Latest Naira exchange rate news, CBN policy updates, Dollar to Naira market movements, forex developments and Nigerian economic news. Follow important updates affecting USD, GBP, EUR and other currencies against the Naira.
The Japanese Yen experienced fresh downward pressure in the global currency markets, sliding back to the critical psychological threshold of 160 per U.S. Dollar. This recent dip is primarily triggered by renewed international trade tensions and macro-economic factors that have…
The Central Bank of Nigeria (CBN) has officially released the fourth edition of its comprehensive Foreign Exchange Manual. Issued by the Trade and Exchange Department, the updated regulatory framework outlines detailed compliance guidelines, documentation requirements, and stricter operational procedures for…
The Dangote Petroleum Refinery has implemented a fresh price review, cutting its ex-depot petrol price from ₦1,275 to ₦1,250 per litre. In tandem with this adjustment, the refinery also reduced diesel costs from ₦1,800 down to ₦1,700 per litre, a…
Operating in the high-liquidity financial corridors of Zone 4 in Wuse, Abuja, demands sharp attention to sudden market movements. The local parallel market is highly dynamic, meaning that exchange rate indicators can shift rapidly within a single afternoon based on…
Managing international business payments requires smart utilization of reliable financial technology tools. For entrepreneurs and currency users navigating digital transactions, choosing between different fintech platforms like Moniepoint, Geegpay, Chipper Cash, or Monnify can significantly affect the speed and profit margin…
As the Central Bank of Nigeria (CBN) financial compliance deadlines approach, commercial banks and fintech infrastructure providers are upgrading their operations to align with the global ISO 20022 payment messaging standard. This migration is designed to modernize Nigeria’s payment networks,…
The recent directive from the Central Bank of Nigeria (CBN) regarding mandatory geo-fencing compliance and the expansion of the operational radius for Point-of-Sale (PoS) terminals to 70 metres has triggered widespread discussions across major financial hubs. In active currency exchange…
The Central Bank of Nigeria (CBN) has officially announced an extension for the mandatory geo-fencing compliance directive targeted at Point-of-Sale (PoS) terminals across the country. According to a recent circular signed by Rakiya Mohammed, Director of the Payments System Supervision…
For small and medium enterprises (SMEs) operating in Abuja, managing foreign exchange risks has become a vital part of daily business survival. Sudden movements in the parallel market can easily affect profit margins, especially for businesses that rely on importing…
Foreign remittances play a crucial role in Nigeria’s economy, as thousands of families and small businesses rely on funds sent from abroad. When receiving money in foreign currencies like the US Dollar (USD), British Pound (GBP), or Euro (EUR), one…