FX
-
The Central Bank of Nigeria (CBN) hit the nail on the head yesterday when it accused commercial banks of hoarding over $5 billion in foreign currencies against the threshold approved by the apex bank. CBN blamed the prevailing forex scarcity and naira’s free-fall against the dollar on the actions of the Deposit Money Banks (DMBs).…
-
Analysts have said there is hope for households and businesses as the lingering pressure on the naira is projected to ease in the second quarter of 2024. Their projections are premised on the expected inflows from external borrowing, donor support and oil sales. “We expect donor support and external borrowing to boost FX reserves,” Razia…
-
Crypto Trading Tips for Beginners When venturing into the world of cryptocurrency trading, it’s crucial to have a solid understanding of the market and the strategies that can help you succeed. Here are some valuable tips for beginners: 1. Educate Yourself Before diving into crypto trading, take the time to educate yourself about the basics…
-
Nigeria’s currency, the Naira, on Wednesday slumped to N1080 per Dollar at the foreign exchange parallel Market. Dayyabu Ashiru, a Bureau De Change operative in Wuse Zone 4, disclosed this to reporters. According to him, the naira depreciated between N1,060 and N1,100 to the Dollar in the BDC market. “We are selling between N1060-N1080 to…
-
The Central Bank of Nigeria, CBN, on Thursday restored the 43 items previously prohibited from access to foreign exchange (FX). Isa AbdulMumin, Director of Corporate Communications at CBN, disclosed in a statement on Thursday. The apex bank reiterated its commitment to ending the foreign exchange crisis. It added that it is working towards an FX…
You must be logged in to post a comment.