The Foreign Exchange (FX) Spot and Derivatives markets experienced a significant increase in turnover for the week ending October 13, 2023. The total turnover reached $683.97 million, which represents a 109.52 percent increase compared to the previous week’s turnover of…
The Lagos Chamber of Commerce and Industry (LCCI) have urged the Central Bank of Nigeria (CBN) to remove the foreign exchange restrictions for importing 43 products in their list. This was revealed at the chamber’s quarterly State of the Economy…
Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said that the race to 200 billion dollars in foreign exchange repatriation (RT200) has generated over 2.9 billion dollars as at June. Emefiele said this on the sidelines…
…Advocates BDCs’ inclusion in dollar supply mechanisms The Association of Bureaux De Change Operators of Nigeria (ABCON) has solicited the Central Bank of Nigeria (CBN) support in ensuring that Bureaux De Change (BDCs) continue to sell dollars to retail end …
Heritage Bank Plc, Lagos Commodities and Futures Exchange (LCFE) and other participating financial institutions explored opportunities on export revenue from the Commodities Ecosystem as part of its support to the Central Bank of Nigeria’s (CBN) to raise $200billion in foreign…
By Ariemu Ogaga and Uthman Salami Experts have said that the Nigerian Economy will suffer dislocations if the Central Bank of Nigeria (CBN) moves forward with its proposed plans of stopping the sales of foreign exchange to Commercial Banks. The…
The analysts noted that the FX inflows through the CBN accounted for about 56 percent of aggregate inflows in the economy. Total foreign exchange (FX) inflow into the Nigerian economy increased sharply to $30.2 billion in the third quarter (Q3) 2021…
The Central Bank of Nigeria (CBN) has denied in very strong terms that its planning converting foreign exchange (FX) in the domiciliary accounts of customers into naira. The apex bank in a circular issued and signed by its Director Corporate…
Financial stakeholders have urged the Federal Government to enhance productive sector support in order to boost output and check inflationary pressure. They disclosed this in separate interviews on Tuesday in Lagos. They said that ensuring more support to local manufacturers…
Foreign exchange rate speculation has been noted to be fuelling depreciation of the local currency, Festus Adenikinju, a member of the monetary policy committee said in his personal statement released by the Central Bank of Nigeria (CBN). Naira has suffered…
