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Naira closes at N756/$ as official, parallel market rates converge week after FX policy

    Naira closes at N756/$ as official, parallel market rates converge week after FX policy

The Nigerian naira strengthened on Tuesday to close at N756 to the dollar at the investors and exporters (I&E) window.  According to FMDQ Securities Exchange Limited, the closing rate represents

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EXPLAINER: All you need to know about domiciliary accounts

    EXPLAINER: All you need to know about domiciliary accounts

On June 18, 2023, the Central  Bank of Nigeria (CBN) instructed commercial banks in the country to cancel the restriction on cash deposits into domiciliary accounts, allowing customers to “have

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Why do we still have multiple naira-dollar exchange rates?

    Why do we still have multiple naira-dollar exchange rates?

As of Monday night, the Central Bank of Nigeria (CBN) was quoting 589.45 naira per dollar on its website. At about the same time, the Investors and Exporters (I&E) window,

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CBN’s domiciliary account policy, food prices… 7 business stories to track this week

    CBN’s domiciliary account policy, food prices… 7 business stories to track this week

Here are the seven top business stories you need to track this week — June 19 to June 23. NBS REPORT The National Bureau of Statistics (NBS) is expected to

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CBN lifts restriction on $10k deposit for domiciliary account holders

  CBN lifts restriction on $10k deposit for domiciliary account holders

The Central Bank of Nigeria (CBN) says cash deposits into domiciliary accounts will not be restricted, and customers “shall have

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Emefiele had access to family, doctors before court order, says DSS

  Emefiele had access to family, doctors before court order, says DSS

The Department of State Services (DSS) says Godwin Emefiele, suspended governor of the Central Bank of Nigeria (CBN) had access

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Polaris Bank updates forex forms guidelines for students, importers

  Polaris Bank updates forex forms guidelines for students, importers

Polaris Bank has informed customers of updates on the guidelines for Forms A and Q requests. In an email to

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Naira appreciates, closes at 663/$ at I&E window

  Naira appreciates, closes at 663/$ at I&E window

The Nigerian naira has closed at N663 to the dollar at the Investors and Exporters (I&E) window after what has

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Importation: CBN reiterates stance on FX access, says ‘status quo remains on 43 non-eligible items’

  Importation: CBN reiterates stance on FX access, says ‘status quo remains on 43 non-eligible items’

The Central Bank of Nigeria (CBN) has reiterated its stance on access to foreign exchange (FX) on the official window

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‘Raise capital requirements of BDCs’ — Tinubu advisory council recommends guidelines for operators

  ‘Raise capital requirements of BDCs’ — Tinubu advisory council recommends guidelines for operators

The policy advisory council of President Bola Tinubu has asked the federal government to increase the capital requirements of Bureaux

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