![At least 40 dead in Moscow concert hall attack, Ukraine Denies Involvement Rivers Assembly Overrides Fubara, Enacts New Law Breaking: Former Community Youth Leader, Four Others Shut Dead in Egbema, Imo State [VIDEO] Tragic Incident in Enugu: Mother of Three Commits Suicide After Abandoning Children at Police Station BREAKING: Three-storey building collapses as Ebute Metta, Lagos Akwa Ibom pastor Solid Rock Church, Apostle John Okoriko abia uturu student gunmen Asuu suspends strike bonny lga chairman Hon. David Rogers Irimagha Another Kidnapped Victim, Suleiman Sabo rescued by Police In Abuja](https://reportafrique.com/wp-content/uploads/2020/12/report-afrique-breaking-news-110x110.jpg "Breaking: Four Dead As Fire Outbreak Engulfs Dozens Of Vehicles in Eleme, Rivers State 4")
Forex Review
Naira Further Depreciates to N1,300/$ In Foreign Exchange Markets
In the latest developments in the Nigerian financial landscape, the Naira has witnessed a notable depreciation against the US dollar, surpassing the parallel market rate by a significant margin. According to data sourced from the Nigerian Foreign Exchange Market (NAFEM)… Continue Reading
Naira’s Remarkable Turnaround: CBN Governor Cardoso’s Insights into Nigeria’s Currency Journey
In an exclusive interview conducted during the IMF/World Bank Spring Meetings in Washington DC, Mr. Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), provided valuable insights into his vision for shaping Nigeria’s monetary policy, addressing foreign … Continue Reading
Nigeria’s Foreign Reserves at $32.29 billion, Lowest in 6Years
Nigeria’s foreign reserves have hit a six-year low, dropping to $32.29 billion as of April 15, according to the latest data from the Central Bank of Nigeria (CBN).
This marks a significant decrease from the peak of $34.44 billion, which … Continue Reading
Bureau De Change Operators Urge Central Bank of Nigeria to Lower Exchange Rate Amidst Naira’s Recovery
The Association of Bureau De Change Operators of Nigeria (ABCON) has appealed to the Central Bank of Nigeria (CBN) to adjust and lower its applicable exchange rate downward below the N1,251/$ it pegged for the Bureau De Change (BDC) operators. … Continue Reading
Nigeria Customs Exchange rate for cargo clearance drop to N1260/$
The Nigeria Customs Services (NCS) has experienced a significant drop in the foreign exchange rate for cargo clearance at ports and other goods entry points, with the rate declining to N1260.49/$ from N1330/$ in recent days.
This decrease represents a … Continue Reading
ABCON Commends CBN’s Decision to Resume Dollar Sales to Bureaux De Change
The Association of Bureaux de Change Operators of Nigeria (ABCON) has lauded the Central Bank of Nigeria (CBN) for its recent decision to resume dollar sales to Bureaux De Change (BDCs). This move has been hailed as a significant … Continue Reading
Naira Surges in Value, Sells for N900 Per Dollar in Lagos Black Market
In a recent turnaround, the value of the Nigerian naira has soared in Lagos and Kwara States, trading between N900 and N1,210 per dollar on the black market on Wednesday.
This remarkable increase comes in the wake of actions taken … Continue Reading
CBN Sells $10,000 to Each BDC at N1,251/$1, Sets Ceiling for Selling Price
The Central Bank of Nigeria (CBN) has taken a decisive step to enhance liquidity in the retail segment of the foreign exchange (forex) market by issuing a circular to Bureau De Change operators (BDCs). In the circular, the CBN disclosed … Continue Reading
CBN Clears $7 Billion FX Backlog as External Reserves Soar to $34.11 Billion
The Central Bank of Nigeria (CBN) announced a significant milestone in its efforts to stabilize the country’s economy as it declared the clearance of all valid foreign exchange backlogs amounting to $7 billion.
Acting Director of Corporate Communications, Mrs Hakama … Continue Reading
Presidency Warns: Dump Your Dollars to Avoid Tears, Naira Set to Appreciate
The Presidency has issued a stern warning to forex speculators, urging them to divest their holdings in dollars. The call comes amidst promising indicators suggesting that the Naira is poised to appreciate in value in the near future.
Bayo Onanuga, … Continue Reading