Naira Stabilizes At N480/$1 As CBN Eases Rate       The Naira has stabilized at N480/$1 at the bureau de change market after the Central Bank of Nigeria (CBN) removed the peg on the Naira. The CBN, it was learnt, removed the official peg on the Naira to...

CBN To Resume Forex Sales To BDCs Sept 7     The Central Bank of Nigeria has said it will resume the sale of foreign exchange to the Bureau De Change segment of the foreign exchange market on September 7. The CBN stated this in a circular entitled...

In 2019, CBN Spent N75bn To Print Banknotes     The Central Bank of Nigeria, CBN, said it spent N75 billion to print banknotes in 2019. This represents N11.5 billion or 18 percent increase when compared to N64 billion spent in 2018. The apex bank also deployed $3.95...

Firms Expect Further Naira Depreciation As Dollar Sells For N440   Business organisations in the country expect the naira to depreciate further in the next few months, a report by the Central Bank of Nigeria has said. The dollar on Thursday sold for N440 in the parallel...

Dollar Sells For N450 In Parallel Market     The dollar sold for N450 in the parallel market on Friday, showing a shallow and dry reflection of the foreign exchange market. Impact of the crude oil prices which had been fluctuating, and fell to as low as $21,...

Black Market Forex Dealers Cash On Scarcity, Sell N415/$   The pressure on the foreign exchange market seems to have continued unabated as the Naira depreciated to its weakest level since February 2017 at the parallel market, which is also known as the black market, selling...