Main Menu

Tag: forex

Naira AN351 Against Dollar At Forex In One Month

Nigerian Naira vs US Dollars
The Nigerian national currency, Naira, appreciated N351.12 against the US Dollar in the foreign exchange market in the last one month. This is according to FMDQ data on the dollarRead More

CBN: We Have Settled All Valid Forex Backlogs

Central Bank of Nigeria (CBN)
The Central Bank of Nigeria (CBN), yesterday, announced that all valid Foreign Exchange (FX) backlogs owed various sectors of the economy had been settled. The FX settlement fulfilled a keyRead More

Obaseki Sees Export As Solution To Forex Crisis In Nigeria

Edo State Governor, Mr. Godwin Obaseki (right), with the National President of the Manufacturers’ Association of Nigeria (MAN), Otunba Francis Meshioye, during a courtesy visit, at the Government House, Benin City.
Edo State Governor, Mr Godwin Obaseki, has said the Federal Government can foreign exchange crisis by advancing fiscal policies to encourage manufacturers to boost local production and access necessary creditRead More

Report: Growing Inflation Eroding Purchasing Power Of Nigerians

National Bureau of Statistics
Consumer spending now mostly limited to household essentials Most Nigerians are no longer be able to afford major expenditure on discretionary or non-essential goods and services as inflation has continuedRead More

NCDMB: Afreximbank Invested Over $42bn In African Enterprises In Five Years

Nigerian Content Development and Monitoring Board (NCDMB)
Africa must address funding, technology, other limitations to achieve energy security, says Sylva The Nigerian Content Development and Monitoring Board (NCDMB) yesterday disclosed that the African Export-Import Bank (Afreximbank) hadRead More

Report: Nigeria Earned $2.29bn Through Beer Sales In 2019

Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo
Minister assures producers of government’s support A study by the Oxford Economics for the Worldwide Brewing Alliance (WBA) which was released yesterday has revealed that Nigeria earned $2.294 billion throughRead More

Lemo: Don’t Blame CBN, Hold Nigerians Responsible For Forex Scarcity

Chairman of Titan Trust Bank, Mr Tunde Lemo
The Chairman of Titan Trust Bank, Mr Tunde Lemo, has stated that the Central Bank of Nigeria (CBN) should not be blamed for the insufficiency of forex in the country.Read More

Nigeria’s Forex Inflow Hits $55.5bn In Seven Months

Central Bank of Nigeria (CBN)
The Central Bank of Nigeria (CBN) has disclosed that Nigeria recorded a foreign exchange inflow of $55.5billion within a seven-month period. It attributed the forex inflow to increased non-oil receiptsRead More

Emefiele Forecloses Monetary Policy Tightening To Boost Recovery, Stimulate Growth

Ex-Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele
Says Nigeria not exposed to effects of US policy normalisation, others Banking industry NPLs drop 4.85%, lowest in 10 years Warns against patronage of loan sharks The Governor of theRead More

CBN Moves To Halt Over-invoicing By Importers

Central Bank of Nigeria (CBN)
Exporters also guilty of under-invoicing Action will preserve Nigeria’s scarce forex The Central Bank of Nigeria (CBN) has taken a major step to arrest the age-long practice of over-invoicing whichRead More