NAFEM Window and BDC (USD, GBP, CAD, EURO & YUAN) rates – August 29, 2025
NAFEM Window
Business and Economy
Holcim finalizes Nigeria exit, sells Lafarge stake to Chinese buyer
Holcim has officially exited Nigeria after completing the sale of its 83.81% stake in Lafarge Africa Plc to Huaxin Cement in a $1 billion deal.
Nigeria’s monthly diaspora remittances rise to $600m, says CBN
Nigeria’s monthly diaspora remittances have tripled to $600 million, with the CBN projecting $1 billion by 2026.
US scraps tariff waiver for small international packages
The United States has permanently ended its $800 “de minimis” tariff exemption for small international packages, instituting flat duties or standard tariffs that are expected to raise costs, delay deliveries, and disrupt small business operations.
FG grants amnesty to visa overstayers in five-month expired-visa initiative
Nigeria’s Expired Visa Initiative offers a temporary, penalty-free window from May 1 to September 30, 2025, for foreign nationals with expired immigration status to either regularise their stay or leave the country voluntarily.
“Burden on Nigerians becoming legendary,” Obi slams Tinubu govt on passport charges
Peter Obi has faulted the Tinubu administration for raising passport fees above Nigeria’s minimum wage, describing the policy as burdensome and disconnected from citizens’ struggles.
Western Union adds WhatsApp channel for global transfers
Customers can send money to more than 200 countries and territories and exchange dollars directly from WhatsApp.
CBN orders Banks to implement ISO 20022, begins compliance checks october 20
The CBN has ordered banks and payment service providers to adopt the ISO 20022 standard and geo-tag payment terminals by October 31, 2025, with compliance checks beginning October 20.
Spotify brings back chat feature for free and premium users
Spotify is reintroducing messaging to boost engagement and compete with music streaming rivals.
Americans’ confidence in U.S. economy dips again in August
U.S. consumer confidence dipped in August as job market concerns and high costs continued to weigh on households.