Featured
Again, naira plummets further against dollar
The naira exchanged to the dollar at N504 at the parallel market on Friday—from N500 a week earlier, and N490 a month ago.
The Naira sold between N503 and N504 on Friday, according to bureau de change operators naijabdcs.com
The CBN has disclosed that it is increasing the amount of foreign exchange allocated to banks to meet legitimate needs.
CBN Governor Godwin Emefiele then warned Deposit Money Banks to desist from denying customers the opportunity to purchase foreign exchange.
Transactions including Personal Travel Allowance, Basic Travel Allowance, tuition fees, and medical payments will have access to forex. Likewise Small and Medium Enterprises transactions or for the repatriation of Foreign Direct Investment proceeds.
Nigerians travelling abroad could access a maximum amount of $4,000 foreign exchange from the banks, while those travelling on business trips could also access a maximum amount of $5,000 for each trip.
-
Latest1 week agoAPC’s Asogwa wins Enugu North senatorial by-election by wide margin
-
Latest1 week agoAPC, PDP clinch key by-elections as INEC declares winners in Kano, Rivers
-
Latest1 week agoOyebanji extends lead as APC dominates Ekiti governorship race with 91% of results uploaded
-
Politics1 week agoPRP presidential primary heads to court as aspirant challenges Donald Duke’s nomination
-
Latest4 days agoAlleged xenophobic attack claims life of Malawian street vendor in South Africa
-
Politics1 week agoWike-backed Lagos PDP extends olive branch to Bode George ahead of 2027 realignment
-
Football1 week agoJapan crush Tunisia 4-0 in historic 1,000th World Cup match as Curacao earns first-ever point
-
Latest1 week agoOyebanji secures landslide re-election as INEC declares APC winner of Ekiti governorship poll