CBN Warns Forex Dealers As Naira Plunges In Official Market
The naira plunged further at the official window on Tuesday, closing at an all-time-low of N1,482 against the United States dollar.
The local unit had closed at 1,348 against the greenback on Monday after the FMDQ...
JUST IN: With $64.44m Addition, CBN Concludes Payment of FX Backlog to Foreign Airlines
The Central Bank of Nigeria (CBN) has concluded the payment of all verified claims of backlog of foreign exchange owed to foreign airlines, with an additional $64.44 million to the concerned...
Despite $500m to Address Verified FX Backlog, Naira Plunges to N1,500 Per Dollar
The free fall of the Naira continued at the parallel market as the United State Dollar exchanged for N1506/$ yesterday from the N1,410 it sold the previous day despite the release of...
CBN Releases $500m to Address Verified FX Backlog
The Central Bank of Nigeria (CBN) has released US$500 million to various sectors in effort to address the backlog of verified foreign exchange (forex) transactions.
This comes barely a week after the Bank paid approximately US $2.0 billion...
CBN “Relocation” and Other Matters, by Okey Ikechukwu
Consider this: (1) The Executive arm of the government of South Africa is in Pretoria, the capital city, while the Parliament is in Cape Town. (2) There is a physical distance of 1,453.2 kilometres between the two...
Naira's Tragic Descent: What is the Way Forward? by Kabir Fagge Ali
The distressing descent of the Naira paints a bleak economic picture for Nigeria. As citizens grapple with the consequences of these interconnected challenges, it becomes imperative to critically examine the root causes, the...
