“The 36 state governors intend to demand that “their states’ share and those of the local governments from the Federation account” revenue accruals be distributed in the selfsame currency collected.

“T he 36 state governors intend  to demand that “their states’ share and those of the local governments from the Federation account” revenue accruals be distributed in the selfsame currency collected. That intention is borne out of dissatisfaction with net Federation Account (FA) oil export proceeds made available for distribution among beneficiaries, after the unilateral deductions by NNPC of amounts to offset self-styled petrol price under-recovery”. (Guardian Newspaper Editorial of October 28, 2019, titled “Pay Federation Account Oil Accruals in dollars”).

Apex bank wants FG to sustain border closure By Emeka Anaeto and Babajide Komolafe The Central Bank of Nigeria (CBN), yesterday disagreed with the position of the International Monetary Fund (IMF) on the impact of the foreign exchange (Forex) restrictions on Foreign Direct Investment (FDI) inflow into the country. CBN Governor, Mr Godwin Emefiele, while […]

The Central Bank of Nigeria (CBN) has injected 325.5million dollars in the Retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and short-tenured forwards segment of the inter-bank foreign market.

THE volume of US dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market dropped to $11.4 billion in the third quarter of 2019 (Q319). 

The Central Bank of Nigeria (CBN) on made an intervention of 311.5million dollar in the retail Secondary Market Intervention Sales (SMIS) and 15 million Chinese Yuan in the spot and short-tenored forwards segment of the inter-bank foreign market.

AS the Central Bank of Nigeria, CBN, gets set to execute President Muhammadu Buhari’s directive on restriction of foreign exchange for importation of agro-food items, we draw attention to issues that should be of utmost importance in the collective interest of Nigerians.

The Nigerian Association of Small and Medium Enterprises (NASME) has said that the Federal Government’s decision to restrict sales of foreign exchange at official rate for food import is good for micro, small and medium enterprises (MSMEs) in the country.

THE volume of dollars traded (turnover) in the Investors and Exporters, I&E, window of the foreign exchange market rose sharply by 63 percent, month-on-month, to $6.7 billion in August from $4.12 billion in July 2019 .

THE Governor of Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, on Monday said more items will soon be denied foreign exchange from government institutions and Nigeria banking industry.