FOREX MARKETS

 The Naira on Thursday gained one point to appreciate against the dollar at the parallel market in Lagos. The News Agency of Nigeria, (NAN) reports that the Naira exchanged at N439 to a dollar at the parallel market in Lagos, while Pound Sterling and the Euro closed at N580 and...

 The Association of Bureau de Change Operators of Nigeria (ABCON) has warned its members not to sell foreign exchange to unauthorised buyers to avoid sanctions on the body as they resume sales. The association’s President, Alhaji Aminu Gwadabe, gave the warning on Wednesday, during a webinar with the topic: “Resumption...

  The Central Bank of Nigeria (CBN) has issued a circular removing buying agents/companies or any third parties from accessing its SMIS forex window through FORM M forex purchases. The apex bank in a circular dated August 24, 2020, instructed that “Authorized Dealers are hereby directed to desist from opening...

The Manufacturers Association of Nigeria (MAN) has praised the efforts of the Central Bank of Nigeria (CBN) at unifying the country’s Foreign Exchange (forex) windows, describing it as a welcome development, saying it will engender increased investment inflow into the real sector of the economy. The position of the body...

The Association of Bureau De Change Operators of Nigeria (ABCON) has said that the reopening of the BDC window for foreign exchange, among others, would crash the prevailing spike in the exchange rate. Alhaji Aminu Gwadabe, President, ABCON, said this while speaking to the News Agency of Nigeria (NAN) on...

The Manufacturers Association of Nigeria (MAN) says the unification of the country’s exchange rate is a welcome development that will engender increased investment inflow in the real sector of the economy. Mr Mansur Ahmed, MAN President, made this remark in a report made available to newsmen on Friday in Lagos....

  The Central Bank of Nigeria (CBN) has assured that foreign investors in Nigeria interested in transferring their funds abroad will not face hurdles in doing so despite the current economic condition. Godwin Emefiele, the CBN governor, gave the assurance in a statement in Abuja on Sunday, adding that the...

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said on Friday that over $60 billion had been traded in the Investors and Exporters (I&E) window segment of the foreign exchange market since its inception in April 2017. Emefiele disclosed this in his opening address at the 2019...

The Retail Secondary Market Intervention Sales (SMIS) on Friday received a boost of 280.04 million dollars from the Central Bank of Nigeria (CBN). The bank’s Director, Corporate Communications Department, Mr Isaac Okorafor, made this known in a statement in Abuja. Okorafor said CBN also injected CNY 28.3 million in the...

  The Naira on Thursday was sold at N359.3 to the dollar at the parallel market in Lagos. The Pound Sterling and the Euro closed at N450 and N396, respectively. At the Bureau De Change (BDC) segment, the naira traded at N359.3 to the dollar, while the Pound Sterling and...