Tag
EXCHANGE RATE
The exchange rate for the Nigeria Customs Service (NCS) duties collection has risen from N1,520/$ to the current figure of N1,558 to the USD.
Naira fell below N2,000 against the British pound as UK economic data exceeded expectations, impacting currency markets significantly.
The naira has suffered a significant depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, falling to N1,561.98/$1 on Wednesday, July 10, 2024.
The exchange rate for import duties by the Nigeria Customs Service (NCS) continues to rise as it hits N1549 to the USD according to the latest check on the customs exchange rate portal. This represents an increase of N37 from the previous rate of N1512/$.
Nigeria's exchange rate closed June 2024 at N1,503.3/$1, marking a 1.3% depreciation for the month.
The naira has weakened further against the US Dollar, falling to N1,500.79/$1 on the official market on June 25, 2024.
Nigeria's foreign exchange (FX) reserves have surged to their highest level since March 28, 2024, marking a significant financial milestone that coincides with the longest period of stable exchange rate seen in over a year.
A review of the recently released Company Income Tax (CIT) report for the first quarter of 2024 reveals that income tax payment by companies in manufacturing, agriculture and 12 others declined by a minimum of 16%.
The naira maintained the N1500 bandwidth against the dollar at the parallel market, while the U.S. dollar index broke higher than 105 index points.
The special adviser to the President on Information and Strategy, Bayo Onanuga, said Nigeria was spending a whooping sum of $1.5 billion monthly to peg foreign exchange before Tinubu’s unification policy in June 2023.
The foreign exchange (FX) turnover on the Nigerian official market crashed by 75.98%, hitting a three-week low on Thursday.
The value of Nigeria’s crude oil export earnings increased by 50.2% in the first quarter of 2024 to N15.4 trillion, according to data from the Nigeria Bureau of Statistics (NBS).