Naira

Naira depreciates to ₦382 against USD

The naira weakened to 382 per United States dollar on Friday, down from ₦379/dollar it closed on Thursday. On the back of sustained dollar injection by the Central Bank of Nigeria, the local currency had rebounded to 380/dollar on Wednesday after closing at ₦381/dollar on Monday and Tuesday. The central bank has continued to supply […]

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CBN hq

CBN will sell dollars to clear demand backlog of FX for airlines, others

The Nigeria Central Bank is planning to sell an undisclosed amount of dollars to settle a backlog of foreign exchange demand for airlines, fuel and raw material importers. Foreign exchange traders said the CBN had asked commercial banks to submit bids for dollars to cover the previously unmet demand for hard currency for specific sectors […]

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