The Central Bank of Nigeria, CBN has directed banks to sell dollars for invisible transactions such as personal travel allowance, business travel allowance, school fees and others at N360 per dollar. For this purpose, the apex bank released $85 million for sale to banks...

The naira yesterday depreciated to N458 per dollar in the parallel market due to uncertainty over dollar sales to bureaux de change (BDCs) by the Central bank of Nigeria (CBN). Meanwhile the apex bank yesterday concluded arrangement to release into the foreign exchange market $195...

The naira tumbled to 520 against the United States dollar at the parallel market on Monday as scarcity of the greenback continued to keep the exchange rate in a free fall mode. The naira had closed at 516/dollar on Friday, after hitting 510/dollar and 507/dollar...

Prices of mobile phones in Nigeria have jumped by about an average of 100 per cent in the last one year due to skyrocketing inflation in the economy. This formed part of the findings of Daily Trust’s investigation involving asking Nigerians prices of their phones...

Currency retailers and experts have said the naira will trade slightly below 500 per United States dollar this week despite the commencement of the sale of foreign exchange to Bureau De Change operators by the Central Bank of Nigeria last week. The CBN had through...

The naira fell against the United States dollar at the parallel market to 498 on Thursday, from 497 on Wednesday. This came hours after the Central Bank of Nigeria resumed dollar sales to Bureau De Change operators through Travelex. Before dropping to 498, the naira had...