Tag
BDC
The Nigerian naira has demonstrated relative stability in the parallel market, trading at N1,570 per US dollar from Wednesday through Friday, December 14, 2025.
The Central Bank of Nigeria (CBN) has revised its guidelines, permitting licensed Bureaux de Change (BDCs) to purchase foreign exchange directly from Authorized Dealers.
A Bureau De Change (BDC) operator, Ayuba Tanko, has denied transacting directly with the former Governor of Anambra State, Willie Obiano during his administration.
The naira has suffered further depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, closing at N1,603.80/$1 on Thursday, July 25, 2024.
The Central Bank of Nigeria (CBN) has issued a stern warning to Deposit Money Banks (DMBs) and authorized forex dealers, emphasizing the mandatory acceptance of old and lower denominations of United States Dollar (USD) bills from customers.
The naira held its ground on the unofficial market, appreciating against the dollar on the parallel market as the dollar index posted some losses amid profit-taking.
The Naira continued its decline across the country's unofficial FX market, depreciating to a new low of 1,540 per dollar on the parallel market despite a falling U.S. dollar index.
The Nigerian naira traded near its April low, while the dollar index approached a six-month high as the anticipation of a Federal Reserve meeting kept traders largely biased towards the greenback.
The naira has continued its recovery against the US dollar at the parallel market as it appreciated to N1280/$1 on Saturday
The naira recorded significant depreciation against the haven currency in a matter of few weeks despite the recent decline in the US dollar index, influenced by weak U.S economic data.
The level of inflation in the country for the month of March 2024 and experts interviewed by Nairametrics have predicted higher rates compared to the previous month.
Nigeria’s foreign exchange (FX) reserve has experienced a sharp decline of about $1.02 billion within a span of 18 days, as the CBN continues its aggressive defence of the naira.