Naira in Free Fall against the Dollar Following CBN’s New Policy

The Naira has crashed against the dollar at the official investor and exporter window to exchange N664.04/$1 on Wednesday. The development follows the decision of the Central Bank of Nigeria to allow commercial banks and dealers to sell forex at market-determined rates. Data from the FMDQ where forex is traded by investors and exporters closed […]

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JUST IN ! CBN to Stop Selling Forex to Banks

JUST IN ! CBN to Stop Selling Forex to Banks

The Central Bank of Nigeria (CBN) On Thursday, announced that it will stop selling forex to Deposit Money Banks by the end of 2022. The new development was announced by the Central Bank Governor, Godwin Emefiele in Abuja at the end of the Bankers’ Committee meeting where he also introduced the RT200 Programme. Emefiele added […]

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N1000 now Equals 1000 CFA

N1000 now Equals 1000 CFA

Nigerians at the Cotonou border are screaming about the the exchange rate as N1000 this morning equalled 1000CFA in the black market. Time it was when Nigerians mocked the worthless value of the Francophone West Africa currency. It took barely 24 hours for the 2 currencies to square up leaving business men wondering where to […]

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