CBN Bans Forex For Maize Importation
The Central Bank of Nigeria has directed foreign exchange dealers to stop processing ‘Forms M’ for the importation of maize in order to boost local production.
The CBN stated this in a circular on Monday to all authorised dealers and...
Naira To Depreciate Further As Demand Gap Widens
The Central Bank of Nigeria (CBN) may be forced to further retract its defence and depreciate the naira as the apex bank increased the bid price for foreign exchange at its Secondary Market Intervention Sales (SMIS) window...
Naira Gains Against Dollar As Forex Rise By 242%
Forex turnover at the Investor and Exporters (I&E) window recorded a huge increase on Monday, June 29, 2020, as it rose by 242%, a significant increase from what was recorded on Friday, June 26, 2020, in the foreign exchange market. This is according...
Exchange Rate Unification'll Promote Transparency In Forex Market - Gwadabe
Plans by the Federal Government to unify the naira exchange rates will bring out improved resource allocation, better competition and transparency in the foreign exchange market, President, Association of bureaux De Change Operators of Nigeria...
Speculators’ll Lose Billions On Forex Sales Resumption, Says ABCON
The Association of Bureau De Change Operators of Nigeria has said that currency speculators will lose huge funds as the Central Bank of Nigeria plans to resume dollar sales to over 5,000 Bureau De Change operators...
JAIZ Bank Sells FOREX to SMEs
Jaiz Bank Plc, the premier non-interest bank in Nigeria has resumed selling of foreign exchange to operators of Small and Middle Enterprises (SMEs) to open up businesses and boost the nation's economy amidst Covid-19 pandemic.
The stated in a statement...
