Tag: Foreign Exchange
Nigeria’s Forex Inflow Surges as Remittances Quadruple to $1.3 Billion
The Central Bank of Nigeria (CBN) has announced a substantial rise in foreign exchange inflow into the Nigerian economy for the month of February. According to ...Chief Okoi Obono-Obla Urges Focus on Local Production and Patronage Amidst Economic Hardship
Chief Okoi Obono-Obla, a former presidential adviser, advocates for a deliberate push towards promoting the manufacturing and consumption of locally made goods in Nigeria, stressing the ...Finance Visionary Dr. Dominic Joshua Unveils Holistic Strategy to Uplift Naira
As the Nigerian naira faces a formidable challenge, plummeting to ₦1,520.123 against the U.S. dollar in the parallel market, Dominic Joshua, a distinguished entrepreneur, finance expert, ...CBN Implements 24-Hour Sell-off Directive for Nigerian Banks’ Excess Dollar Holdings
In a decisive move to curb currency volatility, the Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) to promptly offload surplus foreign exchange ...Naira Nosedives: Backlog Bites as Dollar Demand Swells, Reaching N900.96 Low
The Nigerian naira continues its descent, plunging to a fresh low of N900.96 against the dollar at the official market on Friday, January 26th, 2024. This ...