By Chris Kay/ Bloomberg The naira weakened, snapping three days of gains against the dollar as crude, Nigeria’s key export, retreated in New York and London. The currency of Africa’s biggest oil producer depreciated 0.1 percent to 160.84 per dollar as of 2:57 p.m. on the interbank market in Lagos, […]
Tag: Central Bank of Nigeria
CBN commences revision of bank charges
The Central Bank of Nigeria has commenced the revision of charges in the banking industry in order to align its tariff regime with current economic realities. A circular by the bank on Sunday stated, “The CBN is currently reviewing the extant guide to bank charges, which has been in use […]
Falling naira: CBN sold $2.75bn in June
In a bid to save the naira from continuous decline, the Central Bank of Nigeria sold a total of $2.75bn at the Wholesale Dutch Auction System in the month of June. Information gathered by our correspondent on the CBN website showed that the external reserves dropped marginally to $36.6bn in […]
