CBN Adjusts Customs Duty Exchange Rate, Reduces Costs for Importers
The Central Bank of Nigeria (CBN) has implemented a new exchange rate for calculating customs duties, offering relief to importers ...
Tag: CBN
Naira Rebounds in Official Market but Struggles in Parallel Market
The Nigerian naira made a notable recovery in the official market on Wednesday, August 21, 2024, after a sharp depreciation ...
Inconsistent Dollar Supply by CBN Hinders Naira Recovery, Say BDC Operators
Currency traders have blamed the persistent depreciation of the naira and the volatility in Nigeria's foreign exchange (FX) market on ...
FX Turnover Drops by 21% in Early August Amid CBN’s Retail Dutch Auction
The Nigerian foreign exchange (FX) market witnessed a significant downturn in turnover during the first two weeks of August 2024, ...
CBN Governor Praises IFRS Adoption for Boosting Nigeria’s Banking Sector Growth
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has lauded the significant growth in Nigeria’s banking ...
Fitch Downgrades Union Bank’s Credit Rating Amid Capital Adequacy Concerns
Fitch Ratings has downgraded the long-term issuer default ratings (IDR) of Union Bank of Nigeria, citing concerns over the bank's ...
CBN Lowers Customs FX Rate for Cargo Clearance Following Naira’s Gains
The Central Bank of Nigeria (CBN) has reduced the foreign exchange (FX) rate for importers to clear goods at Nigerian ...
CBN Announces Job Vacancy for Director-General at West African Monetary Agency
The Central Bank of Nigeria (CBN) has announced an exciting job opportunity for qualified professionals, seeking to fill the position ...
Nine Companies Secure $25.76 Million in CBN’s Retail Dutch Auction for Loan Repayments
In a recent Retail Dutch Auction conducted by the Central Bank of Nigeria (CBN) on August 6, 2024, nine companies ...
Dangote Group Secures $105.33 Million in CBN’s Latest FX Auction
The Dangote Group has emerged as a significant player in the latest Retail Dutch Auction conducted by the Central Bank ...
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