Tag: CBN

over forex infractions, CBN freezes 38 firms’ accounts

The Central Bank of Nigeria has instructed banks to place a post-no-debit on the bank accounts of 38 companies. The affected accounts belong to betting companies, bureau de change companies…

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Naira exchanges for N470/$

The naira gained slightly on Friday, exchanging for N470/$ in the parallel market in the evening, after selling at N476/$ in the morning. This followed the Central Bank of Nigeria’s…

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BDCs to Get Dollars on Resumption of International Flights, says CBN

  Central Bank of Nigeria (CBN) has said it would restart the auctioning of foreign exchange to bureau de change (BDC) operators once international flights resume. CBN Director, Corporate Communications,…

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Naira exchanges for 475/$ as forex scarcity persists

The naira on Friday exchange to the dollar at 475/$ at the parallel market as foreign exchange scarcity persisted. Continued volatility experienced in crude oil prices and low demand had…

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Nigeria’s external reserves drops by $286 million

Nigeria’s external reserves dropped by $286 million (0.8 per cent) to $35.899 billion as at July 28, 2020, compared to the $36.185 billion it was at the end of June,…

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 As forex scarcity worsens,Naira plunges to N472/$,expert says gap between exchange rates creates arbitrage opportunities for Highly connected individuals

The naira on Tuesday traded at B472 to a dollar at the parallel market as foreign exchange scarcity persisted. The exchange rate was N440/$ in the parallel market in June,…

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Eben Joels: Corruption is the system in Nigeria.

With the fall of the naira against the dollar, worsening scarcity  of  dollar, a rather scary economic forecast by Pwc, the nations economy is jittery in the face of a…

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National Theatre Handover: Court Orders Malami, CBN, Others To Appear Before It

The Federal High Court sitting in Lagos on Friday ordered the Attorney-General of the Federation & Minister of Justice, Mr. Abubakar Malami, SAN, to appear before it to explain the…

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Airlines Anticipate FG Support ,as intervention commences next January

Domestic airlines have completed the necessary documentation for loan request at the Central Bank of Nigeria (CBN), which the apex bank is offering to the airlines at five per cent…

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