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Tag Archives: Central Bank of Nigeria

Euro To Naira Black Market Today

The Euro to Naira exchange rate in the black market has reached a new high, with the rate standing at N1,559.767 on March 25, 2024. This marks a significant increase, with the Euro gaining at least 46% in value against the Nigerian Naira over the past year in the unofficial …

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Geregu, Dangote Cement, BUA, Transcorp Shield Market From Rate Hike

THE Nigerian stock market has exhibited resilience, buoyed by the shares of companies associated with four Nigerian billionaire businessmen, despite the Central Bank of Nigeria’s (CBN) significant interest rate hike last month. In the first Monetary Policy Committee meeting under Governor Olayemi Cardoso, the CBN increased the monetary policy rate …

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Naira Appreciates By 1.5% Against Dollar

THE Naira experienced a slight appreciation at the official market, trading at N1,431.49 to a dollar on Friday. Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N21.79 or 1.5 per cent, compared to the previous day’s rate of N1,453.28 against the dollar. However, …

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CBN Clears $7 Billion Foreign Exchange Backlog

THE Central Bank of Nigeria (CBN) has cleared the $7 billion foreign exchange (FX) backlog which was pending when Yemi Cardoso took over as the Governor of the apex bank. This development was announced in a statement on Wednesday by the CBN Acting Director of Corporate Communications, Hakama Sidi Ali. According to her, …

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