Currencies
Nigeria's daily parallel market exchange rate tracker
CBN sells $106.5 million to 29 FX dealer banks, blames demand pressure for naira fall
The Central Bank of Nigeria (CBN) has announced the sale of $106.5 million as foreign exchange (FX) to 29 FX...
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CBN may spend up to $110.81 million in FX sales to BDCs this year
The Central Bank of Nigeria (CBN) may spend up to $110.81 million to sell foreign exchange (FX) to eligible Bureau...
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Shareholders condemn FG’s 50% windfall tax on banks’ forex gains
The New Dimension Shareholders Association of Nigeria has strongly criticized the Federal Government's decision to impose a 50% windfall tax...
Read moreDetailsCBN to sell $20,000 to each BDC at N1,450/$1
The Central Bank of Nigeria (CBN) has announced the approval of the sales of FX to eligible Bureau De Change (BDCs)...
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Exchange rate crosses N1,600/$1 at parallel market, hits N1,630/$1 on online platforms
Parallel market operators are quoting a buy price above N1,600/$1 for holders of naira looking to buy dollars, as the...
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Exchange rate for customs duties collection rises above official market rate again
The exchange rate for duties collection by the Nigeria Customs Service (NCS) has risen by N3 above the official closing...
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FG to tax banks 50% of realised profits on FX gains in amended 2023 Finance Act
The federal government plans to tax bank 50% of profit realised from foreign exchange revaluation in 2023.
Read moreDetailsTinubu seeks to tax FX gains by banks in proposed amendment to finance act
President Tinubu has asked the Senate to amend the 2023 Finance Act to impose a one-time windfall tax on the...
Read moreDetailsTrump’s effect, high dollar demand push naira to lowest level since March 15
The naira fell for a fifth day against the greenback despite the CBN's assistance, hitting its lowest level since March...
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Pharmaceutical companies can no longer cope with forex scarcity as multinationals withdraw- PMG-MAN
The Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMG-MAN) expressed serious concerns over the scarcity of foreign exchange...
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