By Elizabeth Adegbesan The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange (Forex) market fell  by five per cent, Year-on-Year (YoY) to $31.29 billion last year from $33.04 billion in 2020. Vanguard findings from the Central Bank of Nigeria, CBN, forex data    show that   turnover recorded […]

The lingering row between private depot owners and the Federal Government over dollar payment of dues and levies is set to shatter the stability of fuel supply and price across the country this week.

The members of the Central Bank of Nigeria’s, CBN,   Monetary Policy Committee, MPC, have called on the apex bank to carry out a comprehensive review of the foreign exchange market operations in the country to determine the fundamental drivers, and relative sizes of the segments of the market.

The Central Bank of Nigeria, CBN, has directed banks to apply the indicative exchange rates in the Investors and Exporters (I&E) window for   outbound payments through the  Pan African Payments and Settlement System, PAPSS.

Nigeria’s local currency, Naira, faced severe pressures last week, forcing it to a record depreciation against the US Dollar  in both the parallel market and Investors and Exporters (I&E) window.

By Arize Nwobu THE challenge of foreign exchange, forex, in the economy has been recurrent over the years and it is for reasons that are fundamental and obvious. The Nigerian economy is monolithic in structure with oil accounting for 90 per cent of exports, 25 per cent of Gross Domestic Product and 80 per cent of […]

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 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).

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. […]

…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 […]

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.

The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange (FOREX) market fell year-on-year (YoY) to $3.7 billion in the first quarter of this year (Q1’21) from $20.49 billion in Q1’2020.

The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market rose by 43 percent, month-on-month, to $1.3 billion in February from $906.44 million in January 2021.

The Bureaux De Change (BDC) operators licensed by the Central Bank of Nigeria (CBN) have declared operational war against foreign exchange (forex) speculators and black market dealers over alleged market distortions.

The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market rose by 43 percent, month-on-month, to $1.3 billion in February from $906.44 million in January 2021.