Naira gained further at the official market, trading at N1,262.85 to a dollar on Wednesday. Data from the official trading platform of the FMDQ revealed that the Naira gained N15.73. This represents a 1.23 per cent appreciation when compared to the previous day’s trading on Tuesday, exchanging at N1,278.58...
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The Naira gained at the official market, trading at N1,278.58 to a dollar on Tuesday. Data from the official trading platform of the FMDQ revealed that the Naira gained N30.81 or 2.35 per cent, compared to the previous trading date on Thursday, March, 28, 2024 just before the...
The Naira experienced a slight depreciation at the official market, trading at N1,309.39 to a dollar on Thursday. Data from the official trading platform of the FMDQ revealed that the Naira lost N8.96 or 0.69 per cent, compared to the previous day’s rate of N1,300.43 against the dollar....
The Naira experienced a further appreciation at the official market, trading at N1,382.95 to a dollar on Tuesday. Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N25.09 or 1.78 per cent, compared to the previous day’s rate of N1,408 against the...
The Naira experienced a slight appreciation at the official market, trading at N1,431.49 to a dollar on Friday. Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N21.79 or 1.5 per cent, compared to the previous day’s rate of N1,453.28 against...
The Chief Executive of Binance Holding Limited, Richard Teng, has been called upon by the House of Representatives Committee on Financial Crimes regarding suspicions of involvement in terrorism financing and money laundering. At a panel discussion on Friday, Ginger Onwusibe, the Chairman of the Committee, issued a notice...
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso says the Naira is grossly undervalued. Cardoso said this on Tuesday in Abuja, while presenting a communiqué from the 293rd meeting of the apex bank’s Monetary Policy Committee (MPC). He said that the foreign...
The Central Bank of Nigeria (CBN has mandated foreign exchange sellers to Bureau De Change (BDC) of the equivalent of 10,000 dollars and above to declare their forex sources. Director, Financial Policy and Regulation Department of the CBN, Haruna Mustapha, said this in a revised regulatory framework to...
A financial expert, Dr Chijioke Ekechukwu, has said the continued depreciation of the Naira has become worrisome and embarrassing. Ekechukwu, an economist and a past president of the Abuja Chamber of Commerce and Industry (ACCI), said this in an interview with the News Agency of Nigeria (NAN) on...
The National Universities Commission (NUC) on Thursday reiterated its position that no tertiary institution in Nigeria is allowed to charge tuition fees in dollars. The Acting Executive Secretary of NUC, Chris Maiyaki emphasised this at a media parley with education reporters in Abuja. He was reacting to a statement...
By JOY ADARA, Abuja – A Prosecuting witness Three Pw3, in the trial of Ali Bello and Dauda Suleiman who are being prosecuted by the Economic and Financial Crimes Commission (EFCC), has told Justice James Omotosho of the Federal High Court sitting in Abuja that Suleiman usually comes to...
By CALLISTUS OFFOR, Abuja – The Economic and Financial Crimes Commission (EFCC), has raised a Special Task Force in all its Zonal Commands for the enforcement of extant laws against currency mutilation and dollarization of the economy. The Commission disclosed this in a statement issued on Wednesday via...
The Independent Media and Policy Initiative (IMPI), says the new policies introduced by the Central Bank of Nigeria (CBN) will help stabilise the Naira in the foreign exchange market. Mr Niyi Akinsiju, the Chairman of the Non Governmental Organisation (NGO), said this in a statement on Sunday in...
Against the backdrop of the current forex crisis in Nigeria and apparent move to restore the value of the Naira, the Central Bank of Nigeria (CBN) has warned against the use of foreign currencies in the domestic economy as a means of payment for goods and services by...
Bank customers resident in the Federal Capital Territory (FCT) have decried the continuous fall of the naira to the dollar. According to them, their purchasing power have reduced drastically. The News Agency of Nigeria (NAN) reports that one dollar to Naira exchange rate at the parallel market is...
The dollar paused its rally on Tuesday, as traders reaffirmed their bets for a slew of Federal Reserve rate cuts this year on the belief that inflation in the U.S. is slowing sufficiently. In cryptocurrencies, bitcoin hovered near its strongest level since April 2022 on growing anticipation of...
1. Introduction. There has been clamor by the Bureau De Change (BDC) operators for their readmission into the Investors and Exporters (I&E) window, now known, as the Nigerian Autonomous Foreign Exchange Market (NAFEM). With the re-listing by the new CBN Governor Mr. Cardoso of the 43 items...
Many residents of the Federal Capital Territory (FCT), on Sunday decried the continuous increase in the price of cooking gas. According to them, cooking gas has gone beyond the reach of the common man. The News Agency of Nigeria (NAN) reports that the latest Cooking Gas Price report...
Naira continued its rebound against the dollar on Friday, Nov. 3, strengthening to N950/$ on the average in the parallel market. At noon on Friday, on a popular crypto exchange platform, Binance, the local currency was traded against the dollar at N864.19/$1 compared with Thursday’s closing rate of...
The rise in the cost of crude oil, coupled with the depreciation of the naira against the United States dollar, might lead to a hike in the pump price of Premium Motor Spirit, popularly called petrol, oil marketers stated on Sunday. It was also gathered that the sharp...