'CBN Still Short Of Forex To Clear Backlog'   Fitch, one of the leading global credit rating agencies, has said that the Central Bank of Nigeria (CBN) still lacks sufficient foreign exchange (forex) to clear the backlog of demand in the country. Director of Middle East and...

Naira Slumps To N1,340/$1 At Parallel Market, FX Shortages Persist   Hopes of local and international businesses getting foreign exchange suffered a set-back as the naira slumped to fresh lows against the US dollar at the official and parallel markets at the weekend. This comes as...

Dangote Refineries To Supply 150,000 IPMAN Stations   The Dangote Petroleum Refinery is to supply fuel to about 150,000 retail outlets operated by the Independent Petroleum Marketers Association of Nigeria following a meeting between the management of the refinery and executives of IPMAN. Last week Monday, it...

CBN Set to Hold First MPC Meeting of 2024 The Central Bank of Nigeria (CBN) has held a two-day strategic session for members of the Monetary Policy Committee (MPC), preparatory to their first meeting under the tenure of Mr. Olayemi Cardoso as Governor. The meeting is...

ICPC, FIRS Strike Partnership to Tackle Financial Tax Frauds The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Federal Inland Revenue Services (FIRS) have opened talks on three crucial areas the two agencies could explore to mitigate financial tax frauds and other...

Forex Crisis: In Six Months, Foreign Airlines Repatriate N795.5bn From Nigeria Foreign airlines repatriated N795.5 billion from Nigeria in six months, according to data from the Central Bank of Nigeria. Data from Nigeria’s apex bank Balance of Payment compilation disclosed that airlines withdrew $1.76 billion (converted...