Naira Drops To All-time Low Of 527/$     The naira extended its decline on Monday, sliding to an all-time low of 527 against the dollar at the parallel market. The local currency, which has been on a downward trend in recent weeks, fell to 524 against the...

Naira Exchanges For 509/$1 At Parallel Market       The naira held steady against the dollar at the parallel market on Monday at N509. The naira held steady against the greenback at the parallel market from the 509/$1 at which it closed on Friday. On the Investors and Exporters’...

Digital Currency Would Be Critical National Infrastructure, Says CBN       The Central Bank of Nigeria (CBN) has said its proposed digital currency, known as e-Naira, will be treated as a critical national infrastructure to protect it from operational and cyber-security risks. In a document obtained by The...

CBN Sets Guidelines For Payments Service Holding Companies       The Central Bank of Nigeria has issued guidelines for licensing and regulation of payments service holding companies in the country. The CBN disclosed this in a circular dated August 3, 2021 and titled, ‘Circular to all deposit money...

Naira Strengthens To 512/$1 As Banks Sell For N412/$       The naira appreciated against the dollar at the parallel market on Monday as deposit money banks set up foreign exchange teller points for customers in line with the directive from the Central Bank of Nigeria. The naira...

Forex: Mixed Reactions Trail BDC Ban In Aviation Industry       Some stakeholders in the aviation sector say the stoppage of the forex sale to the Bureau De Change operators by the Central Bank of Nigeria may take a toll on airlines while others think the policy...