February 19, 2025
Home Posts tagged forex
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AMMON laments over forex-driven prices

By Omotolani Oseni The Association of Meter Manufacturers of Nigeria (AMMON), has warned that the foreign exchange (forex) fluctuations have impacted negatively on the operations in the sector. The association, which expressed concern over the challenges posed by foreign exchange fluctuations, said this is also impacting on the continuous supply of meters to the Nigerian
News

Forex scarcity threatens investor confidence

By Tunde Shorunke Experts want CBN to unify exchange rates Nigeria already in deep recession, says analyst The prevailing difficulties in accessing the major global currencies (forex) especially at the Investors and Exporters Foreign Exchange (I&E FX) window is expected to further create a contraction on investment in Nigeria. Domestic and foreign portfolio investors
Business

CBN injects $210m into Forex Market

ABUJA – The Central Bank of Nigeria (CBN) has injected the sum of 210 million dollars into the inter-bank Foreign Exchange Market to boost liquidity in the sector. The bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor made this known in a statement in Abuja on Tuesday. Okorafor explained that authorised dealers in the wholesale […]
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Forex restriction: Agriculture sector can provide 50 million jobs – NASME

The Nigerian Association of Small and Medium Enterprises (NASME) has stated that the agriculture value chain can provide over 50 million jobs if the Federal Government stops forex restriction as well as place an outright ban on food import. The Chairman of Agricultural Group of NASME, Lagos Chapter, Adam Adebayo made this suggestion in Lagos […]
Business Headlines

CBN deducts N5.5bn from StanChart, Citi, Stanbic IBTC over forex infractions

The Central Bank of Nigeria has deducted total sum of N5.486 billion from accounts of Standard Chartered, Citigroup and Stanbic IBTC Plc over violation of extant laws and regulations, including the Foreign Exchange (Forex) mitoring and miiscellaneous Provisions. The apex bank debited Standard Chartered the sum of N2.4 billion ($7.9 million), deducted N1.2 billion from […]