ABUJA – In the face of rising demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has advised Nigerians to resist the urge of succumbing to the speculative activities of some players…
The exchange rate between the naira and the US dollar closed at N424.17/$1 at the official Investors and Exporters (I&E) window. Naira appreciated significantly against the US dollar at the official market on Tuesday, with a 1.16 per cent gain…
The Naira has fallen to low levels during the week, as traders adjusted prices to reflect the rate Central Bank of Nigeria sold the currency amidst the ongoing dollar scarcity. The Naira fell 0.1 p[er cent to N428.16/US$ at the…
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) yesterday attributed the fuel scarcity to the non-availability of forex. The President of the Union, Mr Festus Osifo, made this known at a news conference on Wednesday in Lagos.…
Bankers and other operators in the Nigerian financial market have identified deployment of commodities ecosystem as a potent method by which the Central Bank of Nigeria (CBN) can achieve the plan to generate 200 Billion Dollars in the next three…
The exchange rate between the naira and the US dollar closed at N416/$1 at the official Investors and Exporters (I&E) window. The exchange rate at the I&E window recorded a 0.16% gain to close at N416/$1 on Tuesday, 22nd February…
Nigeria recorded forex turnover of $2.18 billion at the Investors and Exporters window, where forex is traded officially, in the month of January 2022, representing a 50.8% decline compared to $4.44 billion that exchanged hands in the previous month. This…
Exchange rate gains at official market as forex turnover records boosThe exchange rate between the naira and the US dollar at the official Investors and Exporters (I&E) window closed at N416 Naira appreciated marginally against the US dollar on Friday…
The analysts noted that the FX inflows through the CBN accounted for about 56 percent of aggregate inflows in the economy. Total foreign exchange (FX) inflow into the Nigerian economy increased sharply to $30.2 billion in the third quarter (Q3) 2021…
By Uthman Salami Last year, rift between oil marketers and indecisiveness on the part of federal government almost threw Nigerians into torrid moments – the time they had to wait for hours, and sometimes days before they could get fuel. …
