Tag Archives: Forex

Stakeholders in aviation have thrown their weight behind the federal government’s unification of the forex on the premise that the decision will help improve the sector and erase the undue advantage few entrepreneurs have over others. They also stated that through the development the remittances and foreign direct investments, particularly …

The Dangote Group has disclosed that it would soon stop accessing foreign exchange (forex) from the Central Bank of Nigeria (CBN). The conglomerate has also revealed that it would expand its operations into the steel sector. Group Managing Director, Dangote Group, Mr. Olakunle Alake, made this disclosure during a panel …

Marketers of Liquefied Petroleum Gas, popularly called cooking gas, on Monday said the cost of LPG had continued to increase on a weekly basis due to the fall of the naira against the United States dollar and the rise in global crude oil prices. Speaking under the aegis of the …

Bakers under the aegis of the Premium Bread-Makers Association of Nigeria have said a harsh business environment triggered by rising energy costs and increasing forex rates has caused some of its members across the country to shut down their business operations. Speaking in an exclusive interview with The PUNCH, PBAN President, Emmanuel …

Despite the increasing awareness and reforms in the Bureau De Change (BDC) sub-sector, a significant number of operators are below the requisite rules guiding their activities, the Financial Stability Report of the Central Bank of Nigeria (CBN) for 2018, has noted. In a target examination of 100 selected BDCs conducted …

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has briefed President Muhammadu Buhari on the stability in the Foreign Exchange market and other activities of the apex bank. The News Agency of Nigeria said Mr. Emefiele, who spoke to State House correspondents after a closed-door meeting with …

The Central Bank of Nigeria (CBN) resumes this week’s foreign exchange market intervention today with a disbursement of $240 million. Of the sum, $90 million is for invisibles – business/personal travel allowances, medical, school fees, among others, while $150 million goes to interbank wholesale auction window targeted at real sector …

  The Central Bank of Nigeria has approved a Special Secondary Market Intervention Retail Sales for airlines operating in the country to enable them to access foreign exchange. The Deputy Director, Press and Public Affairs, Ministry of Transportation, Mr. James Odaudu, announced the plan in a statement in Abuja on …

The CBN Governor Mr. Godwin Emefiele, Weekend, had a chat with members of Nigeria Newspaper Proprietors Association of Nigeria NPAN. He spoke on efforts being made by government, monetary and fiscal policy authorities to revive the economy. Here are excepts. Nigeria is in recession, the first in decades or few …

The Central Bank of Nigeria, CBN, yesterday, ordered Authorised Dealers (banks) to allocate 60 per cent of their total Foreign Exchange, forex purchases from all sources (interbank inclusive) to manufacturers and 40 per cent to other users for the purpose of trade and other obligations. CBN Governor, Mr Godwin Emefiele …