NIGERIA Naira tumbled to a record low of 345 against the dollar at the parallel market on Monday, extending its depreciation from nine to 11 per cent in less than two weeks. The naira had hit a record low of 338 against the greenback on Friday, a day after the Bankers’ Committee announced plans to […]
Read More Nigeria’s Naira hit a record low of 321 to the dollar on the parallel market on Thursday, traders said, as importers desperate to meet their obligations scrambled for dollars. The central bank left its official rate unchanged at 197 naira to the dollar on its official interbank window. Tumbling global oil prices have battered Africa’s […]
Read More The country sold N195.95bn ($975m) in Treasury bills with maturities from three months to one year in its second auction of the year on Wednesday, at higher yields than previously, the Central Bank of Nigeria said on Thursday. According to Punch The bank sold N36.78bn of three-month paper at 4.29 per cent, up from four […]
Read More THE Nigeria Naira yesterday made a sudden recovery in the parallel market, following the Central Bank of Nigeria’s (CBN’s) easing of forex policies. The naira appreciated to N295 against the dollar from N305 on Friday, after the apex bank lifted the ban on dollar transfers and allowed dollar deposits into domiciliary accounts. The local currency […]
Read More NIGERIA Deposit Insurance Corporation has released deposit insurance guidelines on the mobile payment system, known as ‘Pass-Through Deposit Insurance scheme’. The NDIC said the move followed the introduction of mobile banking in Nigeria by the Central Bank of Nigeria, which issued operating licences to many Deposit Money Banks and telecommunications companies to provide mobile banking […]
Read More NIGERIA Naira has depreciated further against the United States Dollar on Wednesday, falling to 302 at the parallel market, down from 300 on Tuesday. The currency had sunk to a record low of 300 per dollar at the parallel market on Tuesday, a day after the Central Bank of Nigeria stopped dollar sales to Bureau […]
Read More MONDAY’S stoppage of foreign exchange sales to Bureau De Change operators by the Central Bank of Nigeria failed to lift the Nigeria Naira on Tuesday as the currency exchanged for 300 against the United States dollar in Kano, 290 in Lagos and 292 in Abuja. Financial experts said the naira would decline further, while private […]
Read More The demand for the United States’ dollar at the parallel market was up on Tuesday, driving down the naira to 267.5 against the greenback. The naira had on Monday closed at 265 against the dollar in the unofficial market, compared to 263 on Sunday. The Acting President, Association of Bureau De Change Operators, Alhaji Aminu […]
Read More The Nigeria naira extended its losses against the United States’ dollar on Monday at the parallel market, falling to 265 from 263 on Sunday. The Central Bank of Nigeria’s intervention on Wednesday is expected to lift the currency at the unofficial market, an industry operator told our correspondent. The nation’s currency had closed at 262 […]
Read More Currency dealers and hawkers are currently making stupendous profits from the sale of scarce foreign exchange, while the Central Bank of Nigeria watches helplessly. Findings revealed that despite the scarcity of foreign exchange in the economy, billions of dollars are lying fallow with the Deposit Money Banks, Bureux De Change operators and currency hawkers waiting […]
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The Nigeria naira, yesterday downsized against the United States dollar at the parallel market. The local currency closed at 262 against the greenback two days after it rose from 265 to 260. Currency analysts had predicted that the naira would remain weak against the dollar at the parallel market until the first week of January […]
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The Nigeria naira is said to have downsize to 269 against the United States dollar at the parallel market on Wednesday as the Central Bank of Nigeria commenced rationing the greenback to Bureaux De Change operators in its weekly foreign exchange sale. The dollar was sold for 260 at the parallel market on Tuesday. The […]
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