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Business

BDC Operators Count Losses As Dollar Crashes To N1,130

Bureau de Change operators in Nigeria are counting losses after the naira gained N770 between February 21 and April 9, 2024.At the BDC segment...

Business

Naira Trades At N1,309 Per Dollar As Nigeria’s Economy Records Over $1.5bn Inflow

The Central Bank of Nigeria recorded an inflow of over $1.5bn into the economy over the past few days, indicating that its monetary policy...

Business

CBN Crashes Dollar To N1,269/$ At Black Market With $10,000 Sale To BDCs

The Central Bank of Nigeria has crashed the price of the dollar to N1,269 with the sale of $10,000 to all qualified Bureau De...

Business

EXCLUSIVE: CBN May Reduce N2bn Capitalisation Requirement For BDCs, As ABCON Set To Submit Input On New Regulation

After resuming forex intervention to Bureau de Change Operators (BDCs), the Central Bank of Nigeria (CBN) is willing to lower the N2bn capitalisation requirement...

Business

Forex Market Defies CBN’s Reforms As Exchange Rate Drops To Record Low Of N2,040/£

The liquidity challenges in the forex exchange market continued on Monday with the parallel market rate recording its weakest decline as the naira exchanged...

Business

Nigeria’s Stock Market Records First Weekly Fall Of 2024 Amidst Forex Crisis

A drop in equity purchases by local and foreign investors has pushed the stock market down by 2.45 per cent, signalling the first weekly...

Business

CBN Warns Authorised Dealers Against Reporting False Forex Transaction Details, Threatens Sanctions

The Central Bank of Nigeria has issued a warning to Authorised Dealers against reporting false foreign exchange transaction details concluded in the financial market.The...

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

Tinubu’s Forex Policy, Subsidy Removal Can Reverse Nigeria’s Economic Downturn- Morgan Stanley

Morgan Stanley, a US-based multinational investment bank and financial services company, has said that the unification of the naira and fuel subsidy removal introduced...

Business

Morgan Stanley Downgrades Nigeria’s Market Rating As Investors Panic Over Foreign Exchange Crisis

Morgan Stanley Capital International (MSCI) Inc, a leading provider of critical decision support tools and services for the global investment community has downgraded Nigeria’s...

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