No Forex For Goods With Local Substitutes, Says Emefiele   The Central Bank Governor, Mr Godwin Emefiele, has said that the CBN will not support the importation of items that can be produced in Nigeria with forex. As Nigeria continued the process of full reopening of the...

Naira Depreciates To N386 At I&E Window     The naira has depreciated to N386.33 at the Investors and Exporters (I&E) window as investors and importers continue to scramble for foreign exchange (forex) supplies. The naira weakened N0.33 against the dollar when compared to the N386 to a...

Naira Exchanges At N450 To Dollar     The naira on Thursday exchanged at N450 to dollar at the parallel market as build up on dollar demand continued to rise. The naira is seen weakening on the black market as dollar demand rises from foreign investors and importers...

Forex: Naira Gains, Exchanges 430/$     The naira sold for N430 to a dollar on Monday, gaining some strength over previous week’s sales figures, following the resumption of forex sales by the Central Bank of Nigeria on April 29, 2020. After four weeks of forex sales suspension,...

Forex Pressure, Infrastructure Deficit May Worsen Inflation — Emefiele     The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has said that the infrastructural deficits and emerging pressures from the foreign exchange market may aggravate inflation. He said with the decline in crude oil receipts as well...

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...