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Farooq

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Eniola Akinkuotu, Abuja The Federal Government says the planned concession of major airports across the country will go ahead as planned. This is just as it announced that N45bn would be paid to ex-workers of the defunct Nigerian Airways as severance package. The Minister of State for Aviation, Hadi Sirika, stated this while fielding questions […]

Oil prices rose on Wednesday in spite of a rise in US crude inventories with the market heading for its largest 3rd quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts. Brent crude futures rose to 56.20 dollars a barrel by 12:19 […]

First Nigerian businesses were hit by a dollar shortage. Now there aren’t enough naira. A central bank requirement that companies back forward dollar purchases with naira is drying up supplies, helping to underpin a 2.1 percent gain since the local currency fell to a record low against the greenback on Aug. 9. At the same […]

Dollar to Naira Rate Black Market September 21 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 […]

By Chijioke Ohuocha LAGOS, Sept 20 (Reuters) – Offshore funds in Nigeria offered on Wednesday to sell the dollar at close to its black market rate, traders said, worsening a liquidity lull on the foreign exchange market. The funds, which shifted dollars into the market last week to buy naira treasury bills, offered to sell […]

LAGOS, Sept 20 (Reuters) – Nigeria’s central bank on Wednesday raised more money from an auction of treasury bills than originally planned after it received subscriptions for almost four times the amount of debt initially on offer, traders said. The bank raised 215.88 billion naira ($686 million) at the auction, 75 billion naira more than […]

  • IMF

Obinna Chima The International Monetary Fund (IMF) has estimated that the annual cost of bribery — just one sub-set of corruption — to be between $1.5 and $2trillion. This, the Fund estimated to be about two per cent of global Gross Domestic Product (GDP). It argued that the costs represent the tip of the iceberg, […]

The Central Bank of Nigeria (CBN) has given a four-week ultimatum to deposit money banks which have not complied with its directive to open teller points for retail forex transactions. In a statement sent to TheCable on Monday, the apex bank said banks that fail to comply within four weeks would be punished. According to […]

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By Peter Egwatu The naira, yesterday, depreciated to N360. 22  per dollar in the Investors and Exports (I&E) Foreign Exchange, forex Window. Data from the Financial Market Dealers Quote, FMDQ showed that the indicative exchange rate for the I & E Window, known as Nigerian Autonomous Foreign Exchange, NAFEX declined to N360.22 per dollar, yesterday, […]

Dollar to Naira Rate Black Market September 20 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 […]