IATA

FG clears $831m of trapped airline funds – IATA

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CBN 1

The International Air Transport Association (IATA) has confirmed that the Central Bank of Nigeria (CBN) has successfully cleared $831 million of foreign airlines’ trapped funds from June last year to date. This significant development has reduced the global total of such trapped funds to approximately $1.8 billion. At its peak in June 2023, Nigeria had … Read more

Naira depreciates to N1,510/$ in parallel market, appreciates at official window

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Naira dollar

The naira depreciated to N1,510 per dollar in the parallel section of the foreign exchange (FX) market on Monday, marking a 1.34 percent decline from the N1,490/$ rate observed on May 31. Currency traders, commonly known as bureau de change (BDC) operators, reported buying the dollar at N1,490 and selling it at N1,510, resulting in … Read more