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. The Bank also clarified that Nigeria resident’s bank account without the BVN would be operated as “NO CUSTOMER INITIATED DEBIT’’ […]
Money Market
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 daily market update. The update affirmed that as at the time of its report, the naira in the interbank market […]
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, which closed at 391 against the greenback last Thursday, had risen to 375 and 310 on Monday and Tuesday, respectively. […]
