FOREX: Turnover In I&E Rises By 132% To $2.6bn       The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange (forex) market rose sharply by 132 per cent month-on-month (MoM) to $2.6 billion in May, 2021 from $1.12...

Forex: ABCON Bans Street Hawking, Moves To Cut Rate       The Association of Bureau De Change Operators has said it will commence what it called ‘Operation No Street Trading’ to stop the hawking of foreign exchange by BDC operators. The President, ABCON, Alhaji Aminu Gwadabe, said this...

Naira In Best Health Against Dollar - Garba Shehu       Senior Special Assistant to the President on Media and Publicity, Garba Shehu, says the naira in its best possible health against the dollar. He spoke while featuring on Channels Television’s ‘Sunday Politics’ programme. The Economic Confidential had earlier...

CBN Plans Digital Currency As Naira Slips To 490/$ At Parallel Market       The naira exchanged to the dollar at N490/$ at the parallel market on Thursday. According to naijabdcs.com, the official exchange rate website of the Central Bank of Nigeria for the Bureau de Change operators,...

Experts Fault Naira Devaluation, Say Poverty Level Will Rise       Against the backdrop of the recent devaluation of the naira by the Central Bank of Nigeria, economic and financial experts have said the poverty level in the country will increase. The Economic Confidential had reported on Wednesday...

CBN Devalues Naira To N410.25/$1         The Central Bank of Nigeria (CBN) has devalued the naira to N410.25 to dollar. The devaluation of the local currency was confirmed by the adoption of the Nigerian Autonomous Foreign Exchange Rate (NAFEX), also known as the Investor and Exporter (I&E)...