“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.