The Naira depreciated in exchange value at the black market in the early hours of Monday, trading at N731/$1, representing 0.14% drop from N730/$1 it exchanged for last Friday. Market information also indicated that the Naira also slightly depreciated by 0.29% at the cryptocurrency peer-to-peer (P2P) FX market, to trade at N731.94/$1 compared to the N729.8/$1 […]
Tag: Bureaux de Change (BDCs)
Calls For Emefiele’s Resignation Spurred By Forex Rent-Seeking Interests – CBN
The Central Bank of Nigeria (CBN) has described calls for the resignation of the Governor, Mr Godwin Emefiele, over issues relating to the exchange rate of the Naira as nothing but frustration cries by those who have and are still benefitting from rent-seeking practices in the parallel forex market. Specifically, the apex bank linked the […]