Foreign Exchange Archives — City Business News

June 29, 2024 No Responses

CBN Issues Fresh Foreign Currency Deposit Guidelines

The Central Bank of Nigeria (CBN) has issued fresh guidelines to Deposit Money Banks (DMBs) on the deposit of foreign currency notes with the apex bank. This directive was contained in a circular issued by the Director of Currency Operators,...

March 21, 2024 No Responses

CBN Clears FX Transactions Backlog

The Central Bank of Nigeria (CBN) has cleared all valid foreign exchange backlogs of s$7 billion, fulfilling a key pledge of its Governor, Mr. Olayemi Cardoso. In a statement on Wednesday, the apex bank’s Acting Director, Corporate Communications, Mrs Hakama...

January 7, 2024 No Responses

Dangote Reacts To EFCC’s Visit, To Submit More Documents

The Chairman of Dangote Group, Aliko Dangote has reiterated the Group’s commitment to provide the Economic and Financial Crimes Commission (EFCC) with all necessary information. Reacting to the ongoing investigation in a statement, Dangote said: “We have a...

October 13, 2023 No Responses

CBN Lifts Restriction On 43 Items

The Central Bank of Nigeria (CBN) has restated its commitment to boost liquidity in the Foreign Exchange (FX) market. CBN’s Director, Corporate Communications, Dr Isa AbdulMumin, made this known on Thursday in Marrakech. AbdulMumin also announced that Import...

August 25, 2022 No Responses

Stock Market Recovers N65b

Trading activities on the Nigerian Exchange Ltd., (NGX) closed on a positive note on Wednesday, with indices growing by 0.22 per cent following gains by BUA Cement, Nestle and Stanbic Bank Specifically, the market capitalisation gained N65 bil...

February 11, 2022 No Responses

CBN Introduces RT200 Programme To Improve Exports, Boost FOREX

The Central Bank of Nigeria (CBN) has introduced a new intervention programme (RT200) to help improve export receipts and boost the country’s foreign exchange earnings. The CBN Governor, Mr Godwin Emefiele, made this known on Thursday in Abuja, while a...

January 12, 2022 No Responses

LCCI Tasks FG On Inflation, Others

The Lagos Chamber of Commerce and Industry (LCCI) has called for better management of the country’s inflation, foreign exchange(FX) and debt portfolio indexes. LCCI President, Dr Michael Olawale-Cole, made the call during the Chamber’s 2022 first qua...

October 12, 2021 No Responses

Osinbajo Clarifies View On Exchange Rate

Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, has made clarifications on Vice President Yemi Osinbajo’s view on the naira exchange rate. Akande, in a statement on Tuesday, explained that the...

August 2, 2021 No Responses

Banks Comply With CBN FOREX Directive, Sell Dollar At N412

In compliance with the new Foreign Exchange (FX) regulation by the Central Bank of Nigeria (CBN), commercial banks in Abuja have set up dedicated teller points for FX transactions in their branches. The News Agency of Nigeria (NAN) recalls that...

June 1, 2021 No Responses

MRS Oil, Vitafoam Top Gainers’ Table As Investors Earn N94b On NGX

Transactions on the Nigerian Exchange (NGX) closed Monday upbeat with a N94 billion growth. Specifically, the market capitalisation returned to the N20 trillion mark, increasing by N94 billion to close at N20.034 trillion from N19.940 trillion on Friday....

May 29, 2021 No Responses

FMDQ Lists TrustBanc Holdings Maiden Commercial Paper

FMDQ Securities Exchange Ltd has approved the quotation of TrustBanc Holdings Ltd., N0.20 billion series 1 Commercial Paper (CP), under its N10 billion CP issuance programme. The company in a statement on Friday explained that TrustBanc Holdings is a reg...

May 19, 2021 No Responses

Investors Lose N148b As ABC Transport Top Gainers’ Table

The Nigerian Exchange (NGX) market capitalisation dropped further by N148 billion, extending bearish run to two consecutive trading sessions. Specifically, the market capitalisation which opened at N20.487 trillion shed N148 billion or 0.72 per cent to c...

November 19, 2020 No Responses

NSE Members Approve Listing By Introduction

The Nigerian Stock Exchange (NSE) on Wednesday received members approval for listing by introduction at its 59th Annual General Meeting held in Lagos. President of the National Council of NSE, Otunba Abimbola Ogunbanjo, explained that the appro...