Election funding driving Nigerian naira to new lows
Politicians in Nigeria are buying dollars to fund vote hunting in primary elections that start over the weekend, driving the local currency to new lows in the unauthorized parallel market,…
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Dollars
Travel agents deny plans to sell air tickets in dollars
Travel agents under the auspices of National Association of Nigeria Travel Agencies, (NANTA) have denied plans to sell air tickets in dollars following the FX scarcity and inability of…
Christmas shopping in Dubai drives demand for dollar
Christmas shopping in Dubai occasioned by Emirates Airline resumption of flight between Dubai and Nigeria is now driving demand for the dollar despite selling off of hoarded foreign exchange…
Nigerian banks ask customers to return unutilised dollars within 2 weeks
Nigerian banks have asked customers to return unutilised dollars within two weeks from the day of purchase, in response to the Central Bank of Nigeria (CBN)'s directive.
The CBN on Monday…
Naira ends week strong despite 34.3% drop in liquidity
The foreign exchange market ended the five trading days with the naira closing strong against the dollar, in spite of a 34.30 percent drop in liquidity at the official market.
Naira…