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Nigerian banks delay loan repayments due to dollar shortage

Fri Mar 4, 2016/Reuters By Chijioke Ohuocha LAGOS (Reuters) – Nigeria’s central bank has tightened restrictions on the flow of dollars to domestic lenders, forcing them to delay hard currency… Read more »

Naira gains 6%, sells for 310 against dollar

March 3, 2016 By Oyetunji Abioye The naira gained six per cent against the United States dollar at the parallel market on Wednesday, closing at 310 against the greenback, foreign… Read more »

Global industry leaders to explore China-OIC joint investment opportunities at groundbreaking forum

March 2, 2016/ICD Find out what investment options are available to Chinese investors in key OIC markets in Africa, Asia and the Middle East China’s meteoric economic rise and the… Read more »

SimbaPay expands Africa Remittance Service to more EU Countries

February 29, 2016/SimbaPay/APO Africans living in these EU countries will now be able to send money back home instantly and free of charge SimbaPay (, a leading digital money transfer… Read more »

Naira fall: Used vehicle prices soar, sales drop

February 29, 2016/Punch The continued depreciation of the naira against the world’s major currencies is hitting hard on the Nigerian economy, with the importation and patronage of used vehicles, popularly… Read more »

CBN Clarifies on Accounts with BVN Related Issues

February 25, 2015/CBN You will recall the CBN issued a circular stipulating that any bank customer without the BVN would be deemed to have inadequate KYC, effective November 1, 2015…. Read more »

Naira Slumps 20.69%, Trades N350 to Dollar

By InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian naira on Thursday slumped 20.69 percent on Thursday following gains recorded earlier in the week reversing to trade N350 to a dollar, according to Cordros… Read more »

Naira now 300/dollar as forex supply slows

February 25, 2016/Punch By Oyetunji Abioye The naira rose further on Wednesday against the United States dollar at the parallel market to 300 from 310 on Tuesday. The local currency,… Read more »

Naira rises to 375 as dollar demand drops

February 23, 2016/Punch The naira rose to 375 against the dollar at the parallel market on Monday as the demand for the greenback began to drop. The demand for the… Read more »

Naira Trades 400 on Black Market against Dollar Sets New Record Low

By InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian naira on Thursday traded at 400 against the dollar, according to a section of Bureau De Change Operators compared to 385 traded Wednesday’s session; thereby… Read more »