The Naira yesterday depreciated to N1, 595 per dollar in the parallel market from N1,585 per dollar on Tuesday. However, the Naira appreciated to N1,608.73 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,608.73 per dollar from N1,621.12 per dollar on Tuesday, indicating N12.39 appreciation …

On Wednesday, during its emergency session, the House of Representatives approved a new ceiling of 10 per cent for Central Bank of Nigeria’s (CBN’s) Ways and Means advances to the Federal Government amidst disagreement. Section (38) of the CBN Act (2007) limits such advances under ways and means to five per cent of the previous year’s revenue. The House Committee …

The Naira yesterday depreciated to N1, 585 per dollar in the parallel market from N1,580 per dollar on Monday. Similarly, the Naira yesterday depreciated to N1,621.12 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,621.12 per dollar from N1,611.4 per dollar on Monday, indicating N9.72 …

The Naira yesterday appreciated to N1, 580 per dollar in the parallel market from N1,610 per dollar last week Friday. But, the Naira yesterday depreciated to N1,611.4 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,611.4 per dollar from N1,609.29 per dollar over the weekend, …

There is tremendous excitement in the air as the first female Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe clocked 60 years on Sunday July 28, given her outstanding performance in the nation’s financial services sector that had earned her respect amongst banks’ top CEOs. Besides leading the bank to close the 2023 financial year …

The Central Bank of Nigeria, CBN, said it would publish the names of owners of unclaimed balances in dormant accounts that is being transferred to the Unclaimed Balances Trust Fund (UBTF) Pool Account. CBN disclosed this among other things in a statement titled: “Frequently Asked questions on the Guidelines for the management of dormant accounts, unclaimed balances and other financial …

The Naira yesterday depreciated to N1,603.8 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,603.8 per dollar from N1,586.71 per dollar on Wednesday, indicating N37.95 depreciation for the naira. The volume of dollars traded (turnover) in the market fell by 23.3 percent to $131.09 million …

The Naira yesterday depreciated to N1,575 per dollar in the parallel market from N1,565 per dollar on Tuesday. However, the Naira depreciated to N1,586.71 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,586.71 per dollar from N1,548.76 per dollar on Tuesday, indicating N37.95 depreciation for …

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the benchmark lending rate to 26.75 per cent. The hike in the Monetary Policy Rate was disclosed by the CBN Governor, Dr. Olayemi Cardoso, at the end of the 296th MPC meeting in Abuja on Tuesday. The MPC had maintained a hawkish stance to tame inflation …

The Naira yesterday depreciated to N1,585 per dollar in the parallel market from N1,575 last week Friday. Similarly, the Naira appreciated to N1,500.32 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,500.32 per dollar from N1,596.92 per dollar last weekend, indicating N96.6 appreciation for the …