Naira Appreciates As Forex Reserves Rises

The naira rallied to a recovery at the weekend on the back of sustained increase in the country’s foreign exchange (forex) reserves. The naira appreciated by 1.0 per cent to N1, 482.81 per dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM). This came

CBN Raises Import Duty Rate Again After Naira’s Crash Against Dollar

Following the naira’s depreciation, the Central Bank of Nigeria has raised the exchange rate for calculating import duty at Nigeria’s ports to N1,457.014 per dollar. The Customs Forex duty rate represents a three-percent hike in the rate of each dollar needed to clear

Naira Declines By 4.6% Against Dollar At Official Market

The Naira on Tuesday depreciated at the official market, trading at N1,416.57 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira lost N62.36. This represents a

CBN Defended Naira with $10.3b In Six Months

CBN Defended Naira with $10.3b In Six Months

The Central Bank of Nigeria (CBN) defended the naira in six months with $10.3 billion intervention in the inter-bank foreign exchange market, its half-year report has shown. The naira dipped to N429.75/$1 on the Investors’ & Exporters’ window at last week’s trading sessions,