CBN devalues Naira, restores uniform exchange rate of N380/USD
The Central Bank of Nigeria has made an alteration in the exchange rate of dollar to Naira as confirmed in a communique to all banks and Bureau De Change on Friday, March 20.
The apex bank on Friday sold dollars to deposit money banks at the rate of N380 to one dollar signaling the official return of a single exchange rate regime in the country’s foreign exchange market. The CBN directed banks and Bureau De Change to ensure that the end-user sales of the Dollar should not be more than N380/1USD. The communique was on the disbursement of the proceeds of the International Money Transfer Operator (IMTO). CBN’s communique which backed the highest official exchange rate between the dollar and naira in over two years, came barely a week after the apex bank denied plan to devalue the Naira. Here is it below;
Jadesola O
Hi, I'm Jadesola and if you've been here a while, you'll know that Ekomiami has always existed without a face. That changes now. I founded this platform in Lagos in 2018, originally as a space for entertainment and celebrity news. Over time and across continents my world grew bigger and so did my curiosity. Today, Ekomiami is what it was always quietly becoming: a home for travel, food, arts, and culture, told through the eyes of someone navigating the world from a very particular vantage point. With a background in content and media production. I write and create about the places I go, the food I find, and the experiences that make travel feel like more than a holiday. You'll find me in Bordeaux wine bars, on Albanian coastlines, in English market towns, and at restaurant tables taking notes between courses. The name "Ekomiami", "Lagos to Miami" has always been about movement, ambition, and showing up somewhere new. Seven years in, I'm stepping out from behind it. Welcome to the journey, properly.
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