CBN ends naira for dollar, issues new forex regulations
The Nigerian Central Bank has announced operational adjustments to the foreign exchange market. The Nigerian Foreign Exchange Market will no longer operate…
FOREX
Stockfish importers complain about currency ban on products
The Premier Stockfish Importers Association of Nigeria asserts that given the ongoing prohibition on stockfish from accessing foreign exchange, the future of…
Trapped funds: CBN to give foreign airlines $150m
The Central Bank of Nigeria has decided to proceed with plans to release another $150 million in frozen cash to international airlines.…
First Bank suspends dollar transactions on naira debit cards
First Bank of Nigeria has suspended international transactions using the Naira Mastercard, Naira Credit Card, our Virtual card, and Visa Prepaid Naira…
Segun Arinze defends foreign models, voiceover artists’ ban
Veteran actor and President of the Association of Voice Over Artists, Segun Arinze, has defended the ban on foreign models and voice-over…
Trapped forex: Expert pushes for ticket purchase in dollars
To resolve airlines’ $464m trapped funds, a former Director-General of the Nigerian Civil Aviation Authority, Dr Harold Demuren, proposed that first-class and…
Harmonise foreign exchange rate – Group tells CBN
The Nigerian Economic Summit Group has urged the Central Bank of Nigeria to harmonise foreign exchange rates as the nation battles scarcity…
Why govt should make forex available for manufacturers – NECA
The Nigeria Employers Consultative Association has revealed why the Nigerian government should allocate available forex to manufacturing and other productive sectors of…
EFCC threatens to arrest dollar hoarders over naira fall
Following the increasingly fall of the Naira, the Economic and Financial Crimes Commission has threatened to arrest Nigerians hoarding dollars and other…
Domestic airlines lose N4.3bn yearly -Ibom Air CEO
The Chief Operating Officer of Ibom Air, George Uriesi, said domestic airlines lose at least N4.3 billion annually due to their inability…
More firms may collapse over rising FX, fuel cost – Expert
An economist and Chief Executive Officer at Financial Derivatives Company Limited, Bismark Rewane, has predicted that the high cost of power, fuel…
Forex trader bags two years jail for N20m theft
A forex trader identified as Shola Henry was sentenced to two years imprisonment on Tuesday by the Domestic Violence and Sexual Offences…