MAN Seeks CBN Intervention as Forex Dispute Worsens   The Manufacturers Association of Nigeria (MAN) has decried what it described as “unwholesome treatment” of its members by some commercial banks over unmet foreign exchange forward obligations, calling on the Central Bank of Nigeria to intervene as...

Forex Crisis Halts Completion of Four Inland Dry Ports Projects   Maritime operators have blamed the non-completion of four out of the seven approved inland dry ports on the foreign exchange crisis in Nigeria and other issues. The immediate past Managing Director of the Kaduna Inland Dry...

Maritime Workers to FG: Tackle Forex Crisis to Boost Importation   As the country marks its 64th anniversary today (Tuesday), maritime operators have urged the Federal Government to tackle the issue of fluctuating exchange rates to boost importation. The operators who spoke in Lagos on Monday, however,...

We Lost N1.5trn To FX Crisis In Six Months – MAN The Manufacturers Association of Nigeria (MAN) has said that its members have lost at least N1.5tn in the last six months to forex-related transactions. The Director-General of MAN, Segun Ajayi-Kadir, made the disclosure in an...

Forex Crisis: Reps Seek 2024 Budget Review The House of Representatives has called for a review of the 2024 budget projections owing to the free fall of the naira in the past few months. Rising from plenary session on Thursday, the lawmakers adopted a motion on...

FX crisis: Ex-CBN Deputy Governor Proposes $30bn IMF Stabilisation Fund Former deputy governor of the Central Bank of Nigeria (CBN) Kingsley Moghalu has proposed a $20-30 billion International Monetary Fund (IMF) stabilisation facility to solve the lingering foreign exchange (FX) crisis. “To get out of Nigeria’s...