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Farooq

January

Home2017January
  • CBN

The Central Bank of Nigeria (CBN) has released a statement to address allegations leveled against it on wrong foreign exchange purchase figures. The statement, which was signed by Isaac Okorafor, the bank’s director of corporate communications, said the sale of forex under the new policy is most transparent. The new foreign exchange policy prioritises forex […]

Oyetunji Abioye The naira dropped against the United States dollar from 498 to 500 at the parallel market during the early trading hours on Monday, crossing the critical threshold currency analysts had predicted. Foreign exchange traders linked the development to relative scarcity of the greenback in the forex market. The local unit, however, reversed the […]

  • OPEC

• World Bank sees oil prices surging in 2017 • Global crude oil balances expected to tighten through 2018 The price of Nigeria’s Bonny Light crude oil was the second highest in December among members of the Organisation of the Petroleum Exporting Counties (OPEC), rising from $42.20 in November to $53.91 per barrel. This means […]

Asian markets retreated again Tuesday, with fears growing about the impact of Donald Trump’s presidency on the global economy as he faces a wave of criticism over his controversial immigration policy. Traders fled for the exits for a second day after the new US leader signed an executive order Friday banning entry to travellers from […]

  • dollar to naira

The federal government has asked Goldman Sachs and Stanbic IBTC Bank to advise it on the planned sale of a debut “diaspora bond” targeted at Nigerians living abroad. Africa’s biggest economy first announced plans to sell bonds targeting Nigerian nationals abroad in 2013 to raise between $100 million to $300 million. According to Reuters, Goldman […]

Dollar to Naira Rate Black Market January 31 2017. Today’s Naira Black Market Exchange Rates. Dollar to Naira. Pounds to Naira. Euros to Naira. These are the prevalent rates for Lagos. Actual rates may vary slightly based on vendor. Rates are updated during the day as they change. NAIRA (N) USD ($) EURO (€) GBP […]

  • CBN

The Central Bank of Nigeria, CBN, says the sale of foreign exchange, FX, under the new policy is transparent and not intended to benefit any individual or corporate body. Acting Director of Corporate Communications, CBN, Isaac Okorafor, in Abuja on Sunday insisted that its FX policies were not meant to favour special interests. According to […]

The country’s economy may struggle to rebound from its worst slump in 25 years unless President Muhammadu Buhari ends the Niger Delta militancy and review the nation’s foreign exchange policy that has blocked investment, economic and financial experts have said. The experts said a more favourable oil and foreign-currency environment could help the economy, Bloomberg […]

Ifeanyi Onuba, Abuja The Central Bank of Nigeria on Sunday said it had issued queries to some Deposit Money Banks that provided inaccurate information on foreign exchange to end users. The apex bank said this in a statement issued by its Acting Director, Corporate Communications Department, Mr. Isaac Okoroafor. The statement did not provide the […]

Dollar to Naira Rate Black Market January 30 2017. Today’s Naira Black Market Exchange Rates. Dollar to Naira. Pounds to Naira. Euros to Naira. These are the prevalent rates for Lagos. Actual rates may vary slightly based on vendor. Rates are updated during the day as they change. NAIRA (N) USD ($) EURO (€) GBP (£) […]