Naira appreciates at I & E window
The naira on Thursday gained against the dollar as it exchanged at N736.62 at the Investors and Exporters window.
CBN says no plan to convert domiciliary accounts to Naira over forex
The Central Bank of Nigeria, CBN, has said it had no plans to convert foreign currencies in the domiciliary accounts of bank customers to Naira.
Banks warn against presentation of fake documents for forex purchase
Banks Chief Executives have warned against presentation of fake documents for foreign exchange purchase, even as they expressed readiness to sell foreign exchange to members of the public as directed by the Central Bank of Nigeria (CBN).
FOREX: More CBN intervention needed to boost liquidity — LCCI
By Yinka Kolawole The Lagos Chamber of Commerce and Industry (LCCI) has called for more interventions by the Central Bank of Nigeria in the foreign exchange (forex) market to boost liquidity in the market. President, LCCI, Mrs Toki Mabogunje, made the call at a media briefing on the state of the economy in Lagos, yesterday. […]
Domestic airlines attribute high airfares to sourcing forex from parallel market
…buy dollar for 500 naira at parallel market By Lawani Mikairu Domestic airlines have attributed the current astronomical high airfares being charged to different routes to non-availability of foreign exchange needed for operations. This has compelled the airlines to source forex from the open parallel market. According to the airlines, they have been buying dollars […]
Forex scarcity, repatriation uncertainties depress investments in Q1 — Analysts
Investment analysts have blamed foreign exchange (forex) scarcity and concerns around the possibility of ease of repatriating funds out of the country as cause of the dwindling Foreign Portfolio Investment (FPI) in the stock market.
