President Muhammadu Buhari has said the directive to the Central Bank of Nigeria, CBN, to stop providing foreign exchange for food importation was to improve agricultural production and attain full food security.

THE volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose sharply by 38 percent, month-on-month, to $4.12 billion in July from $2.9 billion in June, 2019.

I CAN’T meet my demands anymore and even those not on our bills are begging us to supply them, even from as far as China. So, we are saving Nigeria a lot of foreign exchange. So, the restriction on forex is good for the local industry because we are now being pushed to do more.”

THE volume of dollars traded     (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market dropped marginally to $29.62 billion in the first half of 2019 (H1’19).

Leading foreign investment firm, MBA Forex International, its partners AFX Group UK and Fintec Global Markets have partnered to deepen the forex market in giving a robust platform, security of funds and get the naira quoted in the forex market.

THE volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market dropped by 39 percent, month-on-month, to $4.6 billion last month from $7.48 billion in March, 2019.

In a bid to change the narrative about Foreign Exchange investment in Nigeria, leading foreign investment firm, MBA Forex International, and its partners AFX Group UK and Fintec Global Markets have partnered to organize a financial investors meeting in Lagos on Saturday.

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 […]

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.

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 […]

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.

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.

BANKS’ income from electronic payment (e-payment) businesses fell by 11.6 percent in 2017, prompted by the improved foreign exchange supply for invisibles by the Central Bank of Nigeria (CBN) in 2017.

For allegedly defrauding a woman of N1.05 million on the pretext of foreign exchange trading, a 37-year-old, Emmanuel Okeke, was on Wednesday brought before an Ebute Meta Chief Magistrates’ Court, Lagos.

The Central Bank of Nigeria (CBN ) has authorised all commercial banks to sell foreign exchange to travellers Over The Counter (OTC) whether they operate an account  with the bank or not.