Forex Shoots Cooking Gas Above N8,000   The price of 12.5kg of Liquefied Petroleum Gas, popularly called cooking gas, which was sold for N7,000 about a week ago, has increased to between N8,000 and N8,200, amidst various concerns by marketers and producers of the commodity. Of the...

'Purchase Price Inflation Rises On Forex Challenge'             Unfavourable exchange rate movement exerted pressure on cost, leading to a rise in purchase price inflation. Stanbic IBTC Bank Nigeria disclosed in its Purchasing Managers Index report for the third quarter of 2021. The report however added that private sector...

CBN-Aboki FX Saga: Currency Play and Lessons from Billions TV Show, by Abdulhaleem Ishaq Ringim     While explaining the reason behind the Central Bank of Nigeria’s clampdown on the parallel market exchange rate aggregation and publication website, AbokiFx, the CBN Governor submitted that the CBN’s preliminary...

CBN Warns Against Speculation, Manipulation Of Forex           The Central Bank of Nigeria has warned Nigerians to be wary of the activities of speculators who sought to manipulate the market for unpatriotic reasons. In a statement by the Spokesman of the Central Bank of Nigeria, Mr Osita...

Customers Scam Banks With Fake Visas, Tickets For Forex             The Central Bank of Nigeria has vowed to engage financial crime fighting agencies to pursue fraudsters who have been deceiving the banks with fake documents to buy forex at cheap rates and sell at higher rates...

'Naira’s Depreciation To Persist'       The naira depreciated across the official and parallel markets with many pundits yesterday projecting further depreciation of the nation’s currency. The naira depreciated to as low as N545 per dollar at the weekend but there were projections of further depreciation to some...