Forex Turnover In I&E Drops By 35% To $13.11bn In H1, 2023   The foreign exchange segment of the economy was marked by downward trend in the first half of the year, H1’23 reflected in the 35 per cent, year-on-year (YoY) decline in the volume of...

FOREX: Importers Groan As Customs Raise Exchange Rate To N589.45/$1   From today, June 26, 2023, importers will pay more import duty for the clearance of their cargoes at the nation’s seaports as the Central Bank of Nigeria (CBN) has increased the official exchange rate used...

Airfare Hike Due To Forex, Aviation Fuel Scarcity - Operators   The Airline Operators of Nigeria has explained that foreign exchange and aviation fuel shortages in the country were responsible for the recent hike in airfares. The spokesperson of AON, Prof Obiora Okonkwo, disclosed this to our...

Forex Inflow Falls by $3bn in Q4 – Report The Central Bank of Nigeria latest figure shows that net foreign exchange inflow into the economy fell by $2.6bn in the fourth quarter of 2022, The banking regulator disclosed this in its fourth-quarter economic report. It stated, “Net...

Forex: Turnover In I&E Declines By 46% To $1.4bn   The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market fell by 46 per cent, month-on-month (MoM) to $1.4 billion in April 2023 from $2.6 billion in March. This...

Emefiele Says Non-Oil Exporters Fetched Nigeria N2.1trn Forex This Year   The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said $4.987 billion (about N2.1 trillion) has been repatriated to Nigeria by non-oil exporters so far in 2022. Emefiele, who spoke at the second...