Naira Gains at Autonomous FX Market, Banks Sell $172m The naira gained marginally against the United States dollar at the Nigerian Autonomous Foreign Exchange Market on Tuesday, closing at N1,542.58/$ from N1,551/$ recorded on Tuesday. The rate represents a 2.9 per cent appreciation from the N1,598.54...

Diesel Sold at N1,153 Per Litre in January 2024 – NBS The National Bureau of Statistics (NBS) says the average retail price of a litre of diesel increased from N828.82 in January 2023 to N1,153.01 in January 2024. NBS stated this in its Diesel Price Watch...

FG Seeks $10bn to Improve Liquidity in FX Market The Federal Government is planning to raise $10bn to improve liquidity in the foreign exchange market. On Tuesday, the naira fell to an all-time low of 1,850 per dollar at the parallel market. President Bola Tinubu, who...

Cargo Clearance Exchange Rate Raises to N1,605/$ The Federal Government through the Central Bank of Nigeria (CBN) has again raised the exchange rate for cargo clearance to N1,605/$. This is coming days after the rate rose to N1515/ $ and later dropped to N1,472. Between January and...

CBN, ONSA Partner to Combat Illicit Activities in FX Market The Central Bank of Nigeria (CBN) and the Office of the National Security Adviser (ONSA) have entered a partnership to investigate and penalise those involved in illicit activities within the foreign exchange market. This was made...

More Hardship For Nigerians As Naira Hits Record Lows, Stocks Plunge   The Nigerian naira fell to record lows on both the official and unofficial markets on Monday, while stocks posted their biggest one-day fall in more than a year, as jittery investors sold off local...