Naira Exchanges For 503/$ At Parallel Market     The naira exchanged to the dollar at 503 at the parallel market on Friday according to the Bureau de Change operators. Figures obtained from naijbdcs.com, the official website for the licensed BDCs by the Central Bank of Nigeria showed...

In Four Months, Currency in Circulation Drops By N65.74bn     The currency in circulation fell by N65.74bn to N2.741tn at the end of June from N2.81tn in March, the latest figures from the Central Bank of Nigeria showed on Wednesday. According to the CBN, the currency in...

Dangote Refinery, Others To Buy Crude In Naira According To PIB     Holders of refining licences in the country can pay for domestic crude oil supply in naira, according to the Petroleum Industry Bill passed by the National Assembly on Thursday. Companies holding refining licences include Dangote...

CBN Warns Against Naira Abuse       The Central Bank of Nigeria has frowned on continued abuse of currency note by the general public, especially during weddings and other occasions. Speaking on Monday in Gombe at a Fair with the theme ‘Promoting Financial Stability and Economic Development’, Principal...

Naira Relapses To N500/$1 Despite Marginal Gains     The naira yesterday depreciated to N500/$1 after recording marginal gain against the greenback at the weekend. The naira closed last week at N498/$1, N2 weaker than current position of the local currency. Also, foreign exchange (forex) reserves have dropped to...

Naira Weakens To 4-Year Low As Dollar Sells For N502/$1   Nigeria’s currency weakened to a four-year low in the parallel market after the central bank’s efforts to coax banks to sell more dollars to customers failed to bridge the widening gap between the official and...