CATEGORY: CURRENCY

Implications Of The CBN Circular on Virtual Currencies (VC) Operations In Nigeria

The Central Bank of Nigeria (CBN) yesterday released a circular concerning Virtual Currency (VC) operations in Nigeria. While the...


Emefiele Reveals Successes Of Flexible Exchange Rate

The CBN Governor reveals the successes recorded by the flexible exchange rate...


CBN Tightens Rules For Retail Bureaux de Change As The Naira Drops

The Central Bank of Nigeria (CBN) on Friday revised the rules for operating retail bureaux de change in a...



[Not Again] Naira Crashes To 251 At Black Market As Dollar Reserve Drops

The naira dropped 2% to a low of 251 to the dollar on the unofficial market this week as the Central...


Naira Partially Recovers From Friday’s Low, Exchanges For N250

The naira traded at N250 on the unofficial market on Monday, just up from Friday’s low of N251, as dollar...


Naira Eases On Parallel Market After CBN Tightens Dollar Supply

The naira  eased 2.17 percent against the dollar on the parallel market on Monday after the Central Bank of...


CBN Strengthens Forex, Pegs 196.98 To A Dollar

The Central Bank of Nigeria strengthened its exchange rate peg slightly to 196.98 naira against the dollar on the...


Forex Inflow Falls By N678bn

 Inflow of foreign exchange  into Nigeria fell by N678bn ($3.39bn) between January and June this year, findings from various...


Nigeria’s foreign exchange reserves rise by 1% by May 15

Data from the Central Bank of Nigeria showed on Tuesday May 19 that the foreign exchange reserves rose marginally...


Three reasons why some analysts believe the Naira is overvalued

If you talk to currency dealers or foreign investors, the vibes you get is that the Naira is still...


CBN says Govt. did not over spend 2014 Budget by N482billion but by N365billion

The Central Bank of Nigeria (CBN) on Tuesday described as erroneous reports in the media that the federal government...


[$20b SCANDAL] This yam, this goat this country, NNPC vs PWC(Part 1)

“Friends and countrymen; I beseech you by the mercies of God that ye do whatsoever it is within thine...


[BUDGET] Lame duck Senate pass 2015 budget without fuel subsidy

The Nigerian senate passed the nation’s 2015 budget on Tuesday assuming a lower oil price benchmark of $53 per...


The 5 major issues Fitch sees with the incoming APC Government

Global rating agency Fitch has issued a statement reflecting on post election Nigeria and what to expect from the...


This is the official CBN circular reducing dollar usage from naira debit cards to $50,000

It is official, the Central Bank of Nigeria has now reduced the limit a person can spend from their...


CBN projects naira will continue to strengthen following successful elections

Bloomberg reports portfolio inflows to Nigeria jumped since last month’s presidential elections, easing pressure on the currency of Africa’s...


How to profit from arbitrage when you use your ATM card abroad.

The CBN and the bankers committee issued a statement after the Bankers committee meeting saying that it will from...


Why CBN wants to stop you from using your ATM cards abroad

The CBN is at it again!! The Bankers Committee and the CBN at the completion of its Bankers Committee...


Why foreign investors think devaluation is coming…. and what you could do about it

For those who are hopeful that the just concluded 2015 election that ushered in General M Buhari could continue...


B-E-W-A-R-E: CBN threatens jail term for anyone who uses dollars for local transactions

The CBN has issued a press release warning businesses and individuals who seek to “dollarise” the economy by requesting...