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  1. CBN Shocks Markets: Raises MPR to Record 24.75%, Businesses and Consumers to Face Higher Loan Costs

    Nigeria CBN Shocks Markets: Raises MPR to Record 24.75%, Businesses and Consumers to Face Higher Loan Costs

    After its 294th meeting, the Central Bank of Nigeria (CBN) has made a bold move by increasing the Monetary Policy Rate (MPR) by 200 basis points to an unprecedented 24.75%. Led by CBN Governor Yemi Cardoso, this decision underscores the bank's unwavering commitment to combating inflationary...
    • Nigeria News
    • Article
    • 1 min read
    • cbns new mpr rate central bank of nigeria exchange rate inflation monetary policy rate mpc meeting new interest rate yemi cardoso
    • Category: Business
  2. Moghalu Criticizes Artificial Exchange Rates, Calls for Realistic Economic Policies

    Nigeria Moghalu Criticizes Artificial Exchange Rates, Calls for Realistic Economic Policies

    Former deputy governor of the Central Bank of Nigeria, Kingsley Moghalu, criticized the notion of aiming for a Naira to Dollar exchange rate of N400, stating that such expectations are unrealistic. Moghalu emphasized the importance of the exchange rate reflecting its true market value, rather...
    • Nigeria News
    • Article
    • 1 min read
    • central bank of nigeria exchange rate kingsley moghalu naira dollar nigeria
    • Category: Business
  3. K

    Business Naira rises to N1,450/$ in parallel market - Vanguard News

    https://www.vanguardngr.com/2024/03/naira-rises-to-n1450-in-parallel-market/
  4. Nigerians Credit Peter Obi for Customs Import Duty Policy Shift

    Nigeria Nigerians Credit Peter Obi for Customs Import Duty Policy Shift

    In a significant move effective from February 26, 2024, the Central Bank of Nigeria (CBN) has instructed the Nigerian Customs Service (NCS) to base import duty calculations on the foreign exchange (FX) closing rate on the day importers submit 'Form M' for clearing goods. This decision aims to...
    • Nigeria News
    • Article
    • 1 min read
    • central bank of nigeria customs duty exchange rate form m import duties nigerian customs service
    • Category: Politics
  5. K

    Business Dollar falls to N1,600 at parallel market - Linda Ikeji’s Blog

    https://www.lindaikejisblog.com/2024/2/dollar-falls-to-n1600-at-parallel-market-2.html
  6. Rate for Cargo Clearance in Nigeria Now N1515 to $1 - CBN

    Nigeria Rate for Cargo Clearance in Nigeria Now N1515 to $1 - CBN

    The Central Bank of Nigeria (CBN) has announced an adjustment in the exchange rate for the clearance of goods, increasing it from N1444.56/$ to N1515.09 against the USD. This marks a noteworthy rise of N70.53 compared to the previous rate, reflecting the CBN's continued efforts to align official...
    • Nigeria News
    • Article
    • 2 min read
    • cbn central bank of nigeria economic reforms exchange rate goods clearance importers naira depreciation rate for good clearance
    • Category: Business
  7. Naira Plummets to Record Low of N1,534/$1 Despite CBN Intervention Efforts

    Nigeria Naira Plummets to Record Low of N1,534/$1 Despite CBN Intervention Efforts

    In a dramatic turn of events, the official exchange rate between the naira and the dollar plummeted to an unprecedented low of N1,534 on the NAFEM market, marking the weakest point in the currency's history. The day's forex turnover, a mere $89 million, revealed a sharp 64.69% drop in comparison...
    • Nigeria News
    • Article
    • 1 min read
    • cbn economic turmoil exchange rate naira depreciation
    • Category: Business
  8. K

    Business Naira appreciates against US dollars at forex market Friday - Daily Post

    https://dailypost.ng/2024/02/10/naira-appreciates-against-us-dollars-at-forex-market-friday/
  9. K

    Business Naira falls to N1,490/$ in parallel market - Vanguard News

    https://www.vanguardngr.com/2024/02/naira-falls-to-n1490-in-parallel-market/
  10. K

    Business Naira again depreciates against US dollar at forex market -Daily Post

    https://dailypost.ng/2024/01/13/naira-again-depreciates-against-us-dollar-at-forex-market/
  11. Naira Faces 1.1% Depreciation, Hits 1,233/$ at Parallel Market Amidst Forex Market Dynamics

    Nigeria Naira Faces 1.1% Depreciation, Hits 1,233/$ at Parallel Market Amidst Forex Market Dynamics

