Naira Gains by Over 8% in One Week The naira appreciated by N137.69 against the United States dollar within a week, following the introduction of the Central Bank of Nigeria’s new foreign exchange platform. Data obtained from the CBN’s website on Sunday showed that the closing...

Naira Continues to Appreciate at Official Market The naira has continued to strengthen on the official trading window, the Nigerian Autonomous Foreign Exchange Market, as the Central Bank of Nigeria launched the new Electronic Foreign Exchange Matching System this week. According to data on the CBN...

CBN Clarifies Staff Early Exit Exercise ...Says Participation is Entirely Voluntary The Central Bank of Nigeria (CBN) has dismissed claims of forced mass retirements, clarifying that its Early Exit Package (EEP) is entirely voluntary and without any negative repercussions for eligible staff. Speaking in Abuja on...

Banks Raise Withdrawal Limit to N50,000 Daily Deposit Money Banks in the Federal Capital Territory have increased their maximum over-the-counter withdrawal limit to N50,000 per day. A survey conducted by our correspondent on Tuesday revealed that banks, including Guaranty Trust Bank and Zenith Bank, have increased...

Forex Turnover in NAFEM Rises by 61% to $43bn   The volume of dollar traded (turnover) in the Nigerian Foreign Exchange Market (NAFEM) rose Year-on-Year (YoY) by 61.9 percent to $43.09 billion in the first eleven months of 2024 (11M’24) from $26.6 billion in the corresponding...

CBN to Launch New Website Today The Central Bank of Nigeria (CBN) has announced the launch of its new website on Monday (today). In a statement signed by the acting Director of Corporate Communications, Sidi Ali, the bank said the new website will become operational on...