[Sep 10 5:30 AM] The Central Bank of Nigeria resumed selling US dollars to money changers to address the falling value of the naira. This decision came after the naira-to-dollar exchange rate dropped to a low of NGN1,639 per dollar, likely due to increased demand…
[Oct 26, 2023 2:00 AM] A Nigerian official recently said the foreign exchange-starved country plans to include “legitimate” market participants like bureaux de change and financial technology companies in the official forex currency market. Finance Minister…
[Jun 18, 2023 12:30 AM] The Nigerian currency’s official exchange rate versus the greenback recently plunged to NGN634 per dollar from just under NGN470 per dollar. The central bank’s decision to allow the naira to “float” came a few weeks after Nigerian…
[Jun 2, 2023 11:30 AM] The Central Bank of Nigeria (CBN) said on June 1 that the report claiming it had devalued the local currency to N631 per dollar “is replete with outright falsehoods and destabilising innuendos.” The Nigerian publication Daily Trust has…
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