    The naira experienced a decline, exchanging at 1,233/$ at the parallel market, as reported by Bureau de Change (BDC) operators. Conversations with BDC operators revealed that the local currency, traded at 1,228/$ and 1,233/$, maintained the same rate from Friday. Figures from Abokifx indicated...
  12. Nigeria's Forex Woes: A Deep Dive into the Causes, Impacts, and Elusive Solutions

    Nigeria Nigeria's Forex Woes: A Deep Dive into the Causes, Impacts, and Elusive Solutions

    Amid assurances from President Bola Ahmed Tinubu that Nigeria is open for business, a persistent forex crisis continues to cast a shadow on the country's financial stability and international reputation. Despite claims that barriers to investment have been dismantled, the ongoing struggle with...
    • Nigeria News
    • Article
    • 2 min read
    • cbn governor exchange rate forex crisis in nigeria yemi cardoso
    • Category: Business
  13. Naira Soars to N750.14 Against Dollar

    Nigeria Naira Soars to N750.14 Against Dollar

    The Nigerian Naira showcased a robust performance, closing at N750.14 against the dollar at the official market on November 20, 2023. This 5.55% appreciation brought relief to financial analysts, attributing the upswing to the Central Bank of Nigeria's (CBN) strategic move to clear a backlog of...
    • Nigeria News
    • Article
    • 1 min read
    • exchange rate monetray policy yemi cardoso
    • Category: Business
  14. Naira Plunges to N1,105 Against Dollar

    Nigeria Naira Plunges to N1,105 Against Dollar

    The Naira experienced a staggering fall, reaching a historic low of N1,105 against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Central Bank of Nigeria's (CBN) approved official market. The day began with the Naira opening at N830, marking a rapid depreciation...
    • Nigeria News
    • Article
    • 1 min read
    • channels tv exchange rate naira against dollar
    • Category: Business
  15. Nigerian Naira's Strengthens to ₦950/$ Amid CBN Actions"

    Nigeria Nigerian Naira's Strengthens to ₦950/$ Amid CBN Actions"

    In a remarkable turn of events, the Nigerian naira continued its impressive rebound against the US dollar on Friday, surging to an exchange rate of ₦950/$ in the parallel market. This marks a substantial gain of ₦170 or a 15.18% appreciation of the local currency compared to the ₦1,120/$ it...
  16. Nigerian Naira Experiences Remarkable Appreciation, Surges to N1,040 Against the Dollar in Parallel Market

    Nigeria Nigerian Naira Experiences Remarkable Appreciation, Surges to N1,040 Against the Dollar in Parallel Market

    In a surprising turn of events, the Nigerian naira witnessed a remarkable appreciation against the U.S. dollar in the parallel section of the foreign exchange market. On Friday, the local currency soared by N145, marking a substantial increase of 12.24 percent, reaching the impressive exchange...
  17. Nigeria's Industries Under Siege as Naira Weakens to N1,155 Against the US Dolla

    Nigeria Nigeria's Industries Under Siege as Naira Weakens to N1,155 Against the US Dolla

    Industries across the nation are grappling with immense challenges as the Nigerian naira continues its sharp decline against the U.S. dollar. The unofficial exchange rate in Lagos and Abuja recently reached between N1,150 and N1,155 per dollar. This alarming trend is causing significant distress...
  18. Naira Sinks to 1,025/$: Troubling Plunge Sparks Fears of Economic Unrest

    Nigeria Naira Sinks to 1,025/$: Troubling Plunge Sparks Fears of Economic Unrest

    Nigeria is grappling with a deepening economic crisis as the Naira plunged to an alarming exchange rate of 1,025 Naira to the US dollar in the parallel market. This decline, which continues to sow panic and instability, has ignited concerns among small-scale enterprises, manufacturers, and...
    • Nigeria News
    • Article
    • 2 min read
    • cbn policy exchange rate forex crisis
    • Category: Business
  19. Nigeria News

    Politics Dollar Crashes To N790 At Parallel Market After Tinubu, CBN Gov’s Meeting - Daily Trust

    https://dailytrust.com/after-tinubu-cbn-governors-meeting-dollar-crashes-to-n790-at-parallel-market/
  20. Nigeria News

    Business Exchange rate plummets to N910/$1 - Nairametrics

    https://nairametrics.com/2023/08/09/exchange-rate-plummets-to-n910-1-disparity-widens-to-n153-1/

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