Forex: CBN Restates Position on Bank Usage of Revaluation Gains
The Central Bank of Nigeria (CBN) has recently restated its position on how banks are allowed to utilize their forex (FX) revaluation gains referencing a previous circular dated September 11, 2023.
The bank stated that FX...
Forex: CBN Restates Position on Bank Usage of Revaluation Gains
The Central Bank of Nigeria (CBN) has recently restated its position on how banks are allowed to utilize their forex (FX) revaluation gains referencing a previous circular dated September 11, 2023.
The bank stated that FX...
EFCC Urges Nigerians To Maintain Patriotism Despite Volatile FOREX Crisis
On Friday, Ola Olukoyede the Chairman of the Economic and Financial Crimes Commission (EFCC), urged Nigerians to show a level of patriotism while in the midst of a volatile foreign exchange rate.
In a statement by...
Egypt Acquires $35 billion UAE Investment Deal
On Friday, Egypt revealed a $35 billion investment deal with the United Arab Emirates (UAE) to develop the Ras El Hikma peninsula.
This signals a new era of economic revitalization and foreign investment attraction that could serve as a...
Naira Plunges at NAFEM, Parallel Market
The Naira value weakened by 1.9% or N28.73 against the United States Dollar on Thursday, February 22 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) despite unconventional approaches to ease the free fall of the currency. It closed at...
Utomi: CBN ‘missteps’ Contributed To Naira Depreciation
According to Pat Utomi, a political economist, ‘missteps’ made by the Central Bank of Nigeria (CBN) contributed to the incessant fall of the naira.
Utomi stated this in an interview on Channels Television’s Sunrise Daily on Friday.
Recall that the...
