CBN Moves Against Violators Of New Forex Policy       The Central Bank of Nigeria (CBN) yesterday directed all banks to henceforth publish on their websites the names and Bank Verification Numbers (BVN) of unscrupulous customers who indulged in sharp practices to circumvent its new foreign exchange...

CBN Threatens Prosecution Of Forex Policy Defaulters       Banks have warned that defaulters of the new foreign exchange policy may face criminal prosecution by the Central Bank of Nigeria. The banks in emails to their customers said that defaulters of the new FX foreign exchange policy may...

The Central Bank of Nigeria’s (CBN) current forex policy is aimed at ensuring strict monetary policy that will help check inflation, reduce unemployment and ensure economic growth, a coalition of civil societies has said. A statement by the president of the Coalition of Civil Societies...

The Central Bank of Nigeria has stated that no amount of criticism and blackmail from “self-centred individuals” would make it change its current flexible foreign exchange rate policy. The apex bank said this in a statement titled: ‘Nigeria’s current economic situation: Our case’, signed by...

The Nigeria Economic Summit Group has partnered the British High Commission and the United Kingdom’s Department for International Development to host a public dialogue on the Central Bank of Nigeria’s foreign exchange policy. The forum, which was a follow-up to an earlier dialogue held in...

International rating agency, Fitch, in a report issued recently noted that the backlog of unmet dollar demand has built up and any inability to clear significant portion of that backlog early in the transition would hinder the effectiveness of the new framework”. History will be...