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CBN forex

Nigeria’s FX Allocation To Foreign Education Drops By 83% Amid Enrolment Decline

Nigeria’s FX allocation to foreign education has dropped amid decline in enrolment of international students, especially in the United Kingdom universities. The latest Central Bank of Nigeria (CBN) statistical bulletin revealed that Nigerians spent $38.17 million on overseas schooling in the first

July 25, 2024

Energy, Exchange Rate, Transportation Top Three Drivers Of Inflation In Nigeria - CBN Survey

Business

Import: CBN Stops Price Verification System For Form M

The Central Bank of Nigeria has discontinued its Price Verification System (PVS) required for validation of Form M application. In a circular released on Wednesday, 26 June, the apex bank said the discontinuation takes effect from 1 July 2024. It referenced a

June 28, 2024

Food Crisis: Nigeria Customs Sells Seized Items, A Bag Of Rice For N10,000

Business·News

CBN’s FX Rates For Import Duty Disrupts Our Services, Customs Boss Cries Out

Comptroller General of the Nigeria Customs Service (NIS), Adewale Adeniyi, has lamented about the current FX rates system approved by the Central Bank of Nigeria (CBN), saying it has caused disruptions in their services.

April 4, 2024

Forex Crisis: CBN Sells $122.67m To 46 Authorised BDC Operators

Business·Currency·News

Save Naira: CBN Sells $20,000 Forex To BDCs At Reduced Rate Of N1,301/$

the Central Bank of Nigeria (CBN) has once again begun providing foreign exchange to Bureau de Change (BDCs) operators as a way of increasing liquidity in the forex market.

February 27, 2024

Naira Depreciation Spurs Surge in Raw Material Imports To N3trn- NBS Reveals

Business·Markets·News

Naira Trades For N1,900/$1 Despite Rising Demand: CBN, EFCC Collaborate To Tackle Currency Speculators

The Nigerian Naira experienced a slight appreciation against the United States dollar in trading sessions, despite concerns over widening gaps between official and parallel market rates. As per data from the FMDQ Securities Exchange, the local currency closed at N1,542.58 per dollar

February 22, 2024

Just In: CBN Resumes Fx Sale To BDCs At N1,021/$1

Business·Markets·News

CBN Forex Policies Faltering As Naira Edges Closer To N1,700/$1: Is Stability Possible Amidst Structural Challenges?

The ongoing struggle to stabilize the naira against the dollar has intensified, with the exchange rate inching closer to a daunting N1,700/$1 mark. Despite concerted efforts by the Central Bank of Nigeria (CBN) to implement various forex policies, the currency’s value continues

February 17, 2024

Financial Inclusion Key To Realising Nigeria's $1trn Economy Target - Cardoso

Business·News

Forex Backlog: $2.4bn Linked To Non-existing Entities, Says CBN Gov, Exposes Phantom Transactions

Dr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria, has made a shocking revelation about the foreign exchange backlog, stating that $2.4 billion of the $7 billion inherited were linked to non-existing entities, undocumented requests, and various infractions.

February 6, 2024

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Finance & Economy

Naira Depreciation: ‘CBN’s New Measure Will Ease Forex Pressure’

Economic analysts have expressed optimism that the latest policy measures issued by the Central Bank of Nigeria will have a positive impact on the foreign exchange market and the economy in general.

February 1, 2024

Business·Currency

Naira Fall: CBN Sets Limit For Banks To Manage Forex Risks

The Central Bank of Nigeria (CBN) has placed restrictions on the amount of foreign exchange that banks may retain to prevent losses. This is as the country’s economy continues to witness depreciation of the local currency, the naira.

January 31, 2024

Two EFCC Officers Appear Before Disciplinary Committee Over Assault Of Woman In Lagos Hotel

News

EFCC Summons Dangote Group Officials Over Forex Transactions Probe

Economic and Financial Crimes Commission (EFCC) has summoned top officials from Dangote Group to provide documents on foreign exchange transactions spanning nine years.

January 6, 2024

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CBN forex

Nigeria’s FX Allocation To Foreign Education Drops By 83% Amid Enrolment Decline

Import: CBN Stops Price Verification System For Form M

CBN’s FX Rates For Import Duty Disrupts Our Services, Customs Boss Cries Out

Save Naira: CBN Sells $20,000 Forex To BDCs At Reduced Rate Of N1,301/$

Naira Trades For N1,900/$1 Despite Rising Demand: CBN, EFCC Collaborate To Tackle Currency Speculators

CBN Forex Policies Faltering As Naira Edges Closer To N1,700/$1: Is Stability Possible Amidst Structural Challenges?

Forex Backlog: $2.4bn Linked To Non-existing Entities, Says CBN Gov, Exposes Phantom Transactions

Naira Depreciation: ‘CBN’s New Measure Will Ease Forex Pressure’

Naira Fall: CBN Sets Limit For Banks To Manage Forex Risks

EFCC Summons Dangote Group Officials Over Forex Transactions Probe

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