TAG: BLACK MARKET

NIGERIA: Daily Parallel Market Exchange Rate (July 24, 2017)

NIGERIA: Daily Parallel Market Exchange Rate (July 24, 2017)

Parallel market exchange rate between the Naira and three of the world's major...


[The Nigerian Economy Today 30/5/2017]- Finally, Shell Petroleum commences loading of crude oil from Trans-Forcados pipeline

[The Nigerian Economy Today 30/5/2017]- Finally, Shell Petroleum commences loading of crude oil from Trans-Forcados pipeline

Summary of the top business, economic & political news in Nigeria.   President Muhammadu Buhari’s approval of the withdrawal of Oil Prospecting Licences 2001,...


[The Nigerian Economy Daily] FG has approved the closure of five foreign missions and embassies

[The Nigerian Economy Daily] FG has approved the closure of five foreign missions and embassies

A daily compilation of business and economic news from...



CBN’s list of 36 imported items valid for forex explained

CBN’s list of 36 imported items valid for forex explained

More clarification at...


FX Window for Investors: Traders confirm it’s working but share two main concerns

FX Window for Investors: Traders confirm it’s working but share two main concerns

Nairametrics| In a bid to placate and lure foreign investors, the CBN introduced a window for investors and exporters looking to buy or sell...


Is the new investor window already in chaos?

Is the new investor window already in chaos?

It's not even up to a month...


The Nigerian Economy Today 1/5/2017

The Nigerian Economy Today 1/5/2017

Summary of the top business, economic and political news in Nigeria   NAIRAMETRICS BUSINESS & ECONOMY Currency Speculators Powering the Black Market, Says CBN...


Analysts Explain Why The FX Window For Investors Will Fail

Analysts Explain Why The FX Window For Investors Will Fail

Who will be proved...


CBN’s New FX Window For Investors and Exporters Explained

CBN’s New FX Window For Investors and Exporters Explained

Nairametrics| The Central Bank of Nigeria on Friday opened a new special forex window dedicated to investors, exporters and end users. In a circular...


The Nigerian Economy Today 20/4/2017

The Nigerian Economy Today 20/4/2017

Summary of the top business, economic and political news in Nigeria   NAIRAMETRICS BUSINESS & ECONOMY The CBN Believes This Is Why Naira Is...


The CBN Believes This Is Why Naira Is Gaining On Black Market

The CBN Believes This Is Why Naira Is Gaining On Black Market

Nairametrics| Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, disclosed that the CBN injected $100 million into the Forex market yesterday to authorized...


Flashback: Emefiele’s 2015 FT Interview (Banks Still Full of Dollars)

Flashback: Emefiele’s 2015 FT Interview (Banks Still Full of Dollars)

Nairametrics| In 2015, Central Bank Governor, Godwin Emefiele had an interview with the Financial Times. This was at the height of his FX policies which...


An Ugly Data Showed Up In March Inflation Report

An Ugly Data Showed Up In March Inflation Report

Nairametrics| The National Bureau of Statistics released its 2017 March Consumer Price Index showing inflation rate rose 17.26%. This is the second month in...


The Nigerian Economy Today 12/04/2017

The Nigerian Economy Today 12/04/2017

Summary of the top business, economy and political news in Nigeria   NAIRAMETRICS BUSINESS & ECONOMY FG raises tariff on imported tomato concentrate to...


Frustrated, Importers Reveal How CBN’s Forex Policy Is A Mess

Frustrated, Importers Reveal How CBN’s Forex Policy Is A Mess

Who can sort this...


Currency Sellers List Theories That Explain Why The Black Market Is Running Wild

Currency Sellers List Theories That Explain Why The Black Market Is Running Wild

Nairametrics| The Central Bank of Nigeria is currently in a state of flux. Despite billions sold defending the Naira, the parallel market seem to...


Will CBN’s Latest Move Against The Black Market Work?

Will CBN’s Latest Move Against The Black Market Work?

Nairametrics| The Central Bank of Nigeria issued a press release on Monday confirming that on Friday 7th April 2017 it auctioned the sum of US$418...


Our Experience Buying Forex At N360/$1

Our Experience Buying Forex At N360/$1

Nairametrics| The Central Bank of Nigeria (CBN) has instructed that commercial banks sell the dollar to customers at no more than N360. They have also instructed...


Timeline: Forex Decisions Taken By The CBN Since February 2017 (Updated April 10 2017)

Timeline: Forex Decisions Taken By The CBN Since February 2017 (Updated April 10 2017)

Nairametrics| The reign of Godwin Emefiele as CBN Governor will perhaps go down in history as one of the most tumultuous and controversial ever....


The Nigerian Economy Today 07/04/2017

The Nigerian Economy Today 07/04/2017

Summary of the top business, economy and political news in Nigeria.   NAIRAMETRICS BUSINESS & ECONOMY Nigeria needs $139 oil price to balance budget...


Short-Selling The Dollar Is Turning Into An Attractive Proposition

Short-Selling The Dollar Is Turning Into An Attractive Proposition

Nairametrics| Imagine that I borrowed $1000 from you when the exchange rate was $1/N520 with a promise to pay you back a month later....


The Nigerian Economy Today – 03/04/2017

The Nigerian Economy Today – 03/04/2017

Summary of the top business, economic and political news in Nigeria.   NAIRAMETRICS BUSINESS & ECONOMY Latest Tanker Drivers’ Strike Reveals A Striking Theory...


A Case For And Against Floating The Naira

A Case For And Against Floating The Naira

Nairametrics| On Friday, the Naira closed at N390/$ down from N520/$ in January. The development follows a change of heart by the Central Bank...


CBN Issues New Circular: “Don’t Panic, We Have Enough FX”

CBN Issues New Circular: “Don’t Panic, We Have Enough FX”

Nairametrics| A friend of Nairametrics once remarked “A Circular a day, keeps speculators away”. It appears the CBN is determined to stick to that...


CBN Net FX Inflows Drop For The First Time Since November 2016

CBN Net FX Inflows Drop For The First Time Since November 2016

Nairametrics| Official records of the CBN indicates that the external reserves as at March 29, 2017 currently stands at $30,296,992,832 . Gross external reserves...


“Concoctions” No CBN Director Has Been Arrested

“Concoctions” No CBN Director Has Been Arrested

A simple statement would have cleared the...


Understanding CBN’s Battle Against Speculators 

Understanding CBN’s Battle Against Speculators 

Nairametrics| In the popular book 48 laws of Power, author Robbert Greene writes in the 15th law that you crush your enemy totally!  It appears the...


Weekly Roundup of Business & Economic News From Nigeria (March 25, 2017)

Weekly Roundup of Business & Economic News From Nigeria (March 25, 2017)

Welcome to Nairametrics Economic and Business Review, our weekly summary of some of the most important Nigerian economic and business news. March 25, 2017...


What Next After Exchange Rate Drops Below N400 For First Time Since August 2016?

What Next After Exchange Rate Drops Below N400 For First Time Since August 2016?

Nairametrics| The exchange rate between the naira and the dollar on the parallel market has dropped below N400 for the first time since August...


BDC’s State Their Concern For Stronger Naira

BDC’s State Their Concern For Stronger Naira

One man's meat is another man's ...