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Farooq

March

  • CBN

The Central Bank of Nigeria (CBN) says Nigerians should put a call through to the apex bank, if any commercial bank does not give foreign exchange for genuine demand in 24 hours. Reacting to comments on customer frustration by some deposit money banks (DMBs), the CBN said DMBs have more than enough forex to meet […]

By Chijioke Ohuocha and Oludare Mayowa LAGOS, March 31 (Reuters) – Nigeria’s forex reserves fell to a two-week low and the naira eased on the black market on Friday after the central bank pledged to step up dollar sales but also said it would announce a new currency rate for retail exchange bureaus next week. […]

The naira has continued its downward trend, falling further to 390 to a dollar as against its 385 stand at the close of business on Thursday. Also, the nation’s foreign reserves took a break from its upward journey, losing about $52 million to stand $30.296 billion from $30.348 billion. The liquid amount in the reserves is […]

LAGOS, March 31 (Reuters) – Nigeria’s dollar reserves fell to a two-week low of $30.29 billion on March 29, central bank data showed on Friday. Nigeria’s central bank has been intervening on the currency market this month to support the ailing naira after it effectively devalued it in a bid to narrow the spread with […]

  • CBN

Oyetunji Abioye and Ifeanyi Onuba The Central Bank of Nigeria on Thursday said it would from next Monday begin the sale of foreign exchange to Bureau De Change operators twice weekly. The Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, who confirmed this, stated that the move was part of the apex bank’s determination […]

Increasing demand for the dollar at the parallel market on Thursday resulted in the rise of the greenback currency to N380 from N370 on Wednesday in Abuja. The News Agency of Nigeria reports that the Naira also depreciated against the Euro, exchanging at N400, from N390 on Wednesday. The Naira, however, appreciated against the Pound […]

  • dollar to naira

The Central Bank of Nigeria on Thursday said it would start selling foreign exchange to the Bureau de Change (BDC) market twice weekly and also boost their liquidity by 20 per cent. This is coming barely 24 hours after Dollars started appreciating against the Naira at the parallel market, going from N370 to N380 due […]

Nigeria’s oversubscribed Eurobond on Wednesday showed that investors will flock to the country’s dollar assets. But when it comes to naira ones, they’re staying well away. Nigeria got around $3 billion of orders for its $500 million of notes, according to a person familiar with the matter, who asked not to be identified. High demand […]

LAGOS, March 30 (Reuters) – MTN has made a payment of 30 billion naira ($98 million) to the Nigerian government in part settlement of a 330 billion naira fine imposed on the telecoms group for not disconnecting unregistered SIM cards, an MTN source told Reuters on Thursday. Africa’s largest telecoms company has already paid 80 […]

Dollar to Naira Rate Black Market March 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 […]