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Tag "Foreign Exchange Market"

Volatility in FX market caused by seasonal demand, says CBN

    Volatility in FX market caused by seasonal demand, says CBN

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) says the volatility in the foreign exchange (FX) market is caused by seasonal demand for forex. Olayemi Cardoso,

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Customs FX rate for import duties increases to N1,441/$

    Customs FX rate for import duties increases to N1,441/$

The Nigeria Customs Service (NCS) has adjusted the foreign exchange (FX) rate for import duties to N1,441.58 per dollar. This represents a 4.94 percent increase compared to the N1,373.64/$ adopted

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EFCC arrests 34 suspected currency speculators for ‘FX fraud’

    EFCC arrests 34 suspected currency speculators for ‘FX fraud’

The Economic and Financial Crimes Commission (EFCC) says 34 suspected currency speculators have been arrested for foreign exchange (FX) fraud. The EFCC, in a statement on Friday, said the arrest

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Naira appreciates further, trades N1,025/$ at parallel market

    Naira appreciates further, trades N1,025/$ at parallel market

The naira, on Monday, appreciated further at the parallel section of the foreign exchange market to N1,025 a dollar. This represents an appreciation of N15 or 1.44 percent compared to

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Naira appreciates to N1,150/$ at parallel market as ‘FX scarcity wanes’

  Naira appreciates to N1,150/$ at parallel market as ‘FX scarcity wanes’

The naira, on Monday, appreciated further at the parallel section of the market to N1,150 a dollar.  This represents an

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Tinubu’s aide seeks reform of BDCs, banks’ FX operations to improve supply

  Tinubu’s aide seeks reform of BDCs, banks’ FX operations to improve supply

Tope Fasua, the special adviser to President Bola Tinubu on economic affairs, has called for a structural reform of Nigeria’s

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CBN changes rules for Bureau De Change

  CBN changes rules for Bureau De Change

The Central Bank of Nigeria (CBN) has announced an increase in the minimum capital requirement for Bureau de Change (BDC)

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