Tag: foreign exchange
CBN resolves outstanding FX backlog, as external reserves jump to $34.11bn
According to the CBN, it employed Deloitte Consulting, an independent auditing firm, to meticulously assess the transactions, ensuring that only legitimate…
‘Why Naira regained strength at Foreign Exchange market’
Gwadabe urged the management of CBN to continue to make clarifications and implement some of the association’s recommendations in charting…
Naira sinks further against dollar, pounds
While the value was stable on the official window at N409.51-N410.50, it continues to be blown apart in the black…
CBN says there’s no foreign exchange manipulation
The Central Bank of Nigeria (CBN) on Monday denied involvement in foreign exchange manipulation as alleged in one of the…
CBN defends stance on foreign exchange restriction on 42 items
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Tuesday said the bank’s policy to restrict importers of…
CBN deputy governor nominee calls for Forex sources diversification
Mrs Aisha Ahmad, a nominee for deputy governorship of Central Bank of Nigeria (CBN) on Monday advocated non-oil exports-boosting policies,…
Apex bank injects fresh $210m into foreign exchange market
The Central Bank of Nigeria (CBN) has injected another 210 million dollars into the inter-bank Foreign Exchange Market to meet…
Nigeria’s FX window sees $3.8 bln traded since April 24 – traders
Nigeria's currency window for investors and exporters has traded around $3.83 billion since it was established on April 24, traders…
CBN reinstates Keystone Bank, others to Foreign Exchange Market
Following the suspension of fourteen commercial banks from the FOREX market and the re-reinstatement of some banks based on provision…
Normalcy returning to foreign exchange market – LCCI
The Lagos Chamber of Commerce and Industry (LCCI) says the establishment of separate window for investors and exporters in the…
CBN shortens Foreign Exchange settlement period as naira weakens
Nigeria's central bank plans to sell shorter-dated dollar forwards to inject liquidity into the official market and try to support…
Forex blamed for cooking gas price hike
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has blamed foreign exchange scarcity for the current high price of…
Fuel import consumes 30% of forex, says Finance Minister
The Minister of Finance, Mrs Kemi Adeosun, on Friday said that 30 percent of the country’s demand for foreign exchange…
2016 Hajj: FG has not given forex waiver- NAHCON
The National Hajj Commission of Nigeria (NAHCON) says the Federal Government has not given foreign exchange waiver to Nigerian pilgrims…
CBN directs banks to sell forex to BDCs
The Central Bank of Nigeria (CBN) has directed agent banks to approved international money transfer operators to sell foreign currency…
Why Nigeria is in foreign exchange crisis – Segun Agbaje
The Managing Director, Guarantee Trust Bank Plc (GTB), Mr Segun Agbaje, has stated that the decline in oil price at…
Foreign Exchange Crisis: MoneyGram ex-country boss woos Nigerian Diaspora
MoneyGram ex-country director, Mrs. Joke Giwa, has called for collaboration between the Nigerian government and Nigerians in Diaspora so as…
Lagarde to National Assembly: I do not support forex restriction
International Monetary Fund chief Christine Lagarde told Nigerian lawmakers on Wednesday the IMF does not support foreign exchange restrictions, a…
Foreign Exchange: We are aware of your difficulties – Buhari
President Muhammadu Buhari has sympathised with Nigerians over the current hardship experienced in accessing foreign currency for their different transactions.…
Nigerian Naira On The Ropes In Black Market
The Nigerian naira could weaken in the parallel market next week after the central bank restricted access to foreign exchange…
DMO advises Nigerians to leverage on growing foreign reserve
Dr Abraham Nwankwo, Director-General, Debt Management Office (DMO), has urged Nigerian producers to use the leverage provided by the Federal…
‘We’ve Saved Nigeria Substantial Forex’
The Director-General, Nigeria French Language Village, Badagry, Lagos, Professor Samuel Olabanji Aje has said that the language centre has helped…