Nigeria’s external reserves has hit $40.4 billion – its highest level since October 2014. This represents an increase of about $1 billion between December 2017 and January 2018. Isaac Okorafor, spokesman of the Central Bank of Nigeria (CBN), disclosed this in a statement on Monday. He said the new figure makes true, the projection which […]
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The Naira on Wednesday exchanged at N361.50 to the dollar at the parallel market, maintaining same rate for the past one-week. Also, the Pound Sterling and the Euro traded at N475 and N425, respectively. At the Bureau De Change, BDC, window, the naira was sold at N361.50, while the Pound Sterling and the Euro closed […]
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The Central Bank of Nigeria (CBN) has injected $142.5 million into the inter-bank foreign exchange, days after intervening in the retail segment of the market with $254.3 million. The spokesperson of the apex bank, Mr Isaac Okorafor, in a statement, said on Monday that CBN would continue to carry out its regular mediation in the […]
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The Central Bank of Nigeria (CBN) on Tuesday intervened in the inter-bank market to the tune of $482.6 million in the first trading day after the democracy day celebrations. This is coming at a time when the country’s reserves is experiencing a steady and gradual decline. A statement issued by Isaac Okorafor, acting director, CBN […]
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The naira on Monday stabilised against the dollar at the parallel market, the News Agency of Nigeria, NAN, reports. The Nigerian currency traded between N380 (buying rate) to N385 (selling rate) on Monday afternoon, maintaining the same rate as at Friday. The naira closed at N495 to pound sterling and N415 to Euro at the […]
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The Naira on Thursday strengthened against the dollar in all the major segments of the market. At the parallel market, the Nigerian currency gained five points to exchange at N385 to the Dollar from the N390 recorded on Wednesday. The Pound Sterling and the Euro traded at N495 and N410, respectively. At the Bureau De […]
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Speaking at a news briefing in Washington on Wednesday, Gene Leon, the International Monetary Fund (IMF) chief for Nigeria, says the Nigerian naira is overvalued by about 10 percent to 20 percent. “The Nigerian economy has been hit by lower oil prices and lower production and the need for adjustment is recognised by the government,” […]
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The Central bank of Nigeria, CBN, on Monday directed all deposit money banks to immediately commence the sale of foreign exchange to their customers at not more than N360 to the dollar. The spokesperson of the CBN, Isaac Okarafor, said all customers requesting forex for their basic transport allowance and personal transport allowance, tuition and […]
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The value of the dollar continued to diminish against the naira as the Nigerian currency was traded at N390 at the parallel market on Thursday in Abuja. The News Agency of Nigeria reports that the Naira had also appreciated against the Euro, exchanging at N400 while remaining stable against the Pound Sterling at N465. The […]
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The Naira on Monday continued to extend its gains against the dollar at the parallel market, exchanging at N440 (buying rate) and N445 (Selling rate) to a dollar, from N445/N450 it traded on Friday, while the Pound Sterling and the Euro closed at N530 and N465. At the Bureau De Change (BDC) window, the Naira […]
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