Forex accruals: Finally, state governors remove their blinkers!!
“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”).
FOREX: How boy, 16, turned £150 to over £60,000 in less than a year
A 16-year-old self-taught currency trader who has turned £150 into more than £60,000 in less than a year believes he is the “UK’s youngest Forex trader.” Edward Ricketts, who says he learned his tips from Youtube, was just 16 when he spotted a Foreign Exchange Market trader boasting on Instagram about how much money he […]
CBN, EFCC meet to tackle violations of forex restriction on 42 items
Officials of the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) met yesterday with the aim of strengthening the country’s fight against economic crimes including violation of the foreign exchange restrictions on the 42 items.
How I&E forex window buoyed naira stability with $50bn inflows
By Babajide Komolafe Foreign exchange inflows through the Investors and Exporters (I&E) foreign exchange window hit the $50 billion at the end of February. This huge inflow was instrumental to the stability of the naira against the dollar since 2017. The Investors and Exporters (I&E) forex window allows investors and exporters to purchase and sell […]
Breaking: CBN restricts sale of forex to importers of textiles
The Central Bank of Nigeria, CBN, has directed commercial banks and Bureau the Change operators to, immediately, stop sale of forex to import textiles and clothing materials in the country.
Hajj 2018: Black market operators besiege Nigerian pilgrims for Forex
Foreign exchange black market operators are making brisk business from Nigerian pilgrims in Madinah, since the arrival of the first batch from Kogi for this year’s Hajj in the Holy land.
