cbn reforms
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Nigeria Naira Soars to 8-Month High of 1,120/$ as Dollar Supply Surges
The Nigerian Naira has surged to an eight-month high of 1,120 per dollar on the black market, propelled by recent foreign exchange reforms implemented by the Central Bank of Nigeria (CBN). This marks a significant gain of 62.95 percent over the dollar compared to February 2024 levels. Traders... -
Nigeria Traders on Edge as Customs FX Rate Surges to N1,330/$, Exceeding Official Market
Recent developments in Nigeria's foreign exchange landscape reveal a noteworthy surge in the customs exchange rate for import duties, exceeding the official market rate. The rate for cargo clearance currently stands at N1,330.36 per USD, significantly higher than the official market's N1,278/$1... -
Nigeria Economic Concerns as Naira Depreciates to N1,565/$ in Parallel Market, Widening Gap with Official Rates
The Nigerian Naira experienced fluctuations against the US dollar, reaching an intra-day high of N1,582 while witnessing a notable decline in forex turnover, plummeting by 56.58% to $117.87 million. Both official and black-market exchange rates saw a marginal decrease in the value of the Naira... -
Nigeria CBN Governor Olayemi Cardoso Reveals How Tough Reforms are Shaping Nigeria's Financial Future
In an exclusive interview with ARISE NEWS, the Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, unveiled crucial policies and reforms aimed at strengthening the nation's economic landscape. Cardoso addressed the $7 billion outstanding foreign exchange liabilities of the...
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