The Naira on Monday remained stable at the parallel market.
The Nigerian currency maintained N378 to the dollar at the close of trading on Monday afternoon, keeping same value as at Friday.
Also, the naira maintained N495 to the Pound …
The Monetary Policy Committee (MPC) is set to review recent developments in the global and domestic economy at a crucial two day meeting commencing tomorrow in Abuja.
Topping the agenda for the meeting is the volatility of the naira in …
Interbank overnight lending rate jumped as high as 40 percent on Friday, well up from 18 percent penultimate week, after the central bank drained naira liquidity from the market to support the currency after it hit a record low, traders …
The naira found relief on the interbank FX market yesterday as it appreciated following the settlement of the one-month forward contracts of $697 million by the Central Bank of Nigeria (CBN).
Specifically, the naira gained N2.45 to close at N307.43 …
The Central Bank of Nigeria (CBN) has directed agent banks to approved international money transfer operators to sell foreign currency accruing from inward money remittances to licenced Bureau De Change operators (BDCs).
The directive is in a circular with …
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Nigeria’s Minister of Finance, Mrs. Kemi Adeosun has finally admitted what many analysts feared – Nigeria is in a recession.
The Minister while addressing Senators today on state of economy said, “Are we on recession? Technically, Yes, we …
The naira’s free fall has come as a surprise to many stakeholders, who think that the new flexible forex policy introduced by the Central Bank of Nigeria (CBN) would have stabilised the currency.
The forex market swung left and right …