Tag: Naira

September 14, 2023

The exchange rate between the naira and the US dollar traded for an average of N945/$1 on Thursday, September 14, ...

CBN Allows Oil Companies to Resume Dollar Sales to Banks in Effort to Boost Supply.

CBN’s Bold $10 Billion Forex Backlog Resolution: A Gambit Worth Watching

September 11, 2023

The Central Bank of Nigeria (CBN) has set an audacious target - to clear a lingering $10 billion foreign exchange ...

Foreign Reserve and Repatriation of Dollars Triggers Naira Depreciation- RateCaptain Analyst

Naira’s Appreciation Continues: Value Breaks Below N850 Mark in Parallel Market.

September 12, 2023

In an unexpected turn of events, the Nigerian naira has demonstrated a significant appreciation in the parallel market, breaking below ...

Banks Release $533.48 Million for Foreign Education through Central Bank of Nigeria.

In a bid to cater to the increasing demand for foreign education, Nigerian banks have disbursed a total of $533.48 ...

EIU Predicts Naira’s Decline to N1,018 per Dollar Amidst Soaring Inflation.

The Economist Intelligence Unit (EIU) has predicted that the pressure on Nigeria's currency, the naira, is likely to persist in ...

Nigeria’s Economy at Risk: UK’s Naira Deal Sparks Liability Concerns and Sky-High Interest Rates

Britain to add Nigeria’s naira to list of accepted trade currencies.

In a move signaling its commitment to bolstering trade ties with Nigeria, Britain's export finance agency has announced the inclusion ...

CBN Instructs Banks to Provide Naira Payouts for Diaspora Remittance Beneficiaries

The Central Bank of Nigeria (CBN) has introduced the Naira as a payout option for recipients of proceeds from international ...

CBN Allows Oil Companies to Resume Dollar Sales to Banks in Effort to Boost Supply.

The Central Bank of Nigeria (CBN) has given International Oil Companies (IOCs) the green light to resume the sale of ...

Naira depreciated further to N763/$ at the Investors and Exporters Windows.

On Thursday, June 22, 2023, the Investors and Exporters window recorded depreciation in the value of the naira as it ...

Nigeria’s Airfares Soar as Exchange Rate Hits N702 per Dollar.