Tag: Foreign Exchange
EFCC arrests 34 for forex fraud in Abuja
The operatives of the Economic and Financial Crimes Commission (EFCC) have arrested 34 suspected currency speculators for alleged foreign exchange fraud.
The suspected currency speculators...
NACCIMA kicks over CBN’s ban lift on FX access for importation
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has condemned the lifting of the foreign exchange restrictions the Central Bank...
CBN records $2.3bn increase in forex inflow
The Central Bank of Nigeria (CBN) says it reported a significant increase in foreign exchange inflow into the economy in February 2024, with marked...
Naira: ONSA partners CBN to stabilise forex market
The Office of the National Security Adviser (ONSA) has announced a partnership with the Central Bank of Nigeria (CBN) to safeguard foreign exchange market...
Atiku: Tinubu’s FX policy put together without plans, consultations
The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, Atiku Abubakar, says the foreign exchange (FX) management policy of President...
CBN pays foreign airlines $61.64m FX backlog
The Central Bank of Nigeria (CBN) says it has disbursed approximately $61.64 million to foreign airlines through various banks, in fulfilment of its commitment...
Experts laud Afreximbank, UBA, NNPC over $3.3bn FX intervention
Efforts to boost Nigeria’s foreign exchange liquidity, especially the release of $2.25 billion FX support facility by the African Export-Import Bank (Afreximbank) have been...
Saudi govt to invest in Nigeria’s refineries, support CBN’s FX reforms
Saudi Arabian government has pledged to invest in the revamp of Nigeria’s refineries, as well as provide financial support to sustain the foreign exchange...
Tinubu to business owners: My govt’ll improve foreign exchange liquidity
President Bola Tinubu says his government has been making crucial arrangements to improve foreign exchange liquidity, noting that his administration is aware of the...
CBN lifts forex ban on rice, cement, toothpicks, poultry products, others
The Central Bank of Nigeria (CBN) has lifted the ban placed on all 43 items previously restricted from purchasing Foreign Exchange to boost liquidity...
