Poll : Do you think the CBN should devalue the Naira ?

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Naira appreciates in biggest recovery in months

The Naira on Friday appreciated in what is about biggest recovery for the currency in months.Within the last 48 hours, dollar crashes to N430, it was N520 before — and…

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Flour Mills Says Dollar Shortage Boosting Sales

…Company sees corn prices more than double due to higher demand Flour Mills of Nigeria Plc, the country’s biggest miller by market value, said a shortage of dollars in Africa’s…

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Black Market

Forex Black Markets: Money-Changers Are Going Underground

On the teeming streets of Lagos, the Nigerian mega-city of 15 million people, the once omnipresent money-changers are going underground. They’ve become the latest target of authorities desperate to bolster…

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Forex Scarcity: Foreign Airlines cut flights to Abuja as currency crisis deepens

Two international airlines have announced plans to suspend flights to the Nigerian capital Abuja by next month due to falling demand as a currency crisis in Africa’s top economy deepens….

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Analysis: Nigerians, CBN and the Dollars sell Out-sourcing Magic

It is a known fact that the present Central Bank of Nigeria, CBN board as well as its Monetary Policy Committee clearly has a mandate which is to defend the…

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FX liquidity to remain tight, bad loans rising – CBN

Currency market liquidity in Nigeria is set to remain challenging in the second half of 2016 due to low oil prices, which could push up credit risks for lenders as…

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Managing Director Felix Nwabuko

Top Nigeria Palm-Oil Producer makes Profit amidst Forex Scarcity

Nigeria’s ban on importers accessing foreign exchange for certain products is proving a boon for the country’s biggest palm oil producer as it stokes demand for domestic goods. Profit at…

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Forex scarcity is a ‘major challenge,’- Nestle and Airtel CEOs

The Nigerian units of Bharti Airtel Ltd. and Nestle SA said shortages of foreign exchange in the West African nation are hindering their operations and ability to import equipment. “It…

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Nigeria’s foreign reserves fall to $25.45 bln

Nigeria’s foreign exchange reserves fell to $25.45 billion by Aug. 29, down 2.86 percent from the previous month, Central Bank latest data showed on Wednesday as the bank stepped up…

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