FX Records Zero Gap as Dollar Sells for N1,615 The foreign exchange (FX) recorded zero (N0.01) gap between the official and parallel market as the dollar was quoted at N1,615 across markets on Wednesday. Data released by the FMDQ Securities Exchange showed that the dollar was...

CBN Slashes Import Duty Forex Rate   The Central Bank of Nigeria (CBN) has further reviewed downward the Customs Foreign Exchange duty rate from N1,630.159/$ to N1,544.081/$ on Monday, March 04, 2024. The slash which represents 5.3 percent follows the stability in the exchange rate of naira...

CBN Slashes Import Duty Forex Rate   The Central Bank of Nigeria (CBN) has further reviewed downward the Customs Foreign Exchange duty rate from N1,630.159/$ to N1,544.081/$ on Monday, March 04, 2024. The slash which represents 5.3 percent follows the stability in the exchange rate of naira...

Inflation: CBN Mops Up N1.51trn in 16 Weeks to Stabilise Economy The Central Bank of Nigeria (CBN) has issued a total of N1.5 trillion in Open Market Operation (OMO) bills since Olayemi Cardoso took the helm as governor in a bid to stem inflation and...

Tinubu Seeks Senate's Approval of Cardoso as MPC Chair President Bola Ahmed Tinubu has appointed the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, as the chairman and 11 others as members of the newly constituted Monetary Policy Committee (MPC) of the apex...

EFCC 7,000-man Task Force Clamps Down on Dollar Racketeers The Economic and Financial Crimes Commission has raised a 7,000-man special task force across its 14 zonal commands to clamp down on dollar racketeers. In a move to reduce the pressure on the naira, the spokesperson for...