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Dollar to Naira Rate Black Market March 6 2017

Dollar to Naira Rate Black Market March 6 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 threatens to bar forex dealers – Today

The Central Bank of Nigeria (CBN) has threatened to bar authorized dealers in foreign exchange (forex) that fail to comply with its new directive on foreign exchange transactions. According to a circular released over the weekend and signed by Dr. Alvan E Ikoku, Director, Financial Markets Department to all authorized dealers, the apex bank ordered […]

Meet forex demand for school fees within 48hrs – CBN tells banks – Today

The Central Bank of Nigeria has directed Deposit Money Banks to process and meet demands for school fees including allowances and medical bills with 48 notes of such applications. The apex bank gave the directive in a circular dated March 3 with reference number FMD/DIR/CIR/GEN/08/005. The circular which was signed by the Director Financial Markets […]

Naira may reverse losses this week on dollar injection – Punch

Oyetunji Abioye The naira is expected to reverse the losses recorded last week during the week as the Central bank of Nigeria pumps more dollars into the foreign exchange market. According to economic and currency analysts, the local currency may become steady in the coming days after the currency has responded to the CBN’s measure […]

Nigeria trade balance turns positive in Q4 as exports jump – Reuters

LAGOS, March 4 (Reuters) – Nigeria’s trade balance turned positive in the fourth quarter of 2016 after exports rose by more than half, the national bureau of statistics said on Saturday, the first positive reading since the same quarter a year ago. But Africa’s largest economy shrank 1.5 percent over the course of the full […]

As CBN Battles Currency Speculators… – Thisday

Central Bank of Nigeria’s latest efforts to clamp down on currency speculators and traffickers with a view to strengthening the foreign exchange rate is a step in the right direction, writes Obinna Chima The Central Bank of Nigeria (CBN) recently applied policy actions on the foreign exchange market that have unnerved speculators and improved the […]

Forex: CBN to inject fresh $350m into interbank market – Punch

Gbenro Adeoye The Central Bank of Nigeria is set to pump more United States dollars into the foreign exchange market this weekend, in continuation of its strategy to further strengthen the value of the naira, Saturday PUNCH has learnt. A source at the apex bank told our correspondent on condition of anonymity that the CBN […]

Naira falls again, sells at N465 per dollar – NAN

The Naira on Friday depreciated against the dollar at the parallel market after posting days of appreciation. The nation’s currency lost N7 to exchange at N465 to a dollar after closing at N458 on Thursday, while the Pound Sterling and the Euro traded at N542 and N480. At the Bureau De Change window, the Naira […]

Nigerian overnight lending rate rises on cash squeeze – Reuters

LAGOS, March 3 (Reuters) – Nigeria’s overnight interbank lending rate climbed to 16 percent on Friday from about 13 percent at the end of last week, as the central bank debited commercial banks’ accounts for dollar purchases and also issued treasury bills to mop up liquidity. The central bank sold dollars twice this week to […]

Job losses loom at Arik Air – Punch

Maureen Ihua-Maduenyi Following the takeover of Arik Air by the Asset Management Corporation of Nigeria and a reduction in its flight operations due to fleet reduction, some workers of the carrier may soon lose their jobs, sources have said. A source within the airline, said there were rumours that the company’s over 2,000 workforce may […]