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...

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’s N22.7tr Overdraft to Govt will be Audited – Wale Edun The N22.7 trillion Ways and Means debt incurred by the Federal Government will be audited, Minister of Finance Wale Edun said yesterday. The Coordinating Minister for the Economy explains that the measure, which has since...

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...

N47bn Debt: CBN, Aso Villa, DHQ Face Disconnection   No fewer than 86 ministries, agencies and departments of government are owing the Abuja Electricity Distribution Company to the tune of N47bn. According to a public notice by the management of the AEDC, the Presidential Villa owes the...

Naira Falls Further, Exchanges for N1,673/$, N2,000/1£ at Parallel Market Nigeria’s currency is currently exchanging above 2,000 naira against the Great Britain Pound at the parallel market. The new rates were confirmed on Monday by Bureau de Change operators in the Federal Capital Territory, Abuja, with...