Forex

Further devaluation: Naira’s official rate may hit N430/$ by year end – Report

By Omobayo Azeez Indications are rife that by the end of this year, Naira, Nigeria’s local currency will be further…

Traders stay away from forex market over naira devaluation

As the Central Bank of Nigeria rejigs the forex market as a prelude to rate unification and further devaluation of…

CBN funded forex market with $11.5bn in Q1 – CBN

Amid forex supply limitations, the Central Bank of Nigeria funded the the forex market with a total of $11.5bn during…

CBN hits banks with massive debits, deducts N122bn in rate unification drive

As part of its forex management effort during foreign exchange shortages, the Central Bank of Nigeria hit baks with extra…

Moody’s warns Nigerian banks vulnerable in face of forex liquidity pressures akin to 2016-2017 crisis

$3.8bn-$5bn funding gap seen Gobal rating agency, Moody's, has issued fresh warnings in a new report that Nigerian banks are…

CBN, ABCON move to wreck currency speculators, restore normalcy to forex market

Moses Obajemu The naira is facing its greatest risk from the coronavirus pandemic, as currency speculators continue to make spurious…

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