by Dolapo Adelana Former Minister for Finance Kalu Idika Kalu says the Federal Government has not done enough to revive the country’s nation. Kalu, stated this while speaking with CNBC Africa’s Esther Awoniyi on the economic growth and recovery plan, recently released by the FG. Here are excerpts from the interview: On the problems with Nigeria’s economy “We’ve lost... Read More

Economy recovery and growth plan, Eurobond, FG, forex policy, Kalu Idika Kalu

June 27, 2016

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How we lost over N50bn in one week – Dangote

Africa’s richest man and President of Dangote Group, Aliko Dangote revealed on Saturday, that his company lost N50 billion to the recently introduced flexible foreign exchange policy. The Central Bank of Nigeria (CBN) last week Monday, put an end to the dual exchange rate regime and introduced a single window for the trade in naira. Speaking when Vice... Read More

The News Blog

CBN, Dangote, forex policy, Loss, naira, VP Osinbajo

June 20, 2016

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Forex policy: Foreign airlines to ‘increase’ air fares

The association of foreign airlines representatives of Nigeria (AFARN) has said the new forex regime will inadvertently increase the price of air fares. President of AFARN, Kingsley Nwokoma, told the News of Agency on Monday, that the new flexible foreign exchange policy recently introduced by the federal government could ultimately lead to a hike in... Read More

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AFARN, fares, Foreign airlines, forex policy, nigeria

June 16, 2016

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A citizen’s guide to the new CBN forex policy

Governor of the Central Bank of Nigeria, Godwin Emefiele, on Wednesday, June 15, announced the new flexible exchange rate market. To many Nigerians who don’t fully grasp the complexities of the forex market, below is a simplified guide – from the Presidency – which would help with a better understanding. The market shall operate as... Read More

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CBN, exchange rate, forex policy, Godwin Emefiele, nigeria

February 24, 2016

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IMF to Buhari: ‘Remove restriction on access to forex’

The International Monetary Fund (IMF) has urged President Muhammadu Buhari to remove the restrictions around Nigeria’s foreign exchange policy. The Fund advised that Nigeria’s exchange rate should be allowed ‘to reflect market forces more’ while also advising that the federal government should focus on improving the ‘functioning of the interbank foreign exchange market’. Nigeria’s growth... Read More

The News Blog

Forex, forex policy, IMF, naira, nigeria, president buhari

Nigeria has up to 6 different forex rates – Idika Kalu

How we lost over N50bn in one week – Dangote

Forex policy: Foreign airlines to ‘increase’ air fares

A citizen’s guide to the new CBN forex policy

IMF to Buhari: ‘Remove restriction on access to forex’

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