Nigeria Foreign Exchange

Foreign Exchange Market Nigeria Dollar To Naira

CBN Says TransferWise, Azimo Not Registered In Nigeria, Users Fault Apex Bank

The Central Bank of Nigeria (CBN) has warned that Azimo Money Transfer isn’t a registered IMTO in Nigeria. The apex bank in a tweet also warned Nigerians to steer clear of another international money transfer operator TransferWise, saying they’re not licensed to handle money transfers in Nigeria. In properly managed and regulated by the CBN, […]

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List of IMTOs in Nigeria

Forex

Do you have family and friends in Nigeria you would like to send money to? You need not worry because the Central Bank of Nigeria (CBN) has a list of certified IMTOs that can successfully help you deliver funds to your loved ones back home. What are IMTOs? IMTOs are International Money Transfer Operators that are licenced by

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10 Weakest Currencies in Africa Against The USD in 2024

Forex

The U.S. Dollar is a global currency and the most widely used in the world, particularly for international trade. Sao Tome & Principe Dobra (STD), Sierra Leonean Leone (SLL), Guinean Franc (GNF), Malagasy Ariary, and Ugandan Shilling are the five weakest currencies in Africa as of February 1, 2024. Here is what the exchange rate is like between the USD

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4 Reasons Why Kuwaiti Dinar Is More Valuable Than US Dollar

Forex

The US Dollar might be the most traded currency in the World, but Kuwaiti Dinar is stronger than USD because it is a major exporter of oil, good utilisation of its oil revenue, is tax-free, and by pegging its exchange rate at a high level. The value of the Kuwaiti Dinar which was first issued

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Is Dubai Currency Higher Than Naira?

Forex

Over time, we’ve heard Nigerians asking, “Is the Emirate Dirham higher than the Nigerian Naira?” They are mostly those who are seeking greener pastures in the Arabian country. Their curiosity is centred around the Dirham to Naira exchange rate when it’s ripe for them to send money back home to their loved ones. If you

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5 Things to Watch in Dollar To Naira This Week December 14, 2020

Forex

Dollar to Naira Exchange Rate this week Monday, December 14, 2020, to Friday, December 18, 2020, is going to be interesting and here are the five things that could trigger a slight spike in the value of US dollar against the Nigerian Naira this week. Last week between Monday, December 7 to Friday, December 11,

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40 Most Valuable Currencies In The World

Forex

Ever wondered about the strongest currencies in the world? If you think that the United States Dollar (USD) or the Great British Pound (GBP) or the Euro is the strongest, take a few minutes to check this list. According to the United Nations (UN) there are currently 180 currencies that are used in 195 countries

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Parallel Market Is Shallow Godwin Emefiele

Forex

Governor of Nigeria’s apex bank Godwin Emefiele has said that the parallel market is shallow and illegal, patronise by those who engage in illicit transactions and for “corruption purposes” He stated this at the end of the last 2020 Monetary Policy Committee (MPC) meeting, in Abuja. He said it is unfair to use the parallel market rate

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Parallel Market: CBN Governor Got It Wrong On Foreign Exchange

Forex

I watched the governor of the Central Bank of Nigeria (CBN) Godwin Emefiele speak on the activities of speculators on the foreign exchange on TV, he looked and sounded helpless. I sympathise with him because some of the measures put in place by the apex bank are not producing the desired impact at stabilising forex.

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Nigeria’s Foreign Exchange Falls To $35.63bn, Lowest In 2 Months

Forex

Nigeria’s foreign exchange reserves have fallen to $35.63 billion, should investors be worried? The latest from the Central Bank of Nigeria (CBN) has shown Nigeria’s FX has declined, indicating the lowest level since August 2020. Nigeria’s reserves have not been impressive since the outbreak of COVID-19 pandemic. In October 28, it declined to $35.69bn from $35.74bn

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Forex

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