FG secures $2.25bn Afrexim bank loan to tackle FX shortage
The Federal Government on Friday obtained a foreign exchange support package worth $2.25 billion from the African Import-Export Bank. Confirming this…
FOREX
Dangote deny illegal FX dealings, money laundering allegations
Dangote Industries Limited’s management has denied allegations of involvement in illicit foreign exchange transactions and cautioned against spreading such accusations,…
CBN clears forex backlogs – Report
Reports have indicated that the central bank has “cleared” forex backlogs of banks and airlines. According…
How Nigerians spent $340.84m forex on education in six months – CBN
Nigerians seeking admission to institutions abroad spent $340.84 million to fund their applications between January and June 2023. The Punch reported that the amount…
Domestic airlines seek FG’s permission to import jet fuel, forex
Domestic airlines under the auspices of Airline Operators of Nigeria on Monday, urged that the Federal Government grant AON the necessary permit for…
Forex turnover records N22tn in seven months on FMDQ
The foreign exchange turnover on the FMDQ reached a total of N22.98tn ($44bn) over the period spanning from January to…
Firms consider hedging as forex crisis affects performance
Many of Nigeria’s major corporations have suffered enormous losses as a result of the Central Bank of Nigeria’s devaluation of the naira.…
CBN to rename forex market amidst economic shifts
In a move to reframe the financial landscape, the acting Governor of the Central Bank of Nigeria, Folashodun Shonubi, has unveiled plans…
Confusion as official FX rate, black market widens
Nigeria’s official currency rate, which has been edging closer to N100/$ as of last Friday, is now significantly different from those on…
How forex scarcity affects fresh petrol imports – Report
Oil marketers who have been licenced to import fuel are currently experiencing issues getting cash and thus, the prospect of new petrol…
NECA urges FG to increase forex inflow
The Nigeria Employers Consultative Association has urged the Federal Government should take a multifaceted approach, including dealing with oil theft, to increase…
Stock market jumps by 5.5% as forex reforms begin
The stock market increased by 5.5 percent last week as a result of the federal government’s launch of the Foreign Exchange market…