Naira Remains Constant, Exchanges At 421/$   The Naira on Tuesday remained constant at exchanging at 421.00 to the dollar for the second day at the Investors and Exporters window. The local currency remained unchanged at 421.00 to the dollar, same as the 421.00 traded on Monday. The...

Dollar Hits N590 As Forex Scarcity Bites Harder   The lingering foreign exchange (FOREX) scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590/$1. The development may lead to massive job loss in the manufacturing industry,...

Fed Govt Excessive Borrowing From CBN Threatens Exchange Rate, Others   The Federal Government’s excessive borrowing from the Central Bank of Nigeria through the Means and Ways Advances window can have adverse effects on the apex bank’s monetary policy and subsequently harm domestic prices and exchange...

Nigeria’s Exchange Rate Strategy Discourages Investors, Increases Inflation – W/Bank   The World Bank says the Nigerian government’s exchange rate management policies are discouraging investments and fuelling inflation in the country The bank disclosed this in the November edition of its Nigeria Development Update. While highlighting the role...

Reps To Invite CBN As Accountant-General Pegs Exchange Rate At N425     The House of Representatives’ Committee on Finance has resolved to invite the Central Bank of Nigeria over an allegation by the Office of the Accountant-General of the Federation that the apex bank collects charges...

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...