Forex crisis: Court permits EFCC to freeze 1, 146 individuals, companies accounts
A Federal High Court, Abuja has granted an interim order sought by the Economic and Financial Crimes Commission (EFCC) to freeze at least 1, […]
foreign exchange
CBN warns bank customers against using Forex as collateral for naira loans
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has warned bank customers to desist from using foreign currency as collateral for […]
Recent forex stability commendable, says Cardoso
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says recent stability achieved in the foreign exchange (forex) market is commendable. Cardoso […]
Reduction in forex has no impact on petroleum pump price – Expert
An Oil and Gas expert, Mr Emmanuel Iheanacho, has said the improvement observed in the value of the naira, would not bring about an […]
CBN reports increased forex inflow as remittances quadruple to $1.3bn
The Central Bank of Nigeria (CBN) has reported a significant increase in foreign exchange inflow into the economy in February. Acting Director, Corporate […]
CBN revokes licenses of 4,173 BDC operators
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN), has announced revocation of operational licences of 4,173 Bureau De Change (BDCs) operators […]
Monetary policy reforms will check inflationary tide, forex distortions – CBN
The Central Bank of Nigeria (CBN) has said the on-going reforms will check rising inflationary trend and address distortions in the foreign exchange market […]
CBN approves $20,000 to BDCs to meet demands
The Central Bank of Nigeria (CBN) on Tuesday approved allocation of 20,000 dollars to all eligible Bureau De Change (BDC) operators across the country […]
CBN mandates forex sellers above $10,000 to declare sources
The Central Bank of Nigeria (CBN has mandated foreign exchange sellers to Bureau De Change (BDC) of the equivalent of 10,000 dollars and above […]
CBN amends forex rates for Customs duty on importation
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN), has reviewed the formula for fixing foreign exchange rates for Customs duty on […]
Naira free fall worrisome, embarrassing, says expert
A financial expert, Dr Chijioke Ekechukwu, has said the continued depreciation of the Naira has become worrisome and embarrassing. Ekechukwu, an economist and a […]
Forex: FG to raise $10bn for increased liquidity, Naira stability
The Federal Government has expressed determination to raise at least 10 billion dollars to increase foreign exchange (forex) liquidity to stabilise the Naira and grow […]
Forex: ONSA, CBN join forces to crackdown on speculators
In a concerted effort to safeguard Nigeria’s foreign exchange market and combat speculative activities, the Office of the National Security Adviser (ONSA) and the […]
CBN guidelines on Forex will stabilise Naira – NGO
The Independent Media and Policy Initiative (IMPI), says the new policies introduced by the Central Bank of Nigeria (CBN) will help stabilise the Naira […]
Nigeria Govt pledges to stabilise Forex
Following recurrent freefall of Naira in the Foreign Exchange (Forex) market, the Federal Government has assured Nigerians that it will implement macroeconomic reforms to […]
Tinubu’s policies will stabilise forex, ease living cost for Nigerians – Information Minister
By EZEKIEL OBI, Abuja – President Bola Tinubu-led administration is committed to implement reforms to curb inflation, ease cost of living and stabilise foreign exchange. […]
CBN relaxes restrictions on foreign exchange rates quoted by IMTOs
The Central Bank of Niger , has removed allowable limit of exchange rate quoted by the International Money Transfer Operators (IMTOs). This is according […]
CBN pays additional $64 million to clear verified airlines claims
The Central Bank of Nigeria (CBN) has concluded the payment of all verified claims by airlines with an additional 64.44 million dollars. CBN’s Acting […]
CBN releases $500m to clear more verified Foreign Exchange liabilities
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) says it has released 500 million dollars to various sectors in its determination to […]
CBN pays $2bn to clear foreign exchange backlog
The Central Bank of Nigeria (CBN) has paid approximately $2 billion across various sectors, including manufacturing, aviation, and petroleum in its bid to clear […]