Foreign Exchange

With the TRMS, the apex bank can monitor applications for dollars in real-time and track applicants with their BVN or TIN.

What is PTA Exchange rate? PTA exchange rate is the USD/NGN prevailing buy and sell market rate at which applicants for Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) who need foreign currencies are ready to pay to meet their FX needs. PTA means Personal Travel Allowance while BTA means Business Travel Allowance for travellers

Nigeria’s foreign exchange market continues its poor performance as one British pound sterling was sold by Bureau De Change operators for N745//£1 Wednesday, December 15, 2021, in Lagos State, Nigeria’ commercial capital. In the past, naira gained at FX market during Yuletide considering the inflow of forex to the country courtesy of Nigerians in the

Naira crashed to NGN575/$1 at the close of business at the parallel market on Friday, December 10, 2021, in Lagos, Nigeria’s commercial city. When contacted, a Bureau De Change operator in Lagos stated that it exchanged for NGN572/$1 (buy) and NGN565/$1 (sell) on Thursday. The best exchange rate the naira has ever got since its

On November 10, 2021, the governor of the Central Bank of Nigeria (CBN) Godwin Emefiele at the France-Nigeria Security and Economic Summit, in Paris, France, expressed optimism that by the middle of 2022, Nigeria’s foreign reserves will surpass the $42 billion thresholds. It’s been turbulent for Nigeria’s economy and its foreign exchange market in recent

The exchange rate of the US dollar to Naira on Monday, December 6, 2021, shows the value of the Nigerian currency isn’t showing any sign of improvement, most especially at the black market (parallel market). Black market rate As of Monday, December 6, 2021, 11:45 AM, $1 was selling at NGN565 (buy) and NGN560/$1 (sell),

For close to three decades, Nigeria’s economy has depended largely on the importation of finished products, even some indigenous manufacturing companies import raw materials. To put a stop to an importation economy, the Central Bank of Nigeria (CBN) on October 25, 2021, launched the “100 for 100” Policy on Production and Productivity (PPP). The laudable

The naira continued its appreciable performance against the US dollar on November 12, 2021, at the black market, it closed at NGN525 at the close of business on Friday. On Thursday, at the close of trade, it appreciated against the dollar at the parallel market on Thursday to trade at N540 per dollar. and NGN530

The naira is showing an improvement at the exchange market as it gained against the US dollar early morning of Thursday, November 11, 2021 On September 30, USD traded NGN580 while it went for NGN575 on October 6, five days after the Central Bank of Nigeria (CBN) postponed the launch of its digital coin dubbed eNaira

eNaira, Nigeria’s digital coin, seems to be having a good impact on the fiat version of Nigeria’s currency. On Wednesday, November 3, 2021, $1USD was NGN557 as against NGN565/$1 a month ago. Recall that eNaira which was scheduled for launch on October 1 to commemorate Nigeria’s Independence, but was postponed and eventually launched by President