N386/$ New Exchange Rate Not Sustainable - ABCON       The President, Association of Bureaux de Change Operators of Nigeria, Alhaji Aminu Gwadabe, has said that the new exchange rate for the operators to sell forex at N386 cannot sustain their operations. He also said that funding of...

Official Exchange Rate May Hit N430/$ – Report     The nation’s official exchange rate may fall to N430 to the dollar by the end of 2020, United Capital Plc, a pan-African investment banking and financial services group, said on Tuesday. The firm, in its economic forecast for...

Naira Gains Against Dollar As Forex Rise By 242%     Forex turnover at the Investor and Exporters (I&E) window recorded a huge increase on Monday, June 29, 2020, as it rose by 242%, a significant increase from what was recorded on Friday, June 26, 2020, in the foreign exchange market. This is according...

FG Considers Unified Naira Exchange Rate Regime     The federal government on Wednesday hinted of plans to unify the current Naira multiple exchange rate regime as a strategic monetary policy option to generate more local currency from its dollar inflows and manage the rate in a...

Oil Declines To $28, Dollar Exchanges For N369   The price of Brent crude oil, the international benchmark, extended its decline on Tuesday, trading around $28 per barrel. Brent, against which Nigeria’s crude is priced, fell by $1.40 to $28.65 per barrel as of 8:15 pm Nigerian...

Exchange Rate Policy May Trigger Forex Inflation, Hoarding — Experts   The introduction of the longer-term contract on the naira in a move to attract more foreign inflows, shore up dwindling dollar reserves and stave off currency devaluation, by the Central Bank of Nigeria, may lead...