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Tag: Foreign currency

US to finance mining projects in Nigeria - Dele Alake 
Opinion

Close schools charging foreign currency fees, minister demands

The Minister of Solid Minerals Development, Dr. Dele Alake, has called for the closure of all schools in Nigeria that charge tuition fees in foreign currencies. Alake made this strong recommendation during the Nigeria Gold Day Celebration, held on the sidelines of the 10th edition of Nigeria’s Mining Week in Abuja, which was themed Nigeria […]

CBN stops foreign oil corporations from sending all fx proceeds abroad
Banking

Bank directors support CBN selling excess currency

The Bank Directors Association of Nigeria has said it supports the move of the Central Bank of Nigeria requesting commercial banks to cease “hoarding” foreign money. According to the PUNCH, the growing foreign exchange risk that banks are taking on through their Net Open Positions was a source of concern for the CBN last week. […]