“As a nation, we cannot afford to continue relying on the world for our food, education, and healthcare.” said Godwin Emefiele.
CBN intervenes in the foreign exchange market, the local currency, naira, on Monday May 4, 2020, appreciated against the dollar
More currency flexibility would help to protect dwindling external reserves and avert economic distortions, leaving them to only intervene when there are huge fluctuations.
The volatility of Nigeria’s foreign exchange market seems to be heading towards the 2015 crisis era as the naira has further depreciated to N450 to a...
As the country’s external reserve faces more pressure, foreign investors have been held down in Nigeria’s debt market.
The Central Bank of Nigeria (CBN) on Friday moved the official exchange rate from N307/US$1 to N360/US$1.
It appears the official exchange rate is now N368 per dollar, at least based on a bank customer’s experience and his bank’s response.