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Naira up by 6%, closes N1, 300/$ at official market

The Naira appreciated against the dollar by 5.97 percent at the official market on Wednesday.Data from the FMDQ trading platform revealed that Naira appreciated...
Business

CBN announces new interest rate Nigerian banks can charge customers

The CBN has announced that it has increased the benchmark interest rate by 24.75%This shows a 200 basis point from the earlier 22.7% it...
Business

Black market traders reveal why naira is strong against the dollar

Bureau de Change Operators of Nigeria (ABCON) has disclosed the reason the naira is gaining against the US dollarABCON President Aminu Gwadabe stated that...
Business

See new CBN's customs exchange rate for cargo clearance at the ports

The CBN has decided to slash the naira-to-dollar exchange rate for calculating Nigeria customs dutyCustoms has already begun implementation of the new rates, which...
Business

Expert says naira to continue gaining if these conditions are met

Bismark Rewane, the CEO of Financial Derivatives Company Limited, has expressed hope for Nigeria's currencyThis came as the naira recovered big, closing at N1,382.35...
Business

Nigerian Stock Market Records N247bn Loss Amidst Bullish Naira

The Nigerian stock market depreciated by 0.42 per cent resulting in N247bn loss by the end of the week amidst a rebound in the...
Business

Dollar vs Naira: Presidency issues worrying warning to currency speculators, details below

President Bola Tinubu's Information and Strategy Special Adviser, Bayo Onanuga, cautioned speculators to swiftly sell off their dollars to prevent potential lossesThe advice came...
News

Presidency to currency speculators: Drop your dollars to avoid tears

The Presidency, on Thursday, warned forex speculators to discard their dollars, saying that the Naira will soon appreciate.President Bola Tinubu’s Special Adviser on Information...
Business

See traders exchange rate target as CBN completely clears forex debts

The Central Bank of Nigeria (CBN) said it has finally cleared all the forex forward backlog owed The bank also stated that there is...
Business

Nigeria’s 2023 imports rise to N35.9tn up from N25.5tr due to naira depreciation

The total value of Nigeria’s imports rose to N35.9tn in 2023, up from N25.5tn in 2022 representing an increase of N10.4tr. This increase was...
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