Tag: FOREX
CBN announces clearance of valid FX transactions to eliminate legacy backlog
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs have been settled, to fulfil a key pledge by the...
Upsurge in dollar inflow as remittances quadruple, foreign investors’ return –...
The Central Bank of Nigeria (CBN) reported a significant increase in foreign exchange inflow into the economy in February 2024, with marked increments in...
CBN pays airlines all verified forex backlog claims
The Central Bank of Nigeria (CBN) said it has concluded the payment of all verified claims of foreign exchange owed airlines with an additional...
Dangote Group reacts to EFCC operatives’ visit to headquarters
The Dangote Group has debunked allegations of getting unapproved foreign exchange allocations during the tenure of the embattled ex-governor of the Central Bank of...
CBN lifts ban on cement, 42 items, increases dollar supply
The Central Bank of Nigeria (CBN) has removed restrictions placed on 43 items, including cement, which were initially not qualified for forex at the...
Apostle Suleman compares N1,000 note to $100 note
President of Omega Fire Ministries Worldwide Apostle Johnson Suleman on Friday ridiculed the N1,000 note in comparison with $100 note.
The controversial cleric posted a...
Dangote cuts sugar import by 40% to save forex
Dangote Sugar Refinery Plc has resolved to significantly reduce the importation of sugar into the country by 40 per cent, thus paving the way...
EFCC declares MBA Capital CEO Maxwell Odum wanted over N213bn fraud
The Economic and Financial Crimes Commission (EFCC) has declared wanted the chief executive of a forex training and capital investment company, MBA Capital and...
Forex: CBN directs banks to set up teller points
The Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) to set up teller points in designated branches for the sale of...
CBN ends sale of forex to bureau de change operators
The Central Bank of Nigeria has ended the sale of forex to bureau de change operators in the country with immediate effect, the bank's...