Updating your news feed...
NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.
Loading banners
Loading banners...
Naira and Dollar
The naira suffered further setback at the parallel market and Investors and Exporters forex window on Tuesday.
According to figures obtained from Bureau De Change operators, the naira exchanged to the dollar for 473/$ at the parallel market.
It had earlier gained in recent times after it closed the year 2020 at 467/$.
At the I&E window, the naira fell by 0.17 per cent to close at 394/$ on Tuesday.
It reached a low of 401 at the I&E window at the close of 2020.
The Central Bank of Nigeria however maintained the official exchange rate at N379/$ on its website.
The Association of Bureaux De Change Operators of Nigeria recently appealed to the CBN to make BDCs payout agents for diaspora remittances.
The President, ABCON, Alhaji Aminu Gwadabe, said the apex bank should leverage the over 5,000 licensed BDCs across the country to get dollars seamlessly to beneficiaries.
Gwadabe said this would help in providing a more convenient channel for Nigerians in the diaspora to remit funds back to the country to boost economic development.(The Punch)
