CBN-Aboki FX Saga: Currency Play and Lessons from Billions TV Show, by Abdulhaleem Ishaq Ringim     While explaining the reason behind the Central Bank of Nigeria’s clampdown on the parallel market exchange rate aggregation and publication website, AbokiFx, the CBN Governor submitted that the CBN’s preliminary...

Naira Plunges To 543/$, Pounds Now N740       The naira continued its downward spiral on the parallel market on Thursday, selling for 543 to the dollar. While Bureau de Change operators in Abuja bought dollar at N540, it was sold for N543. The Economic Confidential had reported on...

Naira Extends Decline As Dollar Hits N535       The Nigerian currency extended its slide against the dollar on Wednesday, dropping to a new all-time low at the parallel market in Lagos. The naira has been falling steadily since the start of this month amid the lingering scarcity...

Naira Drops To 532/$ Despite Rise In Forex Reserves       The Nigerian currency weakened further against the dollar at the parallel market on Monday despite the rise in the country’s foreign exchange reserves. The forex reserves, which fell to a record low of $33.09bn on July 12,...

Paris Club Refund: Govs Ask Banks To Stop $418m Consultants Pay         The Nigeria Governors’ Forum (NGF) has asked banks not to proceed with the payment of $418.9 million to consultants as directed by the Minister of Finance, Budget and National Planning, Zainab Ahmed. The minister had...

Remittances: Senate Accuses NNPC, CBN, Others Of Underpayment       The Senate on Wednesday accused Government Owned Enterprises of worsening the current dwindling revenues in the country by engaging in spending spree instead of remitting the appropriate funds into the federation account. The Chairman of the Senate Committee...