By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) and Point of Sale (PoS) operators to stop disrupting the seamless distribution of Naira notes. The Acting CBN Director, Corporate Communications, Mrs Hakama Sidi-Ali, who gave the warning in a...
Naira
In-spite of cash scarcity and rationing by banks, some traders in Lagos said they are still rejecting electronic transfer of fund due to network issues. The traders, especially those engaging in petty trading, said bank network delays and failures had significantly impacted negatively on their businesses. They were...
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has directed all its branches to continue to issue and accept all denominations of both old and redesigned Naira notes to and from Deposit Money Banks (DMBs). The Acting Director of the bank, Corporate Communications, Mrs...
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...
The Managing Director, 313 Bureau de Change, Alhaji Murtala Bashir, has emphasised the need for collective efforts to ensure the stability of the naira at the Foreign Exchange Market in Nigeria. Bashir made the call in a statement made available to the News Agency of Nigeria (NAN) on...
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...
Nigerians have been told when the ailing naira may bounce back to reduce hyper inflation and pains on the citizenry. The indication was revealed at the 7th annual conference of the Guild of Corporate Online Publishers (GOCOP) by a professor of capital market, Uche Uwaleke. ...
Th General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has declared that the “glorious days” when the Nigerian currency, naira was more valuable than its American equivalent, dollar will soon return. Adeboye made the statement on Sunday during a preaching titled ‘Uncommon Miracles’...
An economist, Prof. Akpan Ekpo, has urged the Central Bank of Nigeria (CBN) to take seriously the currency swap agreement with Peoples Bank of China (PBoC) to reduce reliance on dollars for trade. Ekpo, a former Director-General of West African Institute for Financial and Economic Management (WAIFEM), gave...
The naira depreciated against the dollar on Tuesday as it exchanged at N775.34 at the Investors and Exporters window. The naira lost by 0.42 per cent compared to the N772.12 it exchanged for the dollar on Monday. The open indicative rate closed at N769.66 to the dollar...
An economic expert, Dr Chijioke Ekechukwu has lauded the emergency three billion dollars crude oil repayment loan secured by the National Petroleum Company Ltd. (NNPC Ltd) from Afreximbank to stabilise exchange rate. Ekechukwu said this in an interview with the News Agency of Nigeria (NAN) on Sunday in...
The Nigerian National Petroleum Corporation (NNPC) Limited has secured a $3 billion crude repayment loan to support the naira and stabilise the foreign exchange market. NNPC Limited secured the funding from the AFRIEXIM bank headquarters in Cairo. “The NNPC Ltd. and AfriEXIM bank have jointly signed a commitment letter and Termsheet...
Naira depreciated against the dollar on Wednesday as it exchanged at N782.38 at the Investors and Exporters window. It lost by 3.38 per cent when compared with N757.51 for which it exchanged for the dollar on Tuesday. The open indicative rate closed at N778.49 to the dollar...
The Naira on Friday appreciated against the dollar, exchanging at N743.07 at the Investors and Exporters window. The Naira gained by 4.31 per cent when compared with N776.50 for which it exchanged for the dollar on Thursday. The open indicative rate closed at N782.28 to the dollar...
The Naira on Thursday appreciated against the dollar, exchanging at N768.16 at the Investors and Exporters window. The Naira gained by 3.22 per cent when compared with N793.70 for which it exchanged for the dollar on Wednesday. The open indicative rate closed at N787.13 to the dollar...
The Naira on Monday appreciated against the dollar, exchanging at N795.28 at the investors and exporters window. The Naira increased by 1.07 per cent when compared with N803.90 which it exchanged to the dollar on July 14. The open indicative rate closed at N782.79 to one dollar on Monday....
The Naira on Friday depreciated against the dollar, exchanging at N803.90 at the investors and exporters window. The Naira decreased by 7.72 per cent when compared with N746.28 for which it exchanged for the dollar on Thursday. The open indicative rate closed at N763.36 to one dollar on Friday....
The Naira on Monday appreciated against the dollar, exchanging at N741.50 at the investors and exporters window. The Naira gained by 3.61 per cent when compared with N769.25 for which it exchanged for the dollar at the close of business on June 30. The open indicative rate closed at...
The Naira on Friday dropped against the dollar, exchanging at N769.25 at the investors and exporters window.naira The Naira depreciated by 0.82 per cent when compared with N763 for which it exchanged for the dollar before the Eid-el-Kabir holiday that began on June 28. The open indicative rate...