The Naira yesterday appreciated to N1, 590 per dollar in the parallel market from N1,600 per dollar last weekend. The Naira depreciated to N1,549 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria (CBN), showed that the indicative exchange rate for the naira rose to N1,549 per dollar from N1,548 per dollar …

Nigerian naira has slumped massively against the dollar across parallel and official foreign exchange markets. At the black market, the Naira depreciated to N1,580 per dollar on Thursday from N1,525 traded on Wednesday. This means in a single day, the Naira lost N55 against the dollar compared to the N1,525 per dollar exchange rate on Wednesday. A Bureau de Change …

The Central Bank of Nigeria, CBN, yesterday, expressed its commitment to the Nigerian Foreign Exchange (FX) Code saying that it has aligned its roles with the principles of the code. In a statement signed by the Governor, Olayemi Cardoso, Deputy Governor, Economic Policy, Mohammad Abdullahi and Director, Financial Markets Department, Dr.Omolara Duke, the apex bank said its decision follows a …

The Naira yesterday appreciated to N1,512 per dollar in the parallel market from N1,515 per dollar on Tuesday. However, the Naira depreciated to N1,505 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,505 per dollar from N1,502 per dollar …

The Central Bank of Nigeria (CBN) has appointed 16 new directors across key departments in a significant leadership shakeups. These appointments affect crucial areas such as Monetary Policy department, Trade and Exchange Department, Banking Supervision, Payment Systems and Consumer Protection among others. This new appointments are coming at a time when regulators are tightening oversight on banks and financial technology …

Naira closed February 2025 with an 8.5 per cent gain month-on-month on the parallel market to settle at 1,490/$, while it closed at 1,500/$ on the official market, indicating a 1.7 per cent m/m decline. According to the Afrinvest Monthly Market Report, the foreign reserve dipped by 3.2 per cent month-on-month. As of Thursday, it stood at $38.46bn. “This decline …

The Central Bank of Nigeria has reinforced its regulatory oversight to bolster the resilience and transparency of the country’s financial system, reaffirming its commitment to strict compliance and risk management across financial institutions. According to a statement from the apex bank on Sunday, the CBN reaffirmed its commitment at a Mandatory Compliance and Anti-Money Laundering Training Workshop held in Lagos …

Fraudsters have stolen N329m by using static images to register for Bank Verification Numbers. This is according to a new report by the Nigeria Inter-Bank Settlement System, which outlines emerging fraud trends in Nigeria’s financial sector. According to the report obtained by Sunday PUNCH, some unscrupulous BVN enrollment agents facilitated the scheme by registering still images of individuals, both Nigerians …

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has inaugurated 50 new commissioners to reaffirm the Federal Government’s commitment to enhancing Nigeria’s tax dispute resolution. Presiding over the swearing-in, Edun emphasised that the appointments reflect the Federal Government’s commitment to enhancing Nigeria’s tax dispute resolution system and ensuring fiscal justice. In a statement made available …

The Naira yesterday depreciated to N1,495 per dollar in the parallel market from N1,490 per dollar on Wednesday. Similarly, the Naira depreciated to N1,496 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria (CBN), showed that the indicative exchange rate for the naira rose to N1,496 per dollar from N1,495 per dollar …