The Naira on Friday depreciated against the dollar at the parallel market after posting days of appreciation. The nation’s currency lost N7 to exchange at N465 to a dollar after closing at N458 on Thursday, while the Pound Sterling and the Euro traded at N542 and N480. At the Bureau De Change (BDC) window, the […]
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The Central Bank of Nigeria (CBN) said the recent appreciation of the Naira against other currencies was the result of its market monitoring and intervention. The acting Director, Corporate Communications of the CBN, Mr Isaac Okorafor on Thursday in Sokoto refuted the claim that the allegations by Mr Babatunde Gbadamosi on the illegal sales of […]
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For the first time since eight days ago when the Central Bank of Nigeria (CBN) adjusted the foreign exchange policy, the naira maintained its rate of N450 to a dollar at the parallel market. According to NAN, the pound sterling and euro crashed further at the parallel market, exchanging at N535 and N460 respectively, while the […]
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The naira moved to 515 per dollar on Tuesday, following the introduction of new policy actions by the Central Bank of Nigeria (CBN). The naira, which was trading at 520 to the dollar on Monday, after falling from 510 the previous week, firmed on Tuesday evening, at the parallel market. Nigerian Stock Exchange (NSE) also […]
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The Central Bank of Nigeria (CBN) says every Nigerian, 18 years or older, is entitled to $4,000 per quarter of $16,000 per year for personal travel allowance (PTA) under the guidelines for the adjusted foreign exchange policy. On Monday, CBN announced adjustments to its existing foreign exchange policy, directing banks to open sales point across […]
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As part of efforts to alleviate the hardship experienced by Nigerians in need of forex for school fees, traveling allowance and medical treatment, the Central Bank of Nigeria (CBN) has provided additional forex to financial institutions across the country. Isaac Okorafor, the acting director, corporate communications of the Central Bank of Nigeria, made this disclosure […]
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The Naira on Monday appreciated at the parallel market after a two-week losing streak. The currency gained three points to exchange at N490, from N493 it posted last Friday, while the pound sterling and the euro traded at N600 and N506, respectively. At the bureau de change window, the naira closed at N399, the CBN […]
Continue ReadingThe Naira on Friday appreciated against the dollar at the interbank market, after sustaining losses for two days, the News Agency of Nigeria (NAN) reports.The Nigerian currency gained N5.28 to close at N307.79 from N313.07 posted on Thursday. Trading at the Bureau De Change (BDC) segment of the market showed that the Naira exchanged at […]
Continue ReadingThe Pharmaceutical Society of Nigeria has spoken about the effect that foreign exchange scarcity in the country is having on manufacturing and importation of drugs to the country.It was categorically stated that if the Federal Government fails to take measures to tackle the crisis, it could lead to a “national health calamity” among Nigerians. The […]
Continue ReadingThe Central Bank of Nigeria (CBN) has deleted the United Bank for Africa (UBA) from the list of nine deposit money banks (DMBs) banned from the foreign exchange market, for hiding over $2 billion belonging to Nigerian National Petroleum Corporation (NNPC) from the Treasury Single Account (TSA). CBN has re-admitted UBA Plc into the Foreign […]
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