CBN Warns Against Speculation, Manipulation Of Forex           The Central Bank of Nigeria has warned Nigerians to be wary of the activities of speculators who sought to manipulate the market for unpatriotic reasons. In a statement by the Spokesman of the Central Bank of Nigeria, Mr Osita...

Five Top Banks Fined N1.4bn For Forex Infractions, Others           Five top banks in Nigeria paid a total of N1.4bn as penalties to financial regulatory bodies such as the Central Bank of Nigeria, Security Exchange Council and Financial Reporting Council of Nigeria, in the first half...

It’s Compulsory For Nigerians To Accept e-naira - CBN           The Central Bank of Nigeria says the e-naira which is set to be launched on October 1 is a legal tender equal to the value of the naira and thus must be accepted as a form...

AbokiFX: BDCs Halt Exchange Rate Publication, Naira Slides Further             The naira defied all interventions and continued sliding against other currencies, exchanging 580 to the dollar at the parallel market on Monday. The rate was N570/$ on Friday. In another development, the official website of the Central...

Customers Scam Banks With Fake Visas, Tickets For Forex             The Central Bank of Nigeria has vowed to engage financial crime fighting agencies to pursue fraudsters who have been deceiving the banks with fake documents to buy forex at cheap rates and sell at higher rates...

Naira Declines Further, Exchanges For 570/$           The naira continued its downward trend after exchanging to the dollar for 570 on Thursday. A week earlier, the naira had traded to the dollar at the rate of 534. According to the official website of the Bureau de Change operators,...