foreign exchange Archives — Page 2 of 3 — National Accord Newspaper

Bode July 20, 2024

The Central Bank of Nigeria (CBN) has commenced regular sale of foreign exchange (fx) through authorised dealer banks and licensed Bureaux De Change (BDCs) to bridge gap. The Director, Financial Markets Department, CBN, Ms Omolara Duke, said this in a statement on Friday in Abuja. Duke said that...

Nigerian News

Forex crisis: Court permits EFCC to freeze 1, 146 individuals, companies accounts

Bode April 29, 2024

A Federal High Court, Abuja has granted an interim order sought by the Economic and Financial Crimes Commission (EFCC) to freeze at least 1, 146 bank accounts belonging to individuals and companies over allegations bordering on unauthorised dealing in foreign exchange, among others. The News Agency of Nigeria...

BUSINESS

CBN warns bank customers against using Forex as collateral for naira loans

Bode April 8, 2024

By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has warned bank customers to desist from using foreign currency as collateral for Naira loans. The CBN Acting Director, Banking Supervision Department, Adetona Adedeji, gave the warning in a statement on Monday, in Abuja. Adedeji said that...

BUSINESS

Reduction in forex has no impact on petroleum pump price – Expert

Bode March 26, 2024

An Oil and Gas expert, Mr Emmanuel Iheanacho, has said the improvement observed in the value of the naira, would not bring about an automatic reduction of petroleum pump price. Iheanacho, Chairman, Integrated Oil and Gas Ltd, said in an interview with the News Agency of Nigeria (NAN)...

BUSINESS

CBN reports increased forex inflow as remittances quadruple to $1.3bn

Bode March 8, 2024

The Central Bank of Nigeria (CBN) has reported a significant increase in foreign exchange inflow into the economy in February. Acting Director, Corporate Communications Department of the CBN, Mrs Hakama Sidi, said this in a statement on Friday in Abuja. Sidi said that the upsurge in forex...

BUSINESS

Monetary policy reforms will check inflationary tide, forex distortions – CBN

Bode February 28, 2024

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 The CBN Governor, Yemi Cardoso said this on Tuesday in Abuja, while presenting the communique from the apex bank’s Monetary Policy Committee (MPC) meeting....

Nigerian News

CBN mandates forex sellers above $10,000 to declare sources

Bode February 24, 2024

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 to declare their forex sources. Director, Financial Policy and Regulation Department of the CBN, Haruna Mustapha, said this in a revised regulatory framework to...

Nigerian News

Forex: FG to raise $10bn for increased liquidity, Naira stability

Bode February 20, 2024

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 the economy. President Bola Tinubu made this known at the inauguration of the Public Wealth Management Conference organised by the Ministry of Finance Incorporated...

Nigerian News

Forex: ONSA, CBN join forces to crackdown on speculators

Bode February 20, 2024

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 Central Bank of Nigeria (CBN) are joining forces to address challenges impacting the nation’s economic stability. This is contained in a statement by the...

Nigerian News

Tinubu’s policies will stabilise forex, ease living cost for Nigerians – Information Minister

Bode February 3, 2024

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. The Minister of Information and National Orientation, Alhaji Mohammed Idris, stated this on Saturday in Minna during the 2024 Press Week of Niger State...

BUSINESS

CBN relaxes restrictions on foreign exchange rates quoted by IMTOs

Bode February 2, 2024

The Central Bank of Niger , has removed allowable limit of exchange rate quoted by the International Money Transfer Operators (IMTOs). This is according to a circular signed by Dr Hassan Mahmud, the Director, Trade and Exchange Department of the CBN, addressed to IMTOs and the general public....

Nigerian News

CBN pays additional $64 million to clear verified airlines claims

Bode January 30, 2024

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 Director, Corporate Communications, Mrs Hakama Sidi-Ali, said this in a statement on Tuesday. Sidi-Ali said that the apex bank had to fulfil its pledge...

foreign exchange

CBN commences regular foreign exchange sales to bridge demand gap

CBN mandates BDCs to cap forex profit at 1.5%

Forex crisis: Court permits EFCC to freeze 1, 146 individuals, companies accounts

CBN warns bank customers against using Forex as collateral for naira loans

Recent forex stability commendable, says Cardoso

Reduction in forex has no impact on petroleum pump price – Expert

CBN reports increased forex inflow as remittances quadruple to $1.3bn

CBN revokes licenses of 4,173 BDC operators

Monetary policy reforms will check inflationary tide, forex distortions – CBN

CBN approves $20,000 to BDCs to meet demands

CBN mandates forex sellers above $10,000 to declare sources

CBN amends forex rates for Customs duty on importation

Naira free fall worrisome, embarrassing, says expert

Forex: FG to raise $10bn for increased liquidity, Naira stability

Forex: ONSA, CBN join forces to crackdown on speculators

CBN guidelines on Forex will stabilise Naira – NGO

Nigeria Govt pledges to stabilise Forex

Tinubu’s policies will stabilise forex, ease living cost for Nigerians – Information Minister

CBN relaxes restrictions on foreign exchange rates quoted by IMTOs

CBN pays additional $64 million to clear verified airlines claims