Buhari Orders CBN To Stop Forex For Food Importation   President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to stop providing foreign exchange for importation of food into the country in a bid to ensure Nigeria attains food security. A statement yesterday by a...

Don’t Restrict Forex On Imported Milk - NECA The Nigeria Employers’ Consultative Association has warned the Central Bank of Nigeria to suspend the planned foreign exchange restriction for milk importation. This was contained in a statement issued by the association in Lagos on Thursday. The apex bank...

CBN Sold $4.47bn Forex To Authorised Dealers In 2months   The Central Bank of Nigeria sold $4.47bn forex to authorised dealers between April and May. The CBN’s May report on foreign exchange market developments stated that, “The bank continued to intervene in the foreign exchange market to...

CBN Hasn’t Allocated Forex To Rice Importers Since 2015, RIFAN Says   The Rice Farmers Association of Nigeria (RIFAN) has said since 2015, the Central Bank of Nigeria (CBN) has not allocated any money to fund rice import even as it said at least N1.2bn worth...

CBN Predicts Stability In FX As External Reserves Hit $43bn The Central Bank of Nigeria (CBN) Thursday said it expected further stability in the foreign exchange market in 2019, banking on the decision of the US Federal Reserve not to hike interest rate in the...

On Forex,CBN Spends $11bn This Year The Central Bank of Nigeria (CBN) has spent $11bn in foreign exchange interventions in the various segments of the interbank market in from January to December 2018. The interventions, as released by the CBN from time to time and computed...