Tag: Foreign Exchange
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Naira trades at 1,507.83/$ as FX inflows hit $24 billion
On Wednesday, the naira exchanged at N1,507.83 to the dollar in the official foreign exchange (FX) market, owing to enhanced liquidity following the country's...
Airtel Records $549M Foreign Exchange Loss on Naira, Kwacha Devaluation
Airtel Africa, Nigeria's second-largest telecoms operator, recently announced substantial financial setbacks due to currency depreciation in important markets such as Nigeria and Malawi.
For the...
Petroleum sector has the solutions to Nigeria’s problems – Lokpobiri
Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has opined that the Petroleum Sector in Nigeria had the solutions to the country’s problems...
CBN has discovered new foreign exchange scam amounting to $2.4 billion
The head of the Central Bank of Nigeria, Yemi Cardoso, said that law enforcers are looking into foreign exchange deals worth about $2.4 billion.
Cardoso...
Ease as CBN eventually eliminates the entire legitimate FX backlog
The Central Bank of Nigeria (CBN) said on Wednesday that it had finally paid off all legitimate foreign exchange backlogs, processing claims totaling US$7...
