Banking
Naira falls by 0.7%, trades N1,309.39/$
The Naira, on Thursday, experienced a slight depreciation at the official market, trading at N1,309.39 to a dollar. Data from...
Banks get 24 months to jerk up capital base to N500 billion
The Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements for banks and pegged the minimum capital base...
Banks begin deduction of 0.375% stamp duty charges on loans
Commercial banks in the country have commenced the deduction of 0.375% on all loans disbursed by them. This follows a...
Naira gains 6%, trades N1,300/$ at official market
The Naira appreciated against the dollar by 5.97 per cent at the official market by the close of Wednesday’s trading...
Naira on steady recovery, trades N1,382.95/$ at official market
The Naira experienced a further appreciation at the official market, trading at N1,382.95 to a dollar on Tuesday. Data from...
CBN raises inter-bank interest rate by 200 basis points to 24.75%
The Monetary Policy Committee (MPC) of the CBN raised the Monetary Policy Rate (MPR) – inter-bank loan interest rate –...
BDCs get dollars at N1,251/$1 from CBN
Licensed Bureau de Change operators in the country have each received $10,000 from the Central Bank of Nigeria (CBN) at...
ABCON commends CBN’s efforts to resolve forex crisis
The Association of Bureau De Change Operators of Nigeria (ABCON), has applauded recent reforms by the CBN to tame inflation...
Naira drops to N1,431.49/$ at official window, rises to N1,468/$ at parallel market
The naira, on Friday, dropped to N1,431.49/$ on FMDQ Exchange, a platform that oversees official foreign exchange (FX) trading in...
NACCIMA raises concern over forex restoration for dairy products
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has expressed concern that the removal of import...