Money market

CBN reports $5.5bn direct remittances in 2020

The Central Bank of Nigeria (CBN) has disclosed that total remittances from Diaspora dropped by 71.2 per cent to $5.5billion in 2020 to undermined the effect of global COVID-19 lockdown. The international payments data of the apex bank revealed that…

Naira depreciates by 0.63% to N401/$

By Kayode Tokede Naira at the Investors & Exporters Foreign exchange ( I & E FX) market on Tuesday depreciated by 0.63 per cent to close at N401 against the dollar. Our correspondent gathered that naira at the I &…