CBN To Sanction BDCs, Banks Rejecting Lower Dollar Bills
Deposit Money Banks (DMBs) and authorised Bureau De Change (BDC) operators who reject old and lower denomination of the United States dollar bills will be sanctioned, the Central Bank of Nigeria (CBN) said yesterday.
A circular signed...
Naira Depreciation Weakens Manufacturing Production - MAN
Notwithstanding the challenges of access to foreign exchange (forex) for importation of raw materials, local manufacturers have stated that a favourable exchange regime and a stronger currency, presents a good omen for improving manufacturing production.
According to the Manufacturers...
Naira Dips Further, Exchanges For 473/$
The naira suffered further setback at the parallel market and Investors and Exporters forex window on Tuesday.
According to figures obtained from Bureau De Change operators, the naira exchanged to the dollar for 473/$ at the parallel market.
It had earlier...
Naira Recovery Against Dollar To Begin February 2021 - CBN
The Central Bank of Nigeria (CBN) has said the naira will begin recovery against the dollar and other global currencies from February 2021.
This was contained in the latest CBN Business Expectation Survey released by its...
Naira Exchanges For N474/$
The naira exchanged to the dollar in the parallel market at N474/$ on Thursday.
The naira which recorded slight improvement in recent days closed at the Importer & Exporter forex window at N394.6/$.
However, the Central Bank of Nigeria retained the official exchange...
CBN Boosts Dollar Supply With New Rules On Domiciliary Accounts, Remittance
In an apparent move to boost dollar supply into the economy, the Central Bank of Nigeria (CBN) yesterday introduced new rules that allow beneficiaries of diaspora remittance and transfers into domiciliary accounts to receive...
