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 …
Latest Naira exchange rate against Dollars and Pounds on the parallel, BDC and CBN black market
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 …
|1 Pound To Naira|
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 …
IMF President, Christine Lagarde is going to stand trial on allegations of fraud.
Lagarde, who served as finance minister under President Nicolas Sarkozy is accused of intervening in a court dispute between French tycoon Bernard Tapie and the bank Credit …