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The newly implemented foreign exchange market system by the Central Bank of Nigeria (CBN) has been credited for the recent surge in the value of Nigeria’s...
The Central Bank of Nigeria (CBN) has issued a cautionary notice to the public regarding fraudulent ‘Swift’ messages and unfounded assertions concerning foreign currency transfers that...
President Bola Tinubu‘s government has announced that Nigeria’s deepwater oil projects now yield competitive returns, elevating the nation from the lowest quartile among 13 indexed countries...
The value of the United States Dollar experienced a significant surge, while Bitcoin also achieved a record high on Wednesday as investors positioned themselves for a...
Nigeria’s legal tender, the naira, now ranks as the third worst-performing currency globally, following a steep 70% loss in value against the dollar this year. It...
Members of the Organised Private Sector and Civil Society Organisations have expressed deep concerns over the worsening economic conditions in Nigeria, highlighted by escalating inflation, rising...
The Nigerian naira faced a significant depreciation in the official market on Wednesday, trading at ₦1,669.15 to the dollar. Data from the FMDQ Exchange, which manages...
The Central Bank of Nigeria (CBN) has confirmed that it sold foreign exchange (FX) to banks worth $876.26 million at ₦1,495 per dollar. According to a...
The Central Bank of Nigeria (CBN) has given the green light for the exchange of foreign currency (FX) to qualified Bureau de Change (BDC) agents at...
Each nation of the world has a legal tender which makes it possible to conduct transactions either locally or internationally and, in some cases, both ways....
The Naira depreciated by over 40 percent in the first half of 2024 in the foreign exchange market. FMDQ data showed that the Naira weakened to...
The Central Bank of Nigeria (CBN) has released updated guidelines for Deposit Money Banks (DMBs) regarding the deposit of foreign currency notes with the apex bank....
The Nigerian currency, the Naira, experienced a positive shift in the parallel market, strengthening to ₦1,375 per dollar compared to ₦1,500 per dollar on Tuesday. However,...
The Nigeria Customs Service (NCS) has recently adjusted its foreign exchange (FX) rate for tariffs and duties to ₦1,480 per dollar. Naija News understands that this...
The Naira depreciated against the Dollar for the first time since last Thursday in the foreign exchange market, coinciding with the Central Bank of Nigeria’s issuance...
The Nigerian Naira has continued its upward trajectory against the US Dollar, marking its fourth consecutive day of gains in the foreign exchange market. According to...
The Economic and Financial Crimes Commission (EFCC) has intensified its efforts against illegal dollar transactions in Nigeria, warning businesses and individuals against illegal dealing in foreign...
The Nigerian currency, the naira, continued its downward trajectory on Monday as it faced further devaluation against the US dollar in the foreign exchange market. Naija...
The Economic and Financial Crimes Commission, EFCC, has revealed that it did not ban foreign missions from transacting in dollars as the anti-graft agency continues efforts...
Nigeria’s currency, the naira, has taken a sharp downturn, becoming the world’s worst-performing currency in the past month, a recent Bloomberg report highlights. This development has...