FX Crisis: Office of NSA, CBN, EFCC, others to go after speculators
The National Security Adviser’s Office, led by Nuhu Ribadu, in collaboration with the Central Bank of Nigeria (CBN), has initiated a joint effort to combat forex speculation and tackle the issues...
View ArticleFG to raise $10 billion to boost FX liquidity -Tinubu
President Bola Tinubu has stated that the federal government is looking to raise about $10 billion in revenue to boost liquidity in the foreign exchange market. The post FG to raise $10 billion to...
View ArticlePZ Cussons warns Shareholders: Liquidation or Asset sale possible without...
PZ Cussons Nigeria Plc has issued a subtle warning to its shareholders regarding the potential dire consequences if the company's plans to delist from the Nigerian Exchange Group (NGX) are not...
View ArticleOfficial exchange rate settles at N1551.24/$1 as P2P market crosses N1800/$1
The foreign exchange turnover saw a significant rise of 76.61% to $117.32 million, coinciding with naira's strengthening against the dollar. The post Official exchange rate settles at N1551.24/$1 as...
View ArticleNaira value: Binance explains actions on trading by Nigerians
Crypto trading platform, Binance, it has taken some actions to adjust trading on its platform by Nigerians to address what it described as an unusual currency movement. The post Naira value: Binance...
View ArticleNaira hits record low of N1,830 /$1 at the black market
The Naira on Wednesday experienced a significant depreciation, reaching a record low of N1,830 per dollar in the parallel market, commonly referred to as the black market. The post Naira hits record...
View ArticleDSS to Labour: Shelve planned nationwide protest, pursue dialogue
The Department of State Services (DSS) has appealed to the Organised Labour to opt for discussion and negotiation rather than the nationwide protests planned for February 27 and 28, 2024, in response...
View ArticleCurrency volatility: Intra-day high records N1755/$1 on sustained demand...
The Naira experienced a notable depreciation against the US dollar on February 21, 2024, peaking at an intra-day high of N1,755. The post Currency volatility: Intra-day high records N1755/$1 on...
View ArticleForex crisis: President Tinubu’s adviser wants crypto trading platforms...
The Special Special Adviser to President Bola Tinubu on Information and Strategy, Mr. Bayo Onanuga has called for the ban of Binance, Kucoin, and other trading platforms in Nigeria. The post Forex...
View ArticleNaira depreciation: Analysts offer strategies for volatility mitigation
Financial analysts are advocating for a policy re-evaluation to safeguard the Nigerian Naira amid escalating forex rates, despite efforts by the Central Bank of Nigeria (CBN) to stabilize its value....
View ArticleWild 24 hours: Naira Plunges to N1,900, rebounds to N1,354, then dips to...
It has been a tumultuous twenty-four hours after the exchange rate between the naira and USDT, plummeted to approximately N1900/USDT before subsequently rising to N1354.3. The post Wild 24 hours: Naira...
View ArticleExchange rate for cargo clearance jumps to N1605.8/$1
The Central Bank of Nigeria (CBN) has raised the exchange rate for customs clearance at ports from N1537.07 to N1605.82 per USD. The post Exchange rate for cargo clearance jumps to N1605.8/$1 appeared...
View ArticleNestlé’s full-year sales fall below projections as higher prices hit demand
Nestlé has announced lower-than-anticipated full-year sales, attributing the downturn to ongoing pressures on household finances. The post Nestlé’s full-year sales fall below projections as higher...
View ArticleMoney laundered through cryptocurrency reached $22.2 billion in 2023 – Report
A report by blockchain research platform, Chainalysis, has revealed that a total of $22.2 billion was laundered globally through different cryptocurrency exchanges in 2023. The post Money laundered...
View ArticleNaira hits record low of N1960 /EUR1 at the black market
The parallel market exchange rate has experienced a significant decline, plummeting to a record low of N1960 per Euro. The post Naira hits record low of N1960 /EUR1 at the black market appeared first...
View ArticleKesington Adebutu’s Abrico Plc, to delist from NGX after shareholder funds...
Arbico Plc has announced a decision to delist from the NGX after posting losses that have wiped out its shareholder funds. The post Kesington Adebutu’s Abrico Plc, to delist from NGX after shareholder...
View ArticleDemand pressures: Official exchange rate settles at N1571.31/$1 as intra-day...
The official exchange rate experienced a decline of 2.97%, settling at N1571.31/US dollar & intraday trading reached N1851 against the dollar The post Demand pressures: Official exchange rate...
View ArticleCBN sells another N1.58 trillion in Treasury Bills, interest rate at 19% for...
The Central Bank of Nigeria (CBN) has sold an impressive N1.58 trillion in its latest Treasury Bills auction as the apex bank continues its ongoing effort to manage liquidity in the financial system....
View ArticleFMDQ Traders introduce cap bid/offer spread to N50 in new forex trading changes
The FMDQ where forex is traded officially has implemented a +/-5% band around the previous day NAFEX while also caping bid/offer spread to N50. The post FMDQ Traders introduce cap bid/offer spread to...
View ArticleNaira strengthens by 7.43% to N1750 against dollar at the black market
The Naira witnessed a notable surge on Thursday, reaching a high of N1750 per dollar in the parallel market, commonly known as the black market. The post Naira strengthens by 7.43% to N1750 against...
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