CBN Begins Clearance of $10bn Forex Backlogs of Foreign Airlines, Others The Central Bank of Nigeria (CBN), has started clearing over $10 billion foreign exchange backlogs of commercial banks and foreign airline operators. This is as the apex bank also assured the public that it has...

Forex: Nigerians Spend $340.84 on Education in Six Months – CBN   Nigerians seeking admissions to foreign universities spent $340.84m to fund their application between January and June 2023. This figure is according to a data by the Central Bank of Nigeria (CBN) on the amount spent...

CBN's Policy on 43 Items Will Collapse Many Industries, MAN tells FG .....it will lead to unemployment, insecurity, others The federal government has been advised to urgently reverse its decision to remove ban on 43 items on foreign exchange restriction by the Central Bank of Nigeria,...

Naira Hits All-time Low, Exchanges for 1,100 to a Dollar The Naira has fallen to an all-time low as it now exchanges for N1,100 per dollar in the black market. This is according to information obtained on Wednesday morning, from traders in the parallel market . The...

Dollar Supply Jumps After CBN Lifts Ban on Forex Sale   Dollar supply at the foreign exchange (forex) market reportedly soared after the Central Bank of Nigeria (CBN) scrapped restrictions on buying foreign currency required to import 43 items, in a bid to stem the local...

Job Losses, Factory Shutdown Loom as Naira Falls to 1,025/$ The naira fell further on Tuesday as it exchanged for the dollar at the parallel market between 1,005/$ and 1,025/$. Owners of small-scale enterprises, Nigeria Employers’ Consultative Association, and manufacturers has expressed concern about the falling...