News

Latest news on Naira exchange rates from Nigeria and abroad

Naira tumbles to 428 after MPC decision

The naira tumbled against the United States dollar to 428 on Wednesday, down from 424 on Tuesday, as persistent dollar shortage continues to weigh on the economy.

The major decline in the local currency against the greenback came a day …

Naira to begin recovery next week – ABCON

The Association of Bureau De Change Operators of Nigeria says it foresees the naira on the path of recovery by Monday due to the introduction of Travelex, a licensed Forex dealer.

The President of ABCON, Alhaji Aminu Gwadabe, said on …

Naira sustains fall against major currencies

The Naira on Thursday crashed further against the major currencies in all the segments of the market, the News Agency of Nigeria (NAN), reports.

At the interbank market, the naira fell by 2.99 points to close at N313.07 from N310. …

CBN Licenses 11 New International Money Transfer Operators

Full List CBN Licenses 11 New International Money Transfer Operators  : The Central Bank of Nigeria has licensed 11 new international money transfer operators in the country.

The Acting Director, Corporate Communications, Isaac Okorafor said in a statement on Tuesday, …

CBN warns banks on illicit money transfer flows

The Central Bank of Nigeria (CBN) has directed commercial banks to conduct Know Your Customers’ Businesses (KYCB) to ensure customers do not transact illegal or illicit remittances through the banking industry.

The CBN gave the directive to authourised dealers, mainly …

Central Bank of Nigeria bars nine banks from forex transactions

Nigeria’s Central Bank has barred nine commercial banks from all foreign exchange transactions and operations.

CBN Governor, Mr Godwin Emefiele

The banks were barred for hiding some $2.12 billion belonging to the nation’s oil corporation, the Nigerian National Petroleum Corporation …