Forex

The naira has rebounded by 20.8 per cent to 720/dollar at the parallel market, findings by The PUNCH have shown. The development came two weeks after the local currency came under severe pressure at the black market, following the…

Foreign currency dealers have complained to the Inspector-General of Police, Usman Baba, about their ordeals in the hands of operatives of the Economic and Financial Crimes Commission following the arrest of some of them. The dealers…

The Economic and Financial Crimes Commission on Tuesday carried out simultaneous operations against Bureau de Change operators in Abuja and Kano, as the Naira slumped to N857 to a dollar at the parallel market. It was gathered that the…

First Bank of Nigeria has announced the suspension of the use of naira cards for international transactions starting September 30. The bank explained that its action was motivated by the nation’s ongoing forex crisis in a statement that…

The general overseer of Omega Power Ministry, Apostle Chibuzor Chinyere has cancelled overseas scholarships for Nigerian students due to high dollar rate. The Port Harcourt based cleric made this known in a Facebook post on Tuesday.…

Aviation expert Bankole Bernard has urged President Muhammadu Buhari’s regime to urgently assist in the provision of foreign exchange to allow foreign airlines repatriate their unremitted ticket revenue. Mr Bernard, Finchglow Holdings…

The Senate, on Wednesday, said it would summon the governor of the Central Bank of Nigeria, Godwin Emefiele, over inflation and naira devaluation which had led Nigerians to more hardship. The senators lamented that the United States…

The Nigerian currency has continued its free fall sinking further to N658 against the U.S. dollar in the parallel market, according to data from Aboki Forex. The naira, which traded for N620 against the dollar on Monday, N630 on…