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Naira Exchange Rate

Nigeria’s daily parallel market exchange rate tracker

BOOM: FMDQ Suspends Spot FX Closing Rate, Confirming Flexible Exchange Rate Is Broken

The FMDQ OTC, the official market for bonds, treasury bills and forex trading has approved the suspension of the FMDQ Spot FX Closing Rate...

Scarcity Of Dollars Hits Parallel Market As CBN Unleashes SSS On BDCs

In another twist in the drama called Nigerian flexible exchange rate market, parallel market operators offered to buy dollars from willing sellers at prices...

Naira Settled Currency Futures Records Highest Daily Trading Volume in October

The daily trading volume of Nigeria Settled FX currency futures   has plunged over the past weeks as the original excitement that greeted its introduction...
Source: Quantitative Financial Analytics

Nigeria Daily FX Futures Market Tracker (Updated October 24, 2016)

A daily update of activities in Nigeria's foreign exchange futures market

These Analysts Explained Why Banks Stopped The Use Of Debit Cards For Forex...

They also explained what it could mean for the exchange rate.
CBN Governor, Godwin Emefiele

Emefiele Reveals Successes Of Flexible Exchange Rate

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

Why Naira Is Falling Like A House of Cards (Now N446/$1) – Trader

We are gradually closing in on N500/$1
CBN Gov Godiwn Emefiele

Boom: External Reserves Fall Below $25 billion!

The naira has a long way to go from strengthening.
Nigerian Immigration Service NIS jobs, National Information Technology Development Agency, NITDA begins investigation of Banks and NIS over data breach

CBN Issues New Forex Policy On Portfolio Investment For Resident/Non-Resident Nigerians

Another new CBN Policy...this time it is aimed at local foreign portfolio investors.
Nigerian Immigration Service NIS jobs, National Information Technology Development Agency, NITDA begins investigation of Banks and NIS over data breach

Why CBN Banned These 9 Banks From The Forex Market 

Another flip flop in the making?

Why Dollar Remains Scarce At The Bureaux De Change Market

A few weeks ago The Central Bank of Nigeria issued a circular instructing commercial banks in Nigeria to start selling forex to BDCs believing that it will reduce the dollar scarcity
Nigerian Immigration Service NIS jobs, National Information Technology Development Agency, NITDA begins investigation of Banks and NIS over data breach

Alert: CBN increases forex allocation to BDCs to $50k/week

Reports reaching Nigeria reveals that the Central Bank of Nigeria (CBN) has increased the limit that banks can sell to Bureaus De Change (BDCs)...

Exchange rate hits N400/$1 at the parallel market as summer holiday hikes demand

Nigeria's exchange rate dropped to a new low of N400 to the $1 at the parallel market on Thursday. This is the lowest we...

Controversies trail CBN’s decision to clamp down on foreign money transfers

The Central Bank of Nigeria has revoked the licenses of all money transfer companies, except three, citing "the greater economic good of Nigeria," as...
FCMB Logo

Alert: CPC orders FCMB to refund N1.5 billion in excess charges to Bauchi state

Nigeria's mid tier lender, First City Monument Bank (FCMB) to refund, has been ordered by The Consumer Protection Council (CPC) to within 30 days, refund...
Nigerian stocks March

What to expect this week – #Stocks, #TreasuryBills, #FDI, #FPI

  Commentary MPC raises interest rates by 200bps from 12% to 14% The Naira started to see increased levels...

CBN Instructs Banks To “Immediately” Write Down Losses On Foreign Currency Loans

The Central Bank of Nigeria has instructed commercial banks to "immediately" write off loan the increase in foreign currency denominated loans which emanated as...

TY Danjuma bails out troubled ntel, Becomes Chairman

​Nairametrics has learnt that General T.Y Danjuma has made significant investment in ntel the struggling telecoms firm. NatCom Development & Investment Limited “NatCom” (trading as...

CBN Raises MPR To Record 14%

The Central Bank of Nigeria (CBN) Governor Godwin Emefiele has announced an increase of the benchmark monetary policy rate from 12% to 14% the...
Nigerian Immigration Service NIS jobs, National Information Technology Development Agency, NITDA begins investigation of Banks and NIS over data breach

CBN Instructs Banks To Sell Forex To BDC’s, What it Means

The Central Bank of Nigeria has issued a new circular on Friday announcing that it has given Bureau De Change operators (BDC) permission to...

Naira Hits N319 At The Interbank (Mid-day Trading)

The Naira suffered another major dent mid-day trading on Friday at the interbank after it hit another all time low of N319 to the dollar...

Uber Is Working With PWC To Help Drivers Pay Their Taxes

LAGOS, Nigeria, July 18, 2016/ -- Charging to drive someone around Lagos was chiefly a cash-in-hand job before Uber (www.Uber.com) launched in Nigeria two...

Regulatory Intervention In Skye Bank Plc: Outcome Of Failure In Corporate Governance

On Monday July 4, 2016, the Central Bank of Nigeria (CBN) released a Press Statement on Skye Bank to inform the public of its...

BOOM: Fitch Downgrades UBA & First Bank

Fitch Ratings yesterdayv downgraded First Bank of Nigeria Ltd's (FBN) and United Bank for Africa's (UBA) the Long-Term Foreign Currency Issuer Default Ratings (IDRs)...

Import Duties Exchange Rate Rises To N282; Here Is How It Works

Since the Central Bank of Nigeria introduced floated the Naira via its Flexible Exchange Rate Policy, the exchange rate between the Naira and the...