Naira rate convergence is getting stronger, and the numbers are talking loud this week. The naira closed Friday at N1,373.25/$ in the official foreign exchange market. That is a 0.16 per cent appreciation against the dollar. Meanwhile, Nigeria’s external reserves rose by 0.57 per cent to $49.26 billion. That is real money backing the naira’s…
The Central Bank of Nigeria has published a list of the international money transfer operators (IMTOs) approved for diaspora remittances. The bank had earlier introduced a “Naira 4 Dollar Scheme”, an incentive that pays naira to senders and recipients of international money transfers. The incentive will see recipients of diaspora remittances paid N5 for every $1 received…
The Central Bank of Nigeria has introduced new charges for customers using the Unstructured Supplementary Service Data services. The apex bank said effective Tuesday, customers will pay a flat fee of N6.98 per transaction every time they use USSD services. It said the new charges as part of the agreement reached when banks and telecommunication…
