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![Today's Naira Rate [23-04-2024]: Naira Appreciates to N1,250/$ Following CBN's Strategic Dollar Injection](/data/attachments/203/203190-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate [23-04-2024]: Naira Appreciates to N1,250/$ Following CBN's Strategic Dollar Injection
The Naira experienced a notable uptick on Tuesday morning, fueled by the Central Bank of Nigeria's (CBN) strategic move to sell dollars to Bureau de Change (BDC) operators at a discounted rate. This intervention aimed to alleviate the mounting pressure observed in the black market. According to...- Nigeria News
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![Today's Naira Rate [21-04-2024]: Fluctuating Naira Sparks Worries Among Nigerians as Exchange Rate Hits ₦1,200/$](/data/attachments/203/203123-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [21-04-2024]: Fluctuating Naira Sparks Worries Among Nigerians as Exchange Rate Hits ₦1,200/$
The Nigerian currency, the Naira, appears to be facing another depreciation period, as observed by some social media users. Concerns about the stability of the currency are expressed, with one user noting a decrease and another lamenting the continual rise. One user highlights a sense of...- Nigeria News
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- cbn exchange rate forex market naira depreciation todays exchange rate
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Nigeria CBN Governor Yemi Cardoso Touts Naira as Best-Performing Currency Globally
Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), highlighted the success of the apex bank's foreign exchange (FX) reforms, asserting that they have propelled the naira to become the best-performing currency worldwide. Speaking during a briefing at the World Bank/IMF Spring...- Nigeria News
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- cbn foreign exchange fx market world bank/imf meetings yemi cardoso
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![Today's Naira Rate [15-04-2024]: Nigerians Await Economic Relief as Naira Nears 1,000/$](/data/attachments/202/202858-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate [15-04-2024]: Nigerians Await Economic Relief as Naira Nears 1,000/$
Nigeria's currency, the Naira, is poised on the brink of a significant milestone, edging closer to the 1,000 Naira to 1 US dollar mark on the black market, as it surged to N1,115 on Monday, with some traders quoting rates as high as N1,118 and N1,120. This surge follows a four-month high of...- Nigeria News
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- black market exchange rate cbn central bank of nigeria dollar-naira exchange rate economic stability foreign exchange reforms monetary policy rate (mpr) naira appreciation
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Nigeria Nigerian Naira Shows Resilience, Rises to N1,120 Against Dollar in Par
The Nigerian Naira exhibited a remarkable appreciation against the United States Dollar on Monday, with significant gains observed in both the parallel market and the official foreign exchange (FX) window. This currency shift has drawn attention from investors, economists, and policymakers...- Nigeria News
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- cbn dollar exchange rate foreign exchange market forex market naira appreciation parallel market yemi cardoso
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Nigeria CBN Implements Ban on Foreign Currency Collaterals for Naira Loans: Economic Policy Shift Sparks Industry Response
The Central Bank of Nigeria (CBN) has enacted a ban on the utilization of foreign currency as collateral for naira-denominated loans. This directive, articulated in a circular dated April 8, 2024, and disseminated to all banks, aims to address prevailing economic challenges and reshape the...- Nigeria News
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- cbn central bank of nigeria yemi cardoso
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Nigeria CBN Initiates Forex Sales to BDCs at N1,101/$1, Aims to Stabilize Currency Market
The Central Bank of Nigeria (CBN) has taken a significant step towards stabilizing the foreign exchange (FX) market by announcing the sale of dollars to bureau de change (BDC) operators at the rate of N1,101 for every $1. This move, revealed in a recent circular titled ‘Sales of FX to Meet...- Nigeria News
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- bureau de change (bdc) cbn central bank of nigeria foreign exchange (fx) forex market stabilization nigerian economy
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Nigeria Central Bank Measures Could Hinder Economic Growth, Says KPMG Nigeria
KPMG Nigeria has cautioned that the Central Bank of Nigeria's (CBN) recent monetary tightening measures could hinder banks from extending credit, potentially impacting economic growth. The firm highlighted the potential consequences of the elevated interest rates, including increased...- Nigeria News
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- cbn central bank of nigeria kpmg nigeria monetary tightening
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Nigeria Dangote Refinery Set to Drive Diesel Prices Below N1,000, Economist Predicts
Bismarck Rewane, Managing Director of Financial Derivatives Company Limited, predicts a significant drop in diesel prices below N1,000 per litre with the commencement of diesel production at the Dangote Refinery. During an interview on Channels Television’s News At 10, Rewane highlighted the...- Nigeria News
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- bismarck rewane cbn dangote refinery fuel prices nigeria inflation
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Nigeria Nigeria's Naira Jumps to N1,280/$ at Parallel Market: Traders React
The Nigerian Naira witnessed a remarkable appreciation, reaching N1,280 per dollar at the parallel segment of the foreign exchange market. This surge, marking a 5.19 percent increase from the previous rate of N1,350/$ on March 27, has left currency traders in Lagos, commonly known as bureau de...- Nigeria News
