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Tag: foreign currency

ABCON Mobilises Forex Dealers Against Hoarding

Forex
In an apparent response to the sustained spike in the foreign exchange rate in the country, the Association of Bureaux de Change Operators of Nigeria (ABCON) has begun the mobilisationRead More

House Directs CBN To Halt Further Devaluation Of Naira

Central Bank of Nigeria (CBN)
The House of Representatives has directed the Central Bank of Nigeria (CBN) to urgently put in place a policy to check further devaluation of the Naira to dollar and otherRead More

Banks’ Impairment Charges Soar By 113% To N228bn

Bank
W’Bank insists on subsidies’ removal, unified exchange rate In an apparent move to reduce the negative impact of COVID-19 on their risks assets, nine banks have significantly increased their impairmentRead More

Excitement As New Diaspora Remittances Policy Takes Effect Today

CBN Governor, Mr. Godwin Emefiele
Annual inflows put at $24bn CBN, NSIA, AFC to float N15tn infrastructure fund There is palpable excitement among Forex users as the Central Bank of Nigeria’s (CBN) new policy thatRead More

Naira Weakens To Lowest In Three Years

Naira exchange rate
Nigerian Naira yesterday weakened to the lowest in over three years in the parallel market, due to increased demand for US Dollars, amid foreign currency shortages. The local currency depreciatedRead More