Visblog

PayPal has officially marked a historic return to Nigeria, a move expected to significantly enhance cross-border payments, support digital commerce, and strengthen financial inclusion. The development comes amid renewed optimism in Nigeria’s foreign exchange market, as the naira recorded its strongest appreciation against the United States dollar in two years. According to data released by the Central Bank of Nigeria (CBN), the naira strengthened to ₦1,396.99 per dollar at the official foreign exchange market on Thursday. This marks its best performance since the introduction of the Electronic Foreign Exchange Matching System (EFEMS) . The local currency gained ₦3.49 against the dollar on a day-to-day basis, reflecting increased market confidence and improved liquidity. At the parallel market, commonly referred to as the black market, the naira also showed positive momentum. It appreciated by ₦5 , closing at ₦1,480 per dollar , compared to ₦1,485 recorded the previous day. Reports i...