The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso has attributed the recent increase in the dollar exchange rate to the rise in Nigerian students who study abroad, as well foreign medical trips embarked on by Nigerians. Cardoso spoke at the sectoral debate put together by the House of Representatives on Tuesday in […]
Central Bank Governor, Finance Minister, others to appear before Nigerian lawmakers
Fresh move by CBN to float Naira sparks concerns in Nigeria’s forex market
The recent move by the Central Bank of Nigeria, CBN, to further float the Naira in the foreign exchange market has raised mixed concerns in the country’s economic sector. According to experts familiar with the sector, the move is similar to what the CBN did eight months ago on June 14 last year, called Naira […]
Naira gains against US Dollar at foreign market
The Naira recorded a significant gain against the US Dollar at the Foreign Market amid the Central Bank of Nigeria’s sweeping policy interventions. Data from FMDQ showed that the Naira appreciated N1419.86 per Dollar on Monday from N1,435.53 on Friday. This represents a 1.1 per cent or 15.67 gain compared to N1,435.53 recorded at the […]
CBN uncovers $2.4 billion false forex claim pressuring naira – Cardoso
Naira: Dollar supply surge by 180 per cent at forex market over CBN intervention
The supply of US dollars surged at the official foreign exchange market, rising to 180.59 per cent to $440.13 million last Friday as commercial banks rushed to avoid the Central Bank of Nigeria’s regulatory sanction. This comes as the Naira appreciated marginally to close Friday at N1,435.53 per Dollar after a turbulent week. Data from […]
2024 Hajj: NAHCON increases Hajj fare amidst naira crash
The commission initially announced N4.5 million as the fare for the 2024 Hajj but the fee has now been increased to N4.6 million for northern pilgrims and N4.8 million for pilgrims from the South. The post 2024 Hajj: NAHCON increases Hajj fare amidst naira crash appeared first on Premium Times Nigeria. Powered by WPeMatico
Naira free fall: Finance Minister, CBN governor, EFCC chairman meet, intensify action
The Finance Minister and Coordinating Minister for the Economy, Wale Edun has met with the Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso and the Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede. The meeting, according to a statement signed by the Federal Ministry of Finance, was to strategise on […]
Naira appreciates significantly amid CBN intervention
The Naira closed the week positively, appreciating marginally against the US Dollar at the Foreign Market amid the Central Bank of Nigeria’s sweeping policy interventions. Data from FMDQ showed that the Naira appreciated N1,435.53 per US Dollar on Friday from N1461.90 on Thursday. This represents a 1.8 per cent or 26.37 gain compared to N1461.90 […]
Police nab man found with counterfeit Naira notes in Lagos
The Lagos State Police Command has arrested a 47-year-old man, simply identified as Shola, for being in possession of N13,000 counterfeit notes. The State Police Public Relations Officer, SP Benjamin Hundeyin, confirmed the arrest to newsmen on Friday. He said that the suspect was arrested on January 17, 2024, at about 6.30 p.m., at Apapa […]