Forex: CBN receives bid for $100m

The Central Bank of Nigeria (CBN) says it has received bids for foreign exchange (forex) of about 100 million dollars from authorised dealers in the interbank market to meet the…

 
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Don’t be fooled by the Naira biggest black Market gain in a year

The rally, sparked by increased sales of foreign-exchange forwards and looser capital controls, is contingent on the central bank continuing to sell down its reserves. And until it devalues or makes…

 
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Naira falls to record low of N500 to Dollar on black market

The Naira dropped to a record low of 500 to the dollar on the black market on Monday, even though Nigeria’s foreign reserves rose to their highest in a year,…

 
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Nigeria likely to devalue naira this year, central bank on hold

Nigeria will devalue its currency, the naira, later this year in an effort to improve liquidity and close the gap between the official and exchange parallel markets, a Reuters poll…

 
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Nigeria’s Euro-bond appreciates, Naira Value Depreciates as CBN forex sale drop by 25% …

THE Central Bank of Nigeria (CBN) last week reduced its weekly foreign exchange sale to banks by 25 percent, even as prices of Nigeria’s Eurobond rose amid renewed investor’s interest….

 
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Eroding Value of Nigerian Naira- ranked among four worst global currencies in 2016

The naira is one of the world’s four worst performing currencies in 2016, according to a report by Bloomberg LP. The naira was said to have lost 36.68 per cent…

 
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Nigeria spends $10m dollars daily on wheat – El-Rufai

Kaduna State Governor, Nasiru El-Rufai says Nigeria spends ten million dollars daily on wheat while 90 percent of wheat consumed in the country is imported. El-Rufai stated this during the flag…

 
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Oil Marketers Seek FOREX for Fuel Import Ahead of Xmas

Major oil marketers operating under the aegis of Major Oil Marketers Association of Nigeria (MOMAN), have called on the relevant authorities to make foreign exchange accessible to its members to…

 
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NNPC

Fuel Price: Oil marketers Nigeria raises alarm over imminent increase

Owing to the continued scarcity of foreign exchange to finance the importation of oil products, Nigerians have been asked to prepare for another increase in the pump prices of petrol….

 
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MTN Posts First-Ever Loss, Blames its on Nigeria’s fine , forex woes

MTN Group Ltd. reported a first-ever per-share loss as a public company as Africa’s biggest mobile-phone operator agreed to settle a record fine in Nigeria and was hurt by weaker…

 
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