CBN's Policy on 43 Items Will Collapse Many Industries, MAN tells FG .....it will lead to unemployment, insecurity, others The federal government has been advised to urgently reverse its decision to remove ban on 43 items on foreign exchange restriction by the Central Bank of Nigeria,...

Naira Hits All-time Low, Exchanges for 1,100 to a Dollar The Naira has fallen to an all-time low as it now exchanges for N1,100 per dollar in the black market. This is according to information obtained on Wednesday morning, from traders in the parallel market . The...

Dollar Supply Jumps After CBN Lifts Ban on Forex Sale   Dollar supply at the foreign exchange (forex) market reportedly soared after the Central Bank of Nigeria (CBN) scrapped restrictions on buying foreign currency required to import 43 items, in a bid to stem the local...

Job Losses, Factory Shutdown Loom as Naira Falls to 1,025/$ The naira fell further on Tuesday as it exchanged for the dollar at the parallel market between 1,005/$ and 1,025/$. Owners of small-scale enterprises, Nigeria Employers’ Consultative Association, and manufacturers has expressed concern about the falling...

Forex Rate: Manufacturers, Importers, Others Bemoan High Costs   Importers, clearing agents and manufactures have cried out over the high foreign exchange (forex) rate in the country. It was in June, this year that the Central Bank of Nigeria (CBN) unified exchange rate windows to maintain Naira...

Manufacturers Incur Heavy Losses As Inflation, Forex Crisis Get Worse   In apparent reflection of the depreciation in the value of the Naira coupled with the sustained inflationary pressure, the cost of raw material input for consumer goods companies rose by 18.5 percent in the first...