The Central Bank of Nigeria (CBN) has injected $9.964 billion into the interbank segment of the foreign exchange (forex) market since it commenced its aggressive interventions in February this year. This has helped to ease pressure on Nigeria’s forex market, […]
The Central Bank of Nigeria (CBN) has announced FirstBank the sole authorised dealer for foreign exchange proceeds to licensed Bureau de Change (BDC) operators in Nigeria. The announcement is coming on the heels of the bank’s strengthened money transfer services […]
The Central Bank of Nigeria, CBN, has re-admitted the United Bank for Africa (UBA) Plc into the foreign exchange market. The CBN had on Tuesday suspended UBA alongside eight other banks from participation in the foreign exchange market. The eight others […]
With regard to federal government’s decision of August 4, 2016, instructing Nigerian banks to provide forex to the country’s intending Hajj pilgrims at N197 per Dollar. This follow after the government ordered similar forex reduction for Christian pilgrims going to […]
The Central Bank of Nigeria (CBN) has moved to douse fears of the emergence of a cartel in the new foreign exchange market, declaring the door open to all banks to be Foreign Exchange Primary Dealer (FXPD). The central bank had on Wednesday rolled […]
The International Monetary Fund (IMF), the European Union (EU) delegation to Nigeria and the Lagos Chamber of Commerce & Industry (LCCI), among others, hailed the policy. IMF spokesman Gerry Rice told a weekly news briefing that the Fund wanted to […]
The much awaited forex guideline by the Central Bank of Nigeria has been officially released. Governor of the Central Bank, Godwin Emefiele released the guideline in a press conference on Wednesday. Summary of the Press Conference held by the Governor […]
When I strongly criticized the Minister of state for petroleum, Ibe Kachikwu for artificially creating a fuel scarcity by in his words, “saving fuel from Nigeria’s refineries for the rainy day,” and of course, not importing enough, while I thought he […]
President Muhammadu Buhari’s Senior Special Assistant on Media and Publicity, Garba Shehu, has threatened to sue the Peoples Democratic Party for accusing him of illegally trading in foreign exchange, except the party apologises to him. Mr. Shehu said the party […]
The Peoples Democratic Party (PDP) has failed to own up to an allegation made on its twitter account that the wife of President Muhammadu Buhari, Aisha, and the President’s Special Assistant on Media and Publicity, Garba Shehu, received forex from […]
The Central Bank of Nigeria (CBN), has responded to the allegation by the Peoples Democratic Party (PDP), that wife of the president, Aisha Buhari is engaged in round tripping of foreign exchange. Asked to react to the allegation, the bank’s spokesman, […]
The wife of the president, Mrs Aisha Buhari and the Senior Special Assistant to the president on Media and Publicity, Garba Shehu has both denied claims by the Peoples Democratic Party that they are beneficiaries from a forex deal. The […]
