Tag: forex, subsidy, world bank
Subsidy and forex reforms: Nigeria may save N3.5trn or $5.10b in 2023 – World Bank
Our ReporterJun 28, 2023
Nigeria could save up to N3.9 trillion or $5.10 billion this year alone after reforms to its foreign exchange market and the removal of a petrol subsidy, the...
In daylight: Robbers snatch bags of foreign currency
Our ReporterMay 27, 2023
Suspected armed robbers on Friday afternoon operated at the Oke-Sokori axis of Abeokuta metropolis and escaped the scene with a substantial amount of foreign...
Illegal levies, fees, forex hampering supply of fuel, Says DPPMA
Our ReporterNov 10, 2022
The Depots and Petroleum Products’ Marketers Association of Nigeria has said that unauthorised fees and levies, as well as the inability to access foreign...
Forex:Naira remains at N430.33 to a Dollar
Our ReporterAug 30, 2022
The Naira remained constant on Monday exchanging at N430.33 to the dollar at the Investors and Exporters window. It remained unchanged from its value on Friday....
Forex scarcity:CBN releases $265m to Airlines
Our ReporterAug 27, 2022
The Central Bank of Nigeria, on Friday, released $265m to airlines operating in the country, to settle outstanding ticket sales to check a brewing crisis...
Manufacturers want more FOREX for importation of raw materials .
Our ReporterAug 25, 2022
The Manufacturers Association of Nigeria (MAN) has called on the CBN to allocate more FOREX to manufacturers to allow for importation of raw materials and machinery....
Nigeria’s forex inflow hits $55.5bn in seven months
Our ReporterJan 30, 2022
The country recorded a foreign exchange inflow of $55.5bn in seven months, data obtained from the Central Bank of Nigeria have shown. The rise in forex inflow was...
Forex: No plan to convert domiciliary accounts into naira — CBN
Our ReporterSep 12, 2021
The Central Bank of Nigeria has assured members of the public that it didn’t issue a directive to convert the foreign exchange in the domiciliary...
EFCC arrests 10 for Forex scam in Kano
Our ReporterSep 02, 2021
The Kano Zonal Command of the Economic and Financial Crimes Commission have arrested ten suspected fraudsters for alleged involvement in forging travel documents...
CBN stops sales of forex to BDCs
Our ReporterJul 27, 2021
….Accuses them of turning to money laundering agents Operators of Bureau de Change in Nigeria are in for a tough time as the Central Bank of Nigeria on Tuesday...