foreign exchange

Tag: foreign exchange

Top 5 Stories Of The Day | NBS Reveals 10 Nigerian States with the Highest Food Inflation

YNaija November 23, 2024

Here’s Why Flights From Lagos to Abuja May Soon Go for N250,000

The skies above might soon come with a steeper price tag as Nigerian airline operators hint at a potential increment in flight costs. Brace yourselves, as that familiar buzz of…

YNaija September 22, 2022

First Bank announces suspension of international transactions on naira cards

First Bank of Nigeria has declared that beginning September 30, its naira cards will no longer be accepted for international transactions. The bank attributed its decision to current foreign exchange…

Tolu October 13, 2017

We should all be worried about what we consume | 5 takeaways from Nigeria’s yam crisis

On Thursday, the House of Reps during its plenary session opened up an investigation into the Federal Ministry of Agriculture and a number of other agencies, all who are involved…

Omoleye Omoruyi September 10, 2017

We should not celebrate Nigeria’s exit from recession yet – Okonkwo

The Managing Director/Chief Executive Officer of Fidelity Bank Plc, Nnamdi Okonkwo has asked Nigerians not to celebrate the exit of the recession announced by the National Bureau of Statistics (NBS),…

Itunuoluwa July 18, 2017

U.S Dollar rate crashes with Republican Healthcare bill

Following news that Republicans were unable to repeal and replace Obamacare, the U.S. dollar went crashing alongside the Republican Healthcare on Monday, Politico reports. According to CNN, the U.S dollar…

Azeez April 28, 2017

We have enough forex for end users, bank customers – CBN

The Bankers Committee of the Central Bank on Thursday declared that there was adequate stock of foreign exchange to sustain the spate of dollar sales to various segments of forex…

Azeez March 14, 2017

CBN pumps fresh $195m into foreign exchange market

by Azeez Adeniyi The Central Bank of Nigeria on Tuesday released fresh $195m into the foreign exchange market. This was confirmed in a statement signed by the Acting Director of…

Azeez February 28, 2017

CBN releases additional $180m into forex market

by Azeez Adeniyi The Central Bank of Nigeria (CBN) on Monday released additional $180m in order to increase liquidity in the foreign exchange market. This was disclosed by the Acting…

Azeez February 20, 2017

Just In: Central bank introduces new foreign exchange policy

The Central Bank of Nigeria (CBN) has released a new foreign exchange policy. In a statement on Monday, the CBN it would henceforth provide direct additional funding to banks. The apex…

Azeez January 27, 2017

#OccupyCBN: Nigerians protest at CBN headquarters (PHOTOS)

A group of Nigerians led by PDP member, Deji Adeyanju on Friday protested at the entrance of the Central Bank of Nigeria headquarters in Abuja. The protesters under the #OccupyCBN…

Op-ed Editor November 17, 2016

Oo Nwoye: Emefiele really has to go now | Here’s how

by Oo Nwoye Here’s a simple idea to help CBN get rid the f_k of Emefiele. Emefiele, Nigeria’s Central Bank’s Governor has to go because: He is grossly incompetent He…

Azeez October 20, 2016

Airlines’ inability to access foreign exchange may lead to plane crashes – Senate

The Senate on Thursday said the country might experience plane crashes if a total improvement is not done on the aviation sector. This was following a motion tagged “Disturbing Development in…

Op-ed Editor September 7, 2016

Opinion: Who parallel market epp?

by Olamide Eyinla The main topic today in Nigeria is the value of the Naira. Sometime in June 2016, the Naira was floated to reflect its true value as the…

Azeez August 31, 2016

Just In: CBN reinstates banks suspended from forex trade

The Central Bank of Nigeria (CBN) on Wednesday reinstated nine banks that were recently suspended from the foreign exchange market over non-remittance of oil money. The apex bank's Director of Banking…

Azeez August 30, 2016

CBN licenses 11 new international money operators

The Central Bank of Nigeria has licensed 11 new international money operators in the country. In a statement signed by its Ag. Director, Corporate Communications, Isaac Okorafor on Tuesday, the apex…

Adebayo Emuleomo June 20, 2016

Naira gains beyond expectations in parallel market

The new foreign exchange regime announced by the Central Bank of Nigeria (CBN) appears to be effecting positive reactions on the parallel markets in respect to the naira. The naira bounced…

Adebayo Emuleomo May 24, 2016

CBN bows to pressure, adopts flexible foreign exchange

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has asked the number one bank of the nation to commence the adoption of a flexible exchange rate policy.…

Adebayo Emuleomo May 15, 2016

Even the president of the Bureau de Change association is wailing

The President of Association of Bureau de Change of Nigeria, Aminu Gwadabe, has declared that there is no better option for the government than to revert to the two official exchange…

Mazi Emeka February 18, 2016

Ghana bans importation of Nigerian products

Nigeria's neighbor and long time trading partner, Ghana, has banned the importation of some products into the country. According to Vanguard, the Ghanaian Minister of Trade and Industry, Ekwow Spio-Garbrah,…

Mallam Yero July 31, 2015

#YNaijaExplains: Why are some banks rejecting forex deposits?

One of the favourite past times of Nigerians over the last few months has been the daily check of exchange rates. Every new low of the Naira against either the…

Kolapo Olapoju June 24, 2015

“Private jets, rice and tomatoes” – It will become hard to import these items and 37 others

The Central Bank of Nigeria has issued a directive which will effectively stop the importers of certain goods from accessing foreign exchange. According to the apex bank, this move is in…

Kolapo Olapoju December 18, 2014

Highest fall in 5 years: Naira trades for N187 to dollar

by Godwin Akanfe The naira has experienced its highest fall in 5 years. The Nigerian currency fell by four percent against the dollar to 187.05 at the interbank foreign…

Kolapo Olapoju November 14, 2014

Foreigners own 53.81% of the Nigerian Stock Exchange

by Tunji Andrews Total equity transactions at the nation’s bourse increased to N522.74 billion (about $3.37 billion) in September representing an increase of 187.27 % from the beginning of the…

Kolapo Olapoju October 15, 2014

More foreign capital came into Nigeria in Q2, $12.67 billion of it

by Tunji Andrews Provisional data indicated that foreign exchange inflow through the CBN in the second quarter of 2014 amounted to US$12.67 billion, representing an increase of 23.9% and 34.1%…

August 16, 2013

Opinion: What Jargons- Common sense Economics and sensible Politics

by Adisa Adeleye If we can manage the domestic economy properly and efficiently, the external sector will gradually assume less importance and the Naira will find its level in the…

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