10 results
- 3 Sept 2021
Naira Crashes to N532/$ at Parallel Market as CBN Vacates PND on 33 BDCs
The naira on Friday traded at all time low of N532 to dollar at the parallel market. The naira also dropped among other major currencies as it exchanged at N621/Euro, N721/ British Pounds Sterling.…
- 2 Feb 2016
Bureaux de Change Operators to Sack 30,000 Workers
Alhaji Aminu Gwadabe, president, Association of Bureau De Change Operators of Nigeria (ABCON), yesterday said that some 30,000 bureaux de change (BDC) workers would be sacked within the first quarter…
- 21 Jul 2016
Confusion as Naira Falls to N373 to Dollar
The foreign exchange market swung left and right yesterday, forcing the Naira to drop to a new low in both the official and parallel markets, exchanging at N292.90 and N373 to the dollar respectively…
- 15 Aug 2014
CBN Gets Platform to Reduce Forex Demand
Central Bank of Nigeria (CBN) has unveiled a new remittance platform that would help reduce the demand for foreign currencies in the country. The platform, known as the Outbound Remittance Service is…
- 15 Jul 2016
FG Lacks Ideas to Turnaround Economy, Gloom Ahead- Bloomberg
Bloomberg, the very authoritative new source has reported that President Muhammadu Buhari’s government lacks ideas on how to reverse Nigeria’s economic conundrum and warned that the country’s economy…
- 3 Sept 2020
Naira Roars Back to Life in Parallel Market
By Lukman Otunuga, Senior Research Analyst at FXTM, The Naira has marched into September with a renewed sense of confidence, rallying to its strongest level since April on the black markets as…
- 29 Nov 2019
Adegoke, Fidelity Bank Staff Claims He Paid 18Bn into Mompha, Fraudster’s Kingpin Account
Peter Ademola Adegoke, prosecution witness, a compliance officer with Fidelity Bank Plc, on Friday told Justice Abdullai Liman of the Federal High Court in Ikoyi, Lagos how the sum of N18bn was paid…
- 16 May 2021
CBN Signals Harmonisation of Forex Rates with Removal N379/$1 Rate from Website
Central Bank of Nigeria (CBN) at the weekend began gradual harmonisation of exchange rates with the removal of N379/$1 official rate from its website. The move by the apex bank is one of the first…
- 18 Apr 2019
UAE to Kill 8 Nigerians for ATM Robberies
Eight Nigerians, all men, have been sentenced to death in Sharjah, United Arab Emirates (UAE) for a string of robberies at money exchanges and cash machines (ATMs) across the emirate in December…
- 15 Jul 2015
NNPC’s Withdrawal of $1.2Bn Triggers Panic in Banks
Nigerian National Petroleum Corporation (NNPC) has withdrawn $1.2 billion (N240 billion) from banks, triggering more dollar liquidity squeeze in the money market and causing the value of the naira to…