Forex Turnover In I&E Rises By 78% To $2.5bn   The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose by 78.5 per cent, month-on-month (MoM) to $2.5 billion in May 2023...

Trapped Funds: Foreign Airlines Plan Meeting With Fed Govt   The Switzerland-based global airline body, International Air Transport Association (IATA) on Sunday warned that rapidly rising levels of blocked funds were a threat to airline connectivity in Nigeria and some affected...

CBN Reveals Earnings From Electricity Export Drop By 27%   Nigeria’s electricity export crashed by $58.1m in one year amid grid collapse. Data from the Central Bank of Nigeria showed that the value of Nigeria’s electricity export was $213.66m in 2021 but...

Fuel Importation: Marketers Demand Equal Access To Forex   Oil marketers have projected that the ex-depot price of Premium Motor Spirit, popularly called petrol, would hit N515/litre once they source foreign exchange rate at the parallel market for the importation of...

NNPCL Ending Crude Oil Swap Contracts - Kyari   The National Petroleum Company Limited (NNPCL) has said it is winding down crude swap contracts with traders and will pay cash for petrol imports. The Group Chief Executive Officer of NNPCL, Mele Kyari,...

Banks Begin Collection Of Tax Certificate On Forex Requests   Commercial banks across Nigeria have announced that all Form A and Forex requests must include a valid copy of the applicant’s Tax Clearance Certificate (TCC) alongside other required documents on the...