Tag
USD
The federal government is proposing that the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Port Authority (NPA) to begin collecting charges, fees, fines and others in Naira rather than in foreign currencies.
The federal government through the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has introduced new regulations requiring its oil producers to sell crude oil to local refineries in a move to reduce the country's dependence on imported refined products.
The Association of Bureau De Change Operators of Nigeria (ABCON) has requested that the Central Bank of Nigeria (CBN) prevent dollar domiciliary account holders from obtaining foreign exchange through the NAFEM and NAFEX markets.
The exchange rate of the naira to the USD has increase to N1400/$ on the parallel market marking a significant strengthening on the naira in the past few weeks.
African-founded crypto exchange, Quidax, on Friday announced the launch of a US Dollars (USD) savings feature
Nigeria's external reserve continues to plunge, as it heads to its lowest position in four years and a year-to-date decline of over $2 billion.
Trading activity in the currency market has been feeble overall, due to a holiday in the U.S.
The price decline in the safe-haven asset was triggered by an impressive U.S. jobs report.
The US dollar is weaker as traders placed a very dovish spin of the Fed shift to inflation targeting.
ETH miners are having a field day, recording the highest revenue levels since Q3 2018.