to lure consumers away from black market
Nigeria set a new naira exchange rate on Monday for consumers with certain foreign expenses and…
CBN introduces new forex rates
The Central Bank of Nigeria (CBN) on Monday introduced new forex rates and would no longer…
Naira Gain: Bureau De Change operators lose N130m
The President, Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, has…
External reserves drop for first time since December
The nation’s foreign exchange reserves, which had increased significantly in recent months to hit the $30bn…