CBN’s Ban On Forex For Import Boosts Interest In Fish, Maize Farming     In furtherance of government’s efforts to drive Nigeria towards food sufficiency, Agribusiness firm, Eatrich Farms, has launched the Green Africa Project (GAP), which involves large-scale maize farming, fish and livestock farming and commercial-scale...

Naira Dips To N472/$ As Forex Scarcity Worsens     The naira on Tuesday traded at N472 to a dollar at the parallel market as foreign exchange scarcity persisted. The exchange rate was N440/$ in the parallel market in June, and operators have continued to demand for the...

Naira Weakens Further Despite CBN’s Intervention     Naira depreciated to new lows across many markets as continuing Central Bank of Nigeria (CBN)’s intervention failed to stem the fall of the Nigerian currency at the official and parallel markets. The naira depreciated against the dollar by 0.3 per...

Forex Uncertainty Worries Businesses As CBN Retains 12.5% Interest Rate     The Central Bank of Nigeria on Monday retained the country’s benchmark interest rate or Monetary Policy Rate at 12.5 per cent. It also held all other monetary policy parameters constant, as the bank stated that its...

Anxiety As Forex Scarcity Hit Banks   Indications are that most deposit money banks (DMBs) operating in the country are practically struggling to meet daily demands of foreign exchange to customers, The Nation has learnt. This is despite the reported weekly cash lodgments of $100million being disbursed...

Naira Crashes To N470/$1 As Currency Uncertainty Worsens   The exchange rate at the parallel market fell to another new 3-year low closing at N470/$1 on Wednesday, July 15, 2020. However, on the officially recognized NAFEX market, the forex turnover rose by 44.9% while the exchange rate depreciated closing at N386.50/$1. Parallel Market: At the black market where forex is traded...