Banks Ration Forex Sales As Scarcity Deepens   Banks have begun to reduce approval requests for Personal Travel Allowance and Business Travel Allowance to legitimate users. The legitimate users will be able to access forex only once in two quarters. Before this new development, the banks had been...

Multiple Exchange Rates Affecting FDIs In Nigeria, Says NESG   The Nigerian Economic Summit Group (NESG) has identified multiple exchange rates as one of the major limitations to attracting tangible Foreign Direct Investments (FDIs) into Nigeria. The disclosure was part of a communique from the meeting of...

FOREX: CBN Allays Fears of Nigerians   ABUJA – In the face of rising demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has advised Nigerians to resist the urge of succumbing to the speculative activities of some...

CBN Urges Nigerians to Shun Speculative Activities - Forex The Central Bank of Nigeria (CBN), has advised Nigerians not to succumb to speculative activities of some players in the foreign exchange market. Mr Osita Nwanisobi, CBN’s Director, Corporate Communications CBN, gave the advice in a statement...

Inflation, Forex, Debt Killing Economy - LCCI   The Lagos Chamber of Commerce and Industry has warned the Federal Government to find urgent solutions to the issues of Nigeria’s growing debt burden, inflationary pressure as well as the worsening foreign exchange crisis in order to save...

CBN, Importers, Exporters Dominate I&E FX Window - Report   The forex market is segmented with multiple exchange rates, with the Investors and Exporters window (I&E FX) window as the most important rate. In a report, Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, said the Central...