Dollar Remittances: CBN To Ban Defaulting Exporters
Banks’ Chief Executive Officers (CEOs) have been asked to compile and submit to the Central Bank of Nigeria (CBN) the names of exporters with unremitted foreign exchange (forex) proceeds.
The submission is to prepare the ground for the expulsion...
Parallel Market Responds To Devaluation, As Dollar Trades At N500
The parallel market has responded to the fresh devaluation of the naira amidst growing foreign exchange illiquidity. The local currency weakened to N500/$ at the black market at the weekend.
The Central Bank of Nigeria (CBN)...
