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Naira

CBN Officially Devalued Naira Again

The Central Bank of Nigeria (CBN) has yet again officially devalued naira as a result of its introduction of the new Nigerian Autonomous Foreign Exchange (NAFEX). The Nigeria apex bank has depreciated the currency by 8 percent, to…

CBN Instructs BDC To Sell Naira At ₦392/$

The Central Bank of Nigeria (CBN) has ordered Bureau De Change (BDC) operators in Nigeria to trade dollars at ₦392 to end-users. The directive was given in a circular signed by O.S. Nnaji, director of trade and exchange at the CBN, and…