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The naira on Tuesday appreciated 1.25% to close at 328.25 to the dollar at the inter-bank market, forty -four days after the Central bank of Nigeria introduced the flexible exchange rate policy, according to data mined from the Bloomberg data.
Meanwhile, the Central Bank of Nigeria (CBN) has barred eight banks from all foreign exchange transactions for breach of extant financial regulations
It was gathered that they were barred for concealing and failing to remit the Nigerian National Petroleum Corporation (NNPC) dollar funds to the federal government’s Treasury Single Account domiciled in the CBN as directed by the Presidency last year.
Naira Watch: Tracking Nigeria's Currency [Day 43]
Monday Closed: 308.75
Today Open: N318
High Rate: N342.25
Low: N314.50
Related: CBN Bars 8 Banks From All Forex Transactions [See LIST]
Meanwhile, the Central Bank of Nigeria (CBN) has barred eight banks from all foreign exchange transactions for breach of extant financial regulations
It was gathered that they were barred for concealing and failing to remit the Nigerian National Petroleum Corporation (NNPC) dollar funds to the federal government’s Treasury Single Account domiciled in the CBN as directed by the Presidency last year.
Naira Watch: Tracking Nigeria's Currency [Day 43]
Monday Closed: 308.75
Today Open: N318
High Rate: N342.25
Low: N314.50
Related: CBN Bars 8 Banks From All Forex Transactions [See LIST]