Godwin Emefiele

CBN’s $4 billion intervention fund bridges gap between official & black market

Gap between the official and black market rates is shrinking – courtesy of the Central Bank of Nigeria (CBN), which has pumped over $4 billion into the interbank, bureaux de change, wholesale spot and forwards auction. The injection has been in the last three months. The exchange rate gap yesterday narrowed to ₦80 from ₦214 […]

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Naira dips to record low of N409 to Dollar on black market

Nigeria’s currency, the Naira fell to an all-time low of N409 per dollar on the parallel market on Thursday, compared with N402 per dollar it closed the previous day as dollar shortage bite harder in Africa’s top crude producer. Traders said the local currency fell due to increase demand for the dollar which they are […]

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