The US Dollar rose against the Naira on Tuesday, May 23, 2023, at the parallel market as Nigerians countdown to the May 29 inauguration of the president-elect Asiwaju Bola Ahmed Tinubu. Three days ago, the USD sold at NGN760 at the unofficial market, but today, the naira fell further trading at NGN765 at the black … Read more
Nigeria is responsible for 33.8% of the revenue of foreign airlines trapped in countries around the world. Nigeria and others owed $2.2 billion to airlines, said spokesperson of the International Air Transport Association (IATA) Katherine Kaczynska in March 2023. Under the watch of the outgoing President Muhammadu Buhari, the revenue of foreign airlines which they … Read more
As the legal fireworks continue at the Presidential Election Petitions Tribunal in Abuja against the victory of Asiwaju Bola Ahmed Tinubu in the February 25, 2023 Presidential election, it’s certainly incontestable that the former Lagos State governor will be sworn in as Nigeria’s president on May 29, 2023, signals from Aso Villa are enough indicators. While he warms … Read more
If you conversant with the financial system or international trade you must have heard about people making money (or losses) from buying and selling of currencies. For instance valuation difference between the US Dollar (USD) and Euro (EURO) or any other currency pairs could go either way depending on the side you take. They do … Read more
There is an update on foreign exchange purchases for Personal Travel Allowance (PTA), Business Travel Allowance (BTA), and payment of foreign medical bills majorly under the Form A FX application. Initially, the processing time for Form A was within four weeks or a month, but the same application will now take at least 120 days … Read more
There are no better ways to describe convenience when sending money to Ghana from the United Kingdom and the recipient gets a credit alert within hours. Why the Ghanaian population in the UK matters The growth of the Ghanaian population in the UK is an opportunity for remittance firms not only to make a profit … Read more
Until the Central Bank of Nigeria (CBN) restricted the operations of some International Money Transfer Operators (IMTOs) on December 17, 2020, it was easy for Nigerians to send money from the United Kingdom to Nigeria. That has now changed, according to a report by Reuters. It’s more tedious to make remittances from the UK to … Read more
Since the beginning of this year, the US dollar (USD) has been constantly increasing in strength and has even been able to rub shoulders with the Euro in value for the first time in so many years. To the US, a strong USD is a blessing, but an economic problem for countries that depend on imports, especially … Read more
If you are planning on traveling abroad for business, tourism, or for research, there are several things you must put in place to have a smooth trip. However, one of the prominent things that must be settled has to do with doing a currency exchange, since you have to spend the currency of that country … Read more
It would have been the craziest thought if anyone ever mentioned in 2015 that a US dollar would be NGN700 when converted to Nigerian Naira in the next seven years. But it has even gone beyond that rate. It is an embarrassing reality today that $1 has crossed NGN800, so where do you see USD … Read more