FOREX Archives

Cabals benefit from petrol imports, frustrate local refineries –IPMAN

The massive imports of Premium Motor Spirit, popularly called petrol, using the United States dollar, will continue to put pressure on the naira and cause a further devaluation of the local currency, the National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, explains in this interview The amount spent as subsidy […]

agencyreport
30th May 2022
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194 Views

Trapped funds: CBN to give foreign airlines $150m

Economy

Forex inflow falls by 37% in one month -CBN

The foreign exchange inflows into the country fell by 36.7 per cent in one month to $4.36bn in January, figures obtained from the Central Bank of Nigeria have shown. The CBN revealed in its report on ‘Foreign exchange flows through the economy’ that the economy recorded lower net foreign exchange inflow in January, driven, mainly, […]

agencyreport
22nd May 2022
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295 Views

Jet A1 hike threatens airlines' existence - Ibom Air COO

Transportation

Airlines, oil marketers disagree over JET-A1 price

Nigerian airline operators are currently at loggerheads with oil marketers over the rising prices of JET-A1, also known as aviation fuel. While marketers have defended the price, which is as high as N600 per litre, airlines have insisted that it is too high, accusing marketers of exploitation. As a result, airlines have threatened to shut […]

agencyreport
20th May 2022
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259 Views

News

Bakers hike bread price again, cite forex crisis, others

Bakers under the aegis of the Premium Breadmakers Association of Nigeria have said they will increase the price of bread, effective Monday (today). The President of the association, Emmanuel Onuorah, who made the disclosure in an interview with our correspondent on Sunday, said the increase became inevitable due to soaring costs of operations. He said, […]

agencyreport
25th April 2022
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300 Views

Economy

Massive job cut looms as dollar hits N590

The lingering foreign exchange scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590/$1, our correspondent has learnt. The development may lead to massive job loss in the manufacturing industry, among other sectors, according to the Manufacturers Association of Nigeria. The development comes over […]

agencyreport
23rd March 2022
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258 Views

Africa can unlock $469bn annually without raising taxes

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US plans 12.5% tariffs on imports over forced

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Africa can unlock $469bn annually without raising taxes –

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Tag: FOREX

Cabals benefit from petrol imports, frustrate local refineries –IPMAN

Forex inflow falls by 37% in one month -CBN

Airlines, oil marketers disagree over JET-A1 price

Bakers hike bread price again, cite forex crisis, others

Massive job cut looms as dollar hits N590

Africa can unlock $469bn annually without raising taxes.

China Industrial Bank backs Nigeria’s telecom initiative to.

Gunmen abduct ex-power minister’s sister, twin children in.

Vandals destroy six transmission towers, disrupt power supply.

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