The Naira on Friday experi enced huge appreciation at the official market, trading at N1,142.38 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed…
The Naira on Friday experienced huge appreciation at the official market, trading at N1,142.38 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that…
The Debt Management Office (DMO) is seeking to raise N450 billion in its April bond auction billed to take place on April 15. This is in line with the agency’s plan to raise up to N1.8 trillion through FGN bonds…
The Central Bank of Nigeria (CBN’s) directive stopping the use of Non Export Domiciliary Account Collateral for naira loans will boost dollar liquidity, support reserves accretion and strengthen the financial services sector, President, Association of Bureaux De Change Operators of…
Importers in Nigeria have received a welcome reprieve as the Central Bank of Nigeria (CBN) announced a further reduction in the exchange rate used for calculating Customs duties at the nation’s seaports. According to information obtained from the official trade…
The Nigerian naira has continued its upward trajectory, reaching a rate of 1,200 against the US dollar on the black market following an adjustment by the Central Bank of Nigeria (CBN). This marks a significant appreciation from the previous rate…
The naira continued its weeks-long appreciation against the dollar in the foreign exchange market amid the Central Bank of Nigeria’s fresh effort to defend the currency. FMQD data showed the exchange as N1, 230.61 per US dollar on Monday from…
The Chartered Institute of Bankers of Nigeria (CIBN) has announced a historic net operating surplus of N1.37 billion for 2023, marking a significant growth from the N837.94 million recorded in 2022. Its President, Dr Ken Opara, revealed this achievement during…
The Association of Bureaux De Change Operators of Nigeria (ABCON), the umbrella body of all Central Bank of Nigeria (CBN)-Licensed Bureaux De Change (BDCs) in Nigeria has appealed to the Apex Bank to adjust and lower its applicable Exchange Rate…
The Nigerian Naira continued its upward trajectory against the United States dollar across foreign exchange (FX) platforms, buoyed by a surge in dollar supply at the official market on Wednesday. According to data released by FMDQ Securities Exchange, the local…
