Currencies
Naira Appreciation: Increased Forex Inflows Boost Interbank Market, Say BDC Operators
The recent strengthening of the Nigerian naira has been attributed to a surge in foreign exchange (forex) inflows into the...
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CBN’s Latest OMO Auction Attracts N1.915 Trillion in Subscriptions as Stop Rates Decline
The Central Bank of Nigeria (CBN) held its latest Open Market Operation (OMO) auction on February 13, 2025, drawing significant...
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CBN Introduces New ATM Withdrawal Charges, Scraps Free Withdrawals at Other Banks
The Central Bank of Nigeria (CBN) has revised its ATM withdrawal policy, scrapping the previous provision that allowed customers to...
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Naira Continues Downward Slide, Hits N1,570/$1 in Parallel Market
The Nigerian naira extended its decline midweek, weakening further against the US dollar in both the parallel and official foreign...
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CBN Implements New Forex Rules: BDCs Limited to $25,000 Weekly Purchases
In a move aimed at regulating the retail foreign exchange market and enhancing transparency, the Central Bank of Nigeria (CBN)...
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Naira Strengthens to Seven-Month High, Gains N63 Against the Dollar
Nigeria’s currency experienced a significant appreciation in January 2025, gaining N63.72 against the US dollar to close at N1,474.78/$ at...
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Mobile Money Transactions in Nigeria Soar to N71.5 Trillion in 2024
The latest data from the Nigeria Inter-Bank Settlement Systems (NIBSS) reveals a significant surge in mobile money transactions in 2024,...
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Naira Gains Strength, Reaches N1,635/$1 in Parallel Market Amidst FX Stability
The Nigerian naira appreciated against the US dollar in the parallel market, trading at N1,635 per dollar on Tuesday, a...
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Nigeria’s E-Payment Transactions Reach Record High of N1.07 Quadrillion in 2024
Nigeria's digital payment landscape experienced an extraordinary surge in 2024, with total electronic transactions hitting an all-time high of N1.07...
Read moreCBN Sets January 31 Deadline for FX Market Compliance Report Submission
The Central Bank of Nigeria (CBN) has directed all participants in the foreign exchange (FX) market to submit a...
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