Forex: CBN Asks Exporters To Repatriate Proceeds The Central Bank Governor, Godwin Emefiele, has urged exporters to repatriate export proceeds in order to boost foreign exchange inflow in the country. He spoke while making a presentation at Zenith’s Bank’s 2021 export seminar on Tuesday. Emefiele...

CBN To Place Wheat, Sugar On Forex Restriction List     The Central Bank of Nigeria (CBN) is working to include sugar and wheat on the list of commodities that will be banned accessing foreign exchange (FX). CBN Governor Godwin Emefiele made this disclosure on Thursday in Awe,...

Experts Blame Forex, Insecurity, Low Production As Inflation Hits 18.17%       Nigeria’s rate of inflation, which has maintained a continuous increase for more than a year, rose again in March, hitting a high of 18.17 per cent, according to data released on Thursday by the National...

FOREX: Turnover In I&E Window Drops By 82% To $3.7bn       The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange (FOREX) market fell year-on-year (YoY) to $3.7 billion in the first quarter of this year (Q1’21) from $20.49...

Dollar Remittances: CBN To Ban Defaulting Exporters         Banks’ Chief Executive Officers (CEOs) have been asked to compile and submit to the Central Bank of Nigeria (CBN) the names of exporters with unremitted foreign exchange (forex) proceeds. The submission is to prepare the ground for the expulsion...

Net Forex Inflow Drops By 26% To $3.87bn       Net foreign exchange (forex) inflow into the economy fell by 26 percent, month-on-month to $3.87 billion in October from $5.23 billion in September last year. The decline was driven by 11.9 percent reduction in foreign exchange inflow caused...