Nigeria Currency (Naira) Maintains N367 Per Dollar At Parallel Market

The Nigerian monetary unit on weekday remained stable at the parallel market, exchanging at N367 to a greenback, the press agency of Federal Republic of Nigeria reports. The Nigerian currency maintained its Friday rate, whereas the pound and also the monetary unit listed at N478 and N433 severally. Trading at the Bureau First State modification section saw the Nigerian monetary unit closing at N363 to the greenback, whereas the pound and also the monetary unit listed at N478 and N433, severally. The Read more [...]

CBN Pumps $9.96bn Into FX Market In Six Months

The financial organization of African country (CBN) has injected $9.964 billion into the interbank phase of the interchange (forex) market since it commenced its aggressive interventions in Feb this year. This has helped to ease pressure on Nigeria’s forex market, that before the action by the regulator had been pummeled by speculators. According to figures compiled between Feb twenty one and August twenty one, the CBN sold the buck to authorized dealers in forty four sessions. A breakdown Read more [...]

Nigeria, Libya Anticipated At Subsequent Meeting

The joint ministerial monitoring committee for the Organization of Petroleum Exporting Countries and non-OPEC oil producers collaborating in the manufacturing cut deal has said it will invite representatives from Nigeria and Libya to its subsequent assembly in September to explain their manufacturing outlooks. The deal, which commenced on January 1 and known as on OPEC nations and 10 non-OPEC producers led through Russia to cut a blended 1.8 million barrels per day in supplies, was once in May Read more [...]

A drop on liquidity injection

This is to inform the general public that news reaching us from traders bears it that on Friday, Nigeria’s overnight lending rate dropped to 12 percent after spiking to almost 100 percent on Wednesday due to a liquidity squeeze as lenders paid for hard currency and treasury bills purchased from the central bank. While on Thursday, Money market rates moderated after the state disbursed 224.54 billion naira ($715.10 mln) in budget allocations to its three tiers of government, boosting liquidity Read more [...]

Black Market Dollar To Naira Current Rate

Today’s Naira Black Market Exchange Rates on the following currency. - Dollar to Naira. - Pounds to Naira. - Euros to Naira. Prevalent rates for Lagos. Actual rates may vary slightly. NAIRA (N)                     USD ($)                       EURO (€)                GBP (£)                                            BUY/SELL                BUY/SELL                BUY/SELL 24/8/2017                       Read more [...]

Can Nigeria Currency (Naira) be stable in the coming week?

The Nigerian Currency (Naira) is expected to be stable in the coming week as investors seek to fill their dollar requirements from the official window, reducing pressure in other market segments. On the black market, the local currency was trading at 370 to the dollar, weaker than 367 a dollar last week and the local currency was quoted at 361.54 per dollar on the investor forex window on Thursday, around the same level as last week. NOTE THE  FOLLOWING INFORMATION'S GHANA - Ghana’s cedi Read more [...]

Nigeria’s Oil Output Slightly Below 1.8 Million Barrels Per Day In July

Last year, Crude production in the country was cut by more than a third when militants carried out a series of attacks on energy facilities in the southern Niger Delta oil hub and the country’s crude oil exports are expected to fall to 1.72 million barrels per day in October, according to loading programmes. According to the country’s oil minister, on Thursday, he said Nigeria’s oil production, excluding condensates, was slightly below 1.8 million barrels per day in July and that condensates Read more [...]

Additional Stores Chalk up $1.26bn as Shale Oil Threat Persists

The accretion of Nigeria’s forex (foreign currency) reserves has ongoing, as figures released while using the Central Bank of Nigeria (CBN) have proven that reserves had grown by $1.263 billion this quarter to $31.551 billion by August 16, rather inside the $30.288 billion on June 30.This signified a reliable improvement inside the country’s current balance, whatever the threat from rising shale oil production within the united states . Condition of america. The event in reserves appeared to Read more [...]

Central Bank Of Nigeria (CBN) Intervenes With $364 Million Dollar

This is to notify the general public that Central Bank Of Nigeria (CBN) on Tuesday intervened in the interbank forex market to the tune of $364 million, in a bid to sustain liquidity in the market. A breakdown of the intervention indicated that the retail Secondary Market Intervention Sales (SMIS) received the largest allocation of $264,192,252.95. The CBN also offered the sum of $100,000,000 to authorized dealers in the wholesale window. The Central Bank Of Nigeria (CBN) sources said the Read more [...]

Parallel Market Rate Crashed By Central Bank of Nigeria (CBN)

The central bank issued the directive in a circular titled, “Payment of Ports and Nigerian Maritime Administration and Safety Agency Charges by Oil Marketing Companies,” signed by its Director, Trade and Exchange Department, Mr. W.D. Gotring. As part of efforts to further strengthen the value of the Naira on the parallel market segment of the foreign exchange (forex) market, the Central Bank of Nigeria (CBN) has directed that payments for port charges to the Nigerian Ports Authority (NPA) and Read more [...]