Nigeria's money saved from the rest of the world has gone down by about $342.97 million in just nine days.This information comes from the Central Bank of Nigeria (CBN).The small drop in Nigeria’s savings happened right before the government...
The value of the naira, Nigeria's money, went up to N1,570 for $1 on Thursday. This was on the Nigerian Autonomous Foreign Exchange Market (NAFEM). It means the naira got stronger by 2.47%...
The Nigerian Government is getting ready to offer a special type of bond called a dollar bond next Monday. They hope to collect $500 million from people inside and outside Nigeria. This information was shared by Dr....
In July 2024, Nigeria's exchange rate dropped to N1608.73 per $1. This means the naira lost 6.43% of its value in the official market.
According to FMDQ data, the naira was at its lowest in four months in July. It...
The Central Bank of Nigeria (CBN) is planning a new way to help people who need foreign money (like dollars). This new plan is called the Retail Dutch Auction System (DAS).
This...
The cost to pay Nigeria Customs Service (NCS) has gone up. Now, it is N1618.73 for 1 dollar. Before, it was N1600.32 for 1 dollar.
This new price is the highest since March 2nd, 2024. Back then, it was N1630...
Key Points
Nigeria spent $689.88 million on food imports in Q1 2024, making up 17% of total foreign exchange (FX) spending on imports. This is a 40% increase from the previous quarter.
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The value of the Nigerian Naira dropped, which helped the Nigeria Identification for Development (ID4D) project gain N8.6 billion. This project, backed by big international groups like the World Bank, wants all Nigerians to get their National Identification Number...
The amount of money exchanged in foreign currency (known as forex) on the FMDQ official market was just $61.9 million. This is the lowest amount since January 2024.
This is also the second smallest...
The Nigerian government has started a new plan to make money by creating Series I Domestic USD Bonds. They want to get at least $500 million from people both inside and outside the country.From the information available, the government...
