Exchange Rate Unification’ll Maximise Remittances’ Benefits – ABCON         The Association of Bureaux De Change Operators of Nigeria has said that unification of exchange rates is necessary to maximise the economic benefits of increased remittances inflow into the economy. ABCON commended the recent policy measures introduced by...

Naira Drops To 460/$ At Parallel Market         The naira fell slightly at the parallel market on Monday, as it exchanged to the dollar for N460/$ as of the close of work. The naira had exchanged to the dollar on Friday for 458/$. This is as the country’s...

Naira Gains, Exchanges For N457/$       The naira gained slightly, as it exchanged to the dollar at N457/$ at the parallel market on Tuesday. It had earlier exchanged at N465/$ a week earlier. The President, Association of Bureaux De Change Operators, Alhaji Aminu Gwadabe, said, “The intervention sales...

Import Duty Rises 6% As Customs Begins Application Of New Exchange Rate       Importer and their agents have said that a 5.0 per cent increase is now effected in duty payable on all imports following the implementation of the new exchange rate by the Nigeria Customs...

Naira Exchanges N460/$ On Parallel Market     The naira on Monday fell by 1.09 per cent to N460 on the parallel market. The naira decline followed President Muhammadu‘s directive to the Central Bank of Nigeria (CBN) to stop dollar sales for food and fertiliser imports. On the...

Naira Rebounds, Exchanges For 420/$, Speculators Count Losses     The naira exchanged to the dollar at the parallel market at N420/$ on Wednesday, following the interventions made by the Central Bank of Nigeria in the Investors and Exporters window. Prior to CBN’s renewed intervention in the I&E...