Naira Dollar

Forex Market Trades $327m, Foreign Investors Buy Bonds

The nation’s foreign exchange market recorded $327m worth of transactions on Monday, about six times more than its usual volume, the FMDQ OTC Securities...

Government Records N1.90tr Deficit Financing in Second Quarter

Figure almost 100 per cent above budgetary estimates An estimated deficit of N1,090.96 billion was recorded in the fiscal operations of the Federal Government at...

FIRS Seeks Robust Tax Law to Boost Revenue

The Executive Chairman, Federal Inland Revenue Service, Mr. Babatunde Fowler, has said an effective tax law is vital for the mobilisation of tax revenue. Fowler...

Again, CBN Meets Bank CEOs Today, Considers All Options

...FG revenue drops to N1.159tn in Q2, investors await flurry of economic data this week In bid to ensure financial system stability and integrity, while...

Naira Falls Further to 414/Dollar

The naira fell to a new low of 414 against the United States dollar on Sunday amid the continued scarcity of foreign exchange in...
cbn

CBN Warns Banks Against Illegal Money Transfer

The Central Bank of Nigeria has directed the Deposit Money Banks to conduct Know Your Customers’ Business to ensure customers do not make illicit...

N5, 000 Tax Can Save a Child from Malaria- FIRS Boss

...Chartered Institute of Taxation, Ghana honours FIRS Chairman Five thousand Naira, (N5, 000) may seem too little to do a buffet at the Transcorp Hilton...

Foreign Banks Threaten to Put 8 Lenders on Watch List

...MDs to partner CBN to resolve FX issue ...Wigwe heads bank CEOs’ body ...Naira plummets to N410/$ If the Central Bank of Nigeria (CBN) does not rescind...

Forex Shortage: Naira Hits All-time Low of 409/Dollar

The naira hit an all-time low of 409 against the dollar at the parallel market on Thursday, two days after the Central Bank of...

CBN Settles $152.48m Forex Futures on FMDQ

The second over-the-counter foreign exchange futures contract (NGUS AUG 24 2016) with notional amount of $152.48m at $/N310, matured and was settled on the...

Naira Tumbles to 402 on Dollar Scarcity

The naira tumbled to 402 at the parallel market on Wednesday, a day after the Central Bank of Nigeria banned nine banks from the...

CBN to Stop Dud Cheque Issuers from Operating Current Account

The Central Bank of Nigeria is in the process of stopping issuers of dud cheques (returned cheques) from opening current account, the Deputy Director,...

Naira is Worst Performing Currency – Bloomberg

The naira is the worst performing currency this year among more than 150 currencies globally, the Bloomberg media has said. It has depreciated 37 percent...

Naira Gains 0.8% on CBN Dollar Sale

The naira closed firmer on the interbank market on Monday after the Central Bank of Nigeria sold dollars to some commercial banks towards the...
Godwin Emefiele CBN Governor

CBN Directs Banks to Allocate 60% of FX Sales to Manufacturers

...ABCON asks central bank to outsource weekly dollar sales to BDCs ...Oversupply, Nigeria’s ceasefire trigger fall in oil prices Desirous of stimulating economic activities in the...
Naira Dollar

BDCs: Banks Shun CBN’s $50,000 Sale Directive

Deposit Money Banks have yet to comply with the Central Bank of Nigeria’s directive asking them to sell $50,000 from Diaspora remittances to Bureau...

Banks’ Returns on FX Utilisation Show Reduction in Capital Outflows

The returns on foreign exchange (FX) utilisation published by some of the international banks have revealed that the pressure on capital outflows has gradually...
cbn

CBN, NBET Negotiate Fresh N180bn Fiscal Stimulus for Power Sector

The Nigerian Bulk Electricity Trading Plc (NBET) and Central Bank of Nigeria (CBN) are currently negotiating new financial stimulus worth N180 billion to support...

Debts: FG Deducts N32bn from States’ Allocations

... Debts on Bail-Out, AMCON, Foreign Loans, Bonds, Commercial Agric ... Osun, Bayelsa, 4 other States in Critical conditions The Federal Government has deducted a total...

FAAC Table: The Sharing of N691bn to FG, States, LGCs in July 2016

The Federation Account Allocation Committee (FAAC) shared a total sum of N691bn in the month of July representing allocation for June 2016. Of the...
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