Eight Firms Record N918.1bn Currency Revaluation Loss   Eight firms have declared N918.1bn as currency revaluation loss following a 68.55 percent decline in the value of the naira against the dollar as of the end of September 2023. Following a Central Bank of Nigeria move in June...

Naira Crashes to N1,000 Per Dollar in Official Market Despite recent moves by the Central Bank of Nigeria to strengthen the foreign exchange market, the naira closed trading on the Investor & Exporter forex window on Thursday at N996.75/$. This is a 13.95 per cent decline...

Old Banknote Remains Legal Tender - CBN Every banknote remains legal tender and should not be rejected by anyone, the Central Bank of Nigeria has disclosed. This is as the apex bank directed all its branches across the country to continue to issue different denominations of...

Naira Devaluation Boosts Govt Revenue by N713bn   The government has made a N713.1bn revenue windfall from the devaluation of the naira, an analysis of the government’s earnings has shown. The devaluation of the naira in June was meant to boost the country’s foreign exchange earnings and...

CBN’s Lending to Banks Rises by 466 % to N268bn   Banks’ borrowings from the Standing Lending Facility (SLF) of the Central Bank of Nigeria (CBN) increased year-on-year (YoY) by 466 percent to N268.3 billion as at end of October 2023 from N47.35 billion as at...

ABCON Reveals Why Naira Regained Strength at FX Market   The Association of Bureau De Change Operators of Nigeria (ABCON), has revealed why the Naira is regaining strength against the dollar. “The development stems from the ‘double-edged sword dollar liquidity injection and the mopping up of the...