The Federal Government through the Central Bank of Nigeria, has raised the exchange rate for cargo clearance from N783/$ to N952/$. This is coming barely three weeks after the rate was increased from N757/$ to N783/$. The PUNCH reported in November, that the exchange rate for cargo clearance ...

Collins Nweze ith over $2.5 billion foreign exchange demand backlog yet to be cleared at the official window and $4 billon at the parallel market, dollar scarcity has entered a disturbing phase in Nigeria’s exchange rate management system. The naira, which exchanges at N440/$1 and N758/$1 in the ...