CBN Approves Sale of $20,000 to BDC Operators The Central Bank of Nigeria (CBN) has approved the sale of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,450 per dollar to meet the demand for invisible transactions. In a statement on Thursday signed...

Average FX Turnover Rises 180% to $240m in One Year – CBN Data from the Central Bank of Nigeria has revealed that the average foreign exchange turnover grew by 180.47 per cent in one year to $240.64m as of the end of February. This is an...

Cardoso: Driving Investor Confidence Through FX Backlog By Abdulrahman Abdulraheem Governance is known all over the world to be a continuum. When people get into positions of authority, they are expected to inherit assets and liabilities from their predecessors. They are meant to build on...

CBN Sells $122.67m to 46 Authorised FX Dealers to Stabilise Market The Central Bank of Nigeria (CBN) has taken a significant step to stabilise the foreign exchange market by selling $122.67 million to 46 authorised dealers. This move is aimed at promoting market stability and reducing...

Nigerians Facing Consequences of Excess N37.5tn Money Supply into Economy – Cardoso The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that Nigerians are facing the consequences of excess money supply into the economy, citing the N27tn Ways and Means loan...

Senate Rejects Bill to Boost Gold Reserves A bill seeking to boost the nation's reserves by using gold has been rejected by the Senate. The bill sponsored by Senator Sani Musa ( APC, Niger East) titled “ Foreign Exchange (Control and Monitoring) Bill, 2024 (SB. 353)”...