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Business

CBN To Introduce New Forex Guidelines For Banks, BDCs To Save Value Of Naira

The Central Bank of Nigeria (CBN) has said that it will introduce a new foreign exchange guideline for banks and Bureau de Change operators...
Business

CBN Reveals Why Cash Is Scarce In Some Parts Of Nigeria, Warns Against Panic Withdrawals

The Central Bank of Nigeria has explained that the scarcity of cash in some parts of the country is due to high volume withdrawals...
Business

Naira Drops To N935 Per Dollar As Forex Crisis Worsens

The Naira has slumped across the black market segment of the foreign exchange market trading at N935 per US dollar.Figures obtained from various Bureau...
Business

BREAKING: CBN To Resume Sale Of Dollars To BDCs, Demands Daily Rendition Of Forex Utilization

The Central Bank of Nigeria has announced measures to reintroduce Bureau de Change Operators in Nigeria into the foreign exchange market a few days...
Business

INTERVIEW: Forex Crisis: Naira Is Under Attack Because It Lacks Fundamentals–Gwadabe, ABCON President

The Central Bank of Nigeria in its drive to improve the efficiency of the Nigerian foreign exchange market released a circular dated August 17...
Business

Fear Grips BDCs Over NNPC’s $3bn FX Intervention As Dollar Set To Crash Below N800

Bureau de change operators in Nigeria are jittery about the potential of the dollar to crash below N800 after the Nigerian National Petroleum Company...
Business

Dollar Falls To N755 At Black Market As Tinubu Vows To Unify Exchange Rate

Nigeria’s unofficial foreign exchange market reacted positively on the inauguration day of Bola Ahmed Tinubu as Nigeria’s 16th President.The black market opened on Monday...
Business

Forex Traders Count Losses As Cash Crunch Worsens

Nigeria’s cash shortage is forcing black market forex traders to lose a fortune daily on the account of the Central Bank of Nigeria’s cash...
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