By Sodiq Adelakun The Central Bank of Nigeria (CBN) has introduced new regulations for Bureau De Change (BDC) operators in an effort to curb excesses and bring stability to the foreign exchange market. Under the revised regulatory framework, foreign exchange…
The Central Bank of Nigeria (CBN), has reviewed the formula for fixing foreign exchange rates for Customs duty on importation. Dr Hassan Mahmud, the Director, Trade and Exchange Department of the CBN said this in a memo addressed to the…
The Central Bank of Nigeria (CBN) has issued a draft of revised Regulatory and Supervisory Guidelines for all Bureau de Change (BDC) Operators and stakeholders in the financial services industry. The guidelines which seeks to enhance the regulatory framework for…
Federal High Court in Abuja has ordered the Central Bank of Nigeria, CBN, to pay a German, Martin Gegenheimer N63.7 million and $10,000 awarded against the Nigerian Government for his unlawful arrest and detention by the Nigerian Immigration Service, NIS.…
By Sodiq Adelakun In a recent development that has significant implications for importers and the business community, the Central Bank of Nigeria (CBN) has once again increased the exchange rate for cargo clearance, this time to N1,605 per US dollar.…
…As FG targets $10bn to strengthen Naira By Sodiq Adelakun In a bid to stabilise the Nigerian foreign exchange market and curb the detrimental impact of speculative activities, the Office of the National Security Adviser (ONSA) has partnered with the…
In a concerted effort to safeguard Nigeria’s foreign exchange market and combat speculative activities, the Office of the National Security Adviser (ONSA) and the Central Bank of Nigeria (CBN) are joining forces to address challenges impacting the nation’s economic stability.…
Former Vice-President and Presidential candidate of the People’s Democratic Party (PDP) in the 2023 General elections, Atiku Abubakar has faulted the policy direction of the Central Bank of Nigeria and the President Tinubu led administration in tackling the country’s grappling…
…Halts payment of BTA/PTA in cash …Cacophony of postulations affecting stability of Fx market — Tinubu tells Govs By our correspondents The Central Bank of Nigeria (CBN) has issued a new directive to International Oil Companies (IOCs) operating within the country…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has issued new directives to International Oil Companies (IOCs) operating within the country, aimed at regulating the repatriation of export proceeds to their offshore accounts. In a bid to maintain liquidity…