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- cbn central bank of nigeria currency traders foreign exchange market naira appreciation parallel market
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Nigeria Bank Mergers Loom as CBN Raises Minimum Capital Thresholds: What Businesses and Banks Need to Know
The Central Bank of Nigeria (CBN) has announced sweeping financial reforms, significantly raising minimum capital requirements for banks across various categories. In a circular issued by the Financial Policy and Regulation Department Director, Haruna Mustafa, all commercial, merchant, and...- Nigeria News
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- banking reforms cbn cbn recapitalisation central bank of nigeria commercial banks minimum capital requirements
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Nigeria Major Banking Overhaul: CBN Sets ₦500 Billion Minimum Capital Base for Banks
Central Bank of Nigeria (CBN) has announced sweeping changes to minimum capital requirements for banks. The circular, signed by Haruna Mustafa, Director of the Financial Policy and Regulation Department, mandates commercial banks with international authorization to maintain a staggering...- Nigeria News
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- cbn minimum capital requirements yemi cardoso
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Nigeria CBN Sets New Standards: Nigerian Banks Tasked to Increase Capital Base for Stability
In a move aimed at strengthening the resilience of Nigeria's banking sector, the Central Bank of Nigeria (CBN) has announced significant increases in the capital base requirements for various categories of banks across the country. According to a statement released by the CBN's Acting Director...- Nigeria News
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- banking sector cbn central bank of nigeria
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Nigeria CBN Exposes Financial Strain: 31 States Default on N339.9bn Loans
The Central Bank of Nigeria (CBN) has revealed that as of September 2023, thirty-one state governments collectively owe a staggering sum of N339.9 billion. This debt stems from funds acquired to cover workers' salaries between 2015 and 2023, facilitated through the Salary Bailout Facility...- Nigeria News
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- cbn salary bailout funds state governments yemi cardoso
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Nigeria Tensions Rise as Foreign Airlines Challenge CBN's Assertion on Cleared Forex Obligations
Amidst assertions by the Central Bank of Nigeria (CBN) of successfully settling all outstanding foreign exchange (FX) obligations, foreign airlines have challenged the claim, asserting that the situation remains unchanged. Kingsley Nwokeoma, President of the Association of Foreign Airlines and...- Nigeria News
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- aviation sector cbn central bank of nigeria currency market foreign airlines forex backlog yemi cardoso
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Nigeria Tension Mounts at CBN: Directors Linked to Emefiele's Era Set for Early Retirement
Amidst speculation and internal turmoil at the Central Bank of Nigeria (CBN), reports indicate that at least eight directors are facing early retirement. These directors, previously redeployed to FSS 2020, are now being asked to exit the CBN, sparking concerns and confusion among staff. While...- Nigeria News
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- cbn cbn governor central bank of nigeria directors godwin emefiele yemi cardoso
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Nigeria Buhari's Signature: Forensic Analyst Testifies, Claims Documents Used to Pay Election Observers $6.2M Were Forged
The trial of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, continued at the Federal Capital Territory High Court in Abuja on March 7, revealing a gripping revelation as forensic analyst Bamaiyi Meriga, called by the Economic and Financial Crimes Commission (EFCC)...- Nigeria News
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- $6.2 million payment cbn emefiele trial forensic analysis godwin emefiele
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Nigeria NIN-BVN Linkage Nightmare: March 1 Deadline Sparks Panic Among 85.51 Million Bank Customers
With the deadline for linking National Identity Numbers (NIN) and Bank Verification Numbers (BVN) fast approaching on March 1, 2024, concerns mount for millions of Nigerians. Approximately 85.51 million bank customers could face restricted access to their accounts due to challenges in...- Nigeria News
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- access bank bvn and nin linkage cbn financial crisis march 1 deadline nigeria banking nin-bvn linkage
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Nigeria Nigeria Expands Cryptocurrency Investigation: Executives from Multiple Platforms Summoned Following Binance Interrogation
The Office of the National Security Adviser is set to extend its investigation into cryptocurrency operations by summoning executives from various platforms in Nigeria. This development follows the recent detention of two senior Binance executives, revealed by the Financial Times. Sources...- Nigeria News
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- binance binance executives arrested cbn cryptocurrency ban in nigeria
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Nigeria Binance Ban: Government Spokesman Onanuga Warns Nigerians Platform Could Destroy THE ECONOMY
Amidst growing concerns over the impact of cryptocurrency trading on Nigeria's economy, Presidential spokesman Bayo Onanuga has issued a stern warning against the popular exchange platform Binance, alleging its potential to dismantle the country's financial stability. Speaking on a televised...- Nigeria News
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