Forex Scarcity Cripples Local Airlines, Spike Airfares     The foreign exchange (FX) liquidity crisis is eating deeper into the daily operations of the local airlines, causing airlines’ capacity to dwindle and hitting up airfares. The Economic Confidential, yesterday, learned that operators in the aviation sector have not...

Nigeria Records N13trn Fixed Income, Currencies Deals     Nigerian fixed-income and currencies markets recorded transactions valued at N13.03 trillion in January 2021 with foreign exchange (forex) accounting for N3.26 trillion. A report by FMDQ Group at the weekend showed that total foreign exchange (forex) market turnover in...

CBN Sells $10.3bn At Forex Market In Six Months       The Central Bank of Nigeria (CBN) sold a total of $10.3 billion at the foreign exchange (FX) market in the first half of last year, the 2020 half-year activity report released by the regulator yesterday has...

CBN Defends Naira With $4.37bn In Three Months         The Central Bank of Nigeria injected $4.37bn into the foreign exchange market in the third quarter of 2020 as part of efforts to ensure the stability of the naira. The CBN disclosed this in its third-quarter economic report. The...

Naira Exchanges At N472/$ At Parallel Market   The Naira on Tuesday exchanged at N472 to a dollar at the parallel market in Lagos. The Pound Sterling and the Euro also exchanged for N575 and N530 respectively. The Naira, however, traded at N388.17 to a dollar at the...

New FX Rule To Begin Aug 1 - CBN   The Central Bank of Nigeria has announced that the provisions of the revised Foreign Exchange Manual shall take effect from August 1,2018. A circular to Authorized dealer banks and the public, signed by the Director, Trade and...