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Banks in Nigeria have begun implementing a daily withdrawal limit of N100,000 and a weekly limit of N500,000 on Point-of-Sale (PoS) terminals, following a directive from...
CBN unveiled strategic plan aimed at combating the commoditization of the naira and restoring its credibility as a legal tender Commoditization is the process of treating...
NiDCOM boss says Nigerians living abroad spent approximately N60 billion during their visits to Nigeria in December 2024. NiDCOM Chairman attributed that the large influx as...
Hon. Abike Dabiri-Erewa, Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), has applauded Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), for introducing...
Nigeria’s forex inflows rose 41% YoY to $79.8B in 2024, with strong growth in autonomous and CBN sources. Net inflows via autonomous sources grew 73%, while...
Naira rose to N1,534.56 at the official market, gaining N6.8. Black market rate held steady at N1,660 per dollar. Economist says N1,500 exchange rate target depends...
Afrinvest projects Naira at N1,804 per dollar by 2025 due to FX volatility. CBN faces challenges in meeting foreign exchange demand. EFEMS introduces relative stability amid...
Nigeria and China have renewed their bilateral currency swap agreement, extending the deal for another three years, with provisions for further renewals upon mutual consent. EDITOR’S...
The naira appreciated by N135 against the dollar, closing at N1,640 in the parallel market on Monday. In the official market, the naira strengthened to N1,539.55...
The Senate has initiated a move to restore Nigeria’s monetary sovereignty by prohibiting the use of foreign currencies for payments and transactions within the country. EKO...