The House of Representatives, presided over by Speaker Tajudeen Abbas on Wednesday, adopted a motion urging banks to adhere to the Central Bank of Nigeria’s policies on excess long foreign exchange and Net Open Position (NOP) limits. This motion, brought forward by Babajimi Benson, the member representing Ikorodu Federal Constituency, highlighted the CBN’s regulatory role […]
The Nigerian foreign exchange market saw a significant increase in transaction volume, reaching a total value of $584 million, according to the FMDQ Exchange’s report on Tuesday. This marked a substantial rise from the previous $440 million daily transactions observed on the Nigeria Autonomous Foreign Exchange Market (NAFEX), indicating improved liquidity in the official forex […]
In an effort to stabilize the nation’s volatile exchange rate, the Central Bank of Nigeria (CBN) has directed Deposit Money Banks to sell their excess dollar stock by the latest date of February 1, 2024, as revealed by a new circular. The directive specifically targets excess dollar liquidity exceeding $5 billion held by these banks. […]
What is the current Dollar to Naira exchange rate at the black market, also known as the parallel market (Aboki fx)? See the black market exchange rate for 1st February below. You can exchange your dollars for Naira at the following rates. How much is a dollar to Naira today in the black market? The […]
The Central Bank of Nigeria (CBN) has updated its guidelines, announcing a substantial increase in the application fee for international money transfer operators (IMTO) license applications from N500,000 to N10 million. This surge of about 1,900% over a decade was outlined in the revised guidelines for IMTO operations released on January 31, 2024. In addition […]
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The Federal Government is reportedly considering a policy to convert foreign currencies held in domiciliary accounts of citizens to naira, aiming to stabilize the national currency. If the plan proceeds, the government would mandate the conversion of foreign currencies in individuals’ and corporate organizations’ domiciliary accounts to naira at a rate determined by the Central […]
What is the Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki FX)? Below, you can find the black market exchange rate for Dollar to Naira on 2nd February. You have the option to exchange your dollar for Naira at the following rates. What is today’s Dollar to […]
GoldenNewsNg gathered that the Federal Mortgage Bank of Nigeria (FMBN) has provided more details about its rent–to–own mortgage housing that will attract no interest. As against the previous seven percent interest paid on an annual basis, the bank said it introduced non-interest housing to encourage financial inclusion in the country. According to a release by […]
Dollar to Naira Exchange Rate Today 5th Feb 2024: Latest Update and Analysis The black market, also known as the parallel market, is a place where foreign currencies are exchanged unofficially at rates that differ from the official exchange rate set by the Central Bank of Nigeria (CBN). This market is often used by individuals […]
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