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  1. RemmyAlex

    Business BDC Operators Lament As Nara/Dollar Rates Converge At FX Markets

    Nigeria's Bureaux de change (BDCs) operators have lamented that convergence of parallel and black market rates thereby calling on the Central Bank of Nigeria, (CBN) to review the rate band for BDCs. Aminu Gwadabe, president, Association of Bureaux De Change Operators of Nigeria (ABCON) said the...
  2. RemmyAlex

    Business Naira Loses At Parallel Market, Trades 390 Per Dollar

    Nigerian naira on Monday depreciated against the United Stated dollar to 390 per dollar, despite Central bank of Nigeria CBN, intervention to close forex margin between official and parallel market. The currency also depreciated against the Pound sterling and Euro at the street market to 495...
  3. RemmyAlex

    Business Naira To Gain More Strength As CBN Sell $20,000 To Each BDC Operators

    Nigerian naira is set gain more momentum as the Central Bank of Nigeria (CBN) will today, sell $20,000 to Bureax de Change (BDCs) for onward sale to small-end users. Following its injection of $280 million into the Foreign Exchange Market on Tuesday, April 18, 2017, the Central Bank of Nigeria...
  4. RemmyAlex

    Business Naira Booms, Gains 1.75% To Close At 400 Per Dollar

    Nigerian naira on Wednesday extended gain at the parallel market, appreciating by 1.75 per cent to close at 400 against the United States Dollar. The currency remained stable against the pound sterling and gained 10 naira to close at 420 against the Euro. At the official market segment, the...
  5. RemmyAlex

    Business 5 Reasons Why Naira is Depreciating Against Dollar

    The CBN in recent months had injected dollars to the inter-bank and Bureau de Change foreign exchange market in its bid to sustain forex supply to different categories of users. The Apex Bank auctioned $418 million at a marginal rate of N310 to a dollar, to airlines, agriculture, petroleum and...
  6. RemmyAlex

    Business Naira Depreciated By 3.7% In 1-Week

    Nigerian Naira depreciated by 3.7 per cent to the dollar in a week's trading as Central Bank Of Nigeria, CBN pumped and adjusted foreign exchange policy for the Bureau De Change operators in the country. The naira closed 390 to the dollar last week by recording a moderate rate against the...
  7. RemmyAlex

    Business Naira Crashes Again, Loses 2% To 405 Per Dollar

    Nigerian naira has crashed at the parallel market for the second consecutive day, Nigerian Bulletin can report. The currency lost 2 per cent to close at 405 to a dollar at the parallel market despite efforts by the Central Bank of Nigeria to boost the currency. It closed stable against the...
  8. RemmyAlex

    Business Naira Gains Against US Dollar At Parallel Market

    Nigerian naira on Thursday gained 0.25 per cent to 397 against the United States dollar at the parallel market as Central Bank of Nigeria continues to fight market speculators and currency hoarders. The currency closed flat at 485 against the Pound sterling but depreciated by 20 naira to 420...
  9. RemmyAlex

    Business Naira Crashes, Loses 2% To 398 Per Dollar

    Nigerian naira on Wednesday crashed at the parallel market to 398 per dollar despite Central Bank of Nigeria intervention at the forex market. The currency lost 2 per cent against the greenback. The currency also depreciated to 485 against the Pound sterling but maintained rate at 415 to the...
  10. RemmyAlex

    Business Naira Falls To 395 Per Dollar Despite CBN Forex Intervention

    Nigerian naira on Monday dropped 1.1 per cent to close at 395 to a dollar at thge parallel market despite Central Bank of Nigeria, CBN, forex intervention. The currency also depreciated to 480 against the Pound sterling but appreciated 415 against the Euro at the parallel market. At the...
  11. RemmyAlex

    Business CBN Pumps $240m In Forex Market To Crash Dollar

    The Central Bank of Nigeria, CBN, on Monday injected $90 million to meet requests by bank customers, in its bid to sustain the supply of foreign exchange and ensure liquidity in the market. The spokesperson of the bank, Isaac Okorafor, who confirmed the figure, said the fresh release is to meet...
  12. RemmyAlex

    Business ‎Naira Rate: CBN Moves To Further Weaken Dollar

    The Central Bank of Nigeria on Sunday reiterated its determination to sustain the provision of foreign exchange with a view to ensuring liquidity in the market and enhance accessibility and affordability for genuine end users. The apex bank’s acting Director, Corporate Communications, Mr. Isaac...
  13. RemmyAlex

    Business How Nigerian Naira Performed This Week

    Nigerian naira closed flat on weekly trading as Central Bank of Nigeria, CBN on Monday adjusted by reviewing the naira-dollar rate for travelers, students and Medical fees from 376 to 360 and ordered to start honoring the new rate with immediate effect. The currency opened trading on Monday...
  14. RemmyAlex

    Business Naira Loses 1.8% To 390 Per Dollar At Parallel Market

    Nigerian naira on Friday closed bearish for the third time in a row since the Central Bank of Nigeria, CBN, pegged forex rate for the Bureau De Change operators nationwide. The currency dropped by 1.79 per cent to close at 390 against the United States dollar. It also depreciated against the...
  15. RemmyAlex

    Business Naira Falls Further, Sells At 383/US$1 At Parallel Market

    Nigerian naira on Thursday fell further at parallel market for the second consecutive day in a week after gaining over 10 per cent last week. The currency dropped by 3 naira to 383 to the dollar, 10 naira to 410 to Euro at the black market segment. However, it appreciated 1.2 per cent to close...
  16. RemmyAlex

    Business Naira Falls By 1.3% To 380 Per Dollar At Black Market

    Nigerian naira on Wednesday fell by 1.3 per cent to close at 380 to the United States dollar at the black market. The currency also fell against the Pound sterling to 470 from 465 its traded on Tuesday, not minding the signing of the Article 50 which signifies the official withdrawal of Britain...
  17. RemmyAlex

    Business CBN Slashes BDC Naira-Dollar Rates By 10% Nationwide

    The Central Bank of Nigeria (CBN) has slashed the rate at which it was selling dollars to Bureau De Change (BDC) operators nationwide. Aminu Gwadabe, president, Association of Bureau De Change Operators of Nigeria (ABCON), told the News Agency of Nigeria (NAN) in Lagos on Tuesday that the...
  18. RemmyAlex

    Business CBN Pumps $185m Into FX Market For Naira To Gain More Strength

    The Central Bank of Nigeria (CBN) has pumped a total of $185 million into the foreign exchange market in order to continue to save the naira against the greenback. The Apex bank on Tuesday pumped the sum of $85 million into the Deposit Money Banks (DMBs) at the rate of N357/$1 for onward sale...
  19. RemmyAlex

    Business Naira Gains 1.3% To 385/US1$ At Black Market

    Nigerian naira on Monday resumed trading on a bullish side as the currency closed at 385 to a Dollar at the parallel market. The currency gained 20 naira from 490 to 470 against the pound sterling but lost 5 naira to the Euro to close at 435 at the back market segment. At the official rate...
  20. RemmyAlex

    Business Naira Recorded Massive 15% Gain Against Dollar This Week

    Nigerian naira gained a massive 15 per cent at the street market this week as the Central bank of Nigeria intervened at the foreign exchange market to close the widen margin of currency rates in the country, Nigerian Bulletin can report. The currency opened trading at the black market on Monday...
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