Tag: Forex Exchange

Cardoso To Nigerians: Moderate Demand For Forex
February 10, 2024 No Responses

Cardoso To Nigerians: Moderate Demand For Forex

The Governor, Central Bank of Nigeria, (CBN), Olayemi Cardoso has implored Nigerians to cut down on their demand for forex. “We must moderate our demands for forex. Where there are opportunities to substitute locally, so we should.” the CBN governor...
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Osinbajo Clarifies View On Exchange Rate
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...
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Norway Blames Rising Cost Of Stockfish In Nigeria On Forex Ban
September 24, 2021 No Responses

Norway Blames Rising Cost Of Stockfish In Nigeria On Forex Ban

Norway Ambassador to Nigeria, Mr Knut Lein,  on Friday,  blamed the rising cost of stockfish in Nigeria on the inclusion of stockfish on forex banned list.  The News Agency of Nigeria (NAN) recalls that the Central Bank of Nigeria (CBN)&nbs...
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Bankers Plan Digital Process For Forex Sales
August 13, 2021 No Responses

Bankers Plan Digital Process For Forex Sales

The Bankers’ committee has concluded plans to digitise sales of Foreign Exchange (Forex) across the country.   According to a member of the Bankers’ Committee Group, Mr. Segun Agbaje, who is the chief executive officer of Guaranty Trust Hold...
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Markets Remain Cautious Amid Delta Fears
August 11, 2021 No Responses

Markets Remain Cautious Amid Delta Fears

By Lukman Otunuga, Senior Research Analyst at FXTM — It may be a relatively quiet week for Nigerian markets due to the absence of Tier 1 economic reports. Nevertheless, the developments outside of Nigeria could impact sentiment ahead of the...
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CBN To Refund N35m Capital Deposits To Bureaux de Change Applicants
July 30, 2021 No Responses

CBN To Refund N35m Capital Deposits To Bureaux de Change Applicants

The Central Bank of Nigeria (CBN) on Thursday says it will start immediate refund of capital deposit to Bureaux de Change (BDC) promoters with pending applications.  According to a circular signed by Ibrahim Tukur for the Director, Financial Policy and...
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CBN Stops Sale Of FOREX To BDCs
July 27, 2021 No Responses

CBN Stops Sale Of FOREX To BDCs

The Central Bank of Nigeria (CBN) on Monday announced immediate discontinuation of the sale of Foreign Exchange (forex) to Bureau de Change (BDC) operators in the country.  Mr. Godwin Emefiele, the CBN Governor, made this announcement on Tuesday while present...
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ETI To Raise $300m From Capital Market
June 8, 2021 No Responses

ETI To Raise $300m From Capital Market

Ecobank Transnational Incorporated (ETI) Plc has announced plans to raise $300million from the International Debt Capital Markets (IDCM), through the issuance of tier 2 qualifying sustainability notes.  Ms Adenike Laoye, Group Head, Corporate Communicatio...
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CBN Increases Forex Allocation To Banks
June 7, 2021 No Responses

CBN Increases Forex Allocation To Banks

The Central Bank of Nigeria (CBN) has concluded plans to increase the amount of foreign exchange allocated to banks to meet the requests of customers. This particularly relates to requests of travelers seeking foreign exchange for travel allowances, payment of...
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NGX Opens Week With N59b Growth
May 11, 2021 No Responses

NGX Opens Week With N59b Growth

The nation’s bourse opened trading for the new week on Monday on a positive note with a growth of N59 billion, following interests in Tier 1 banks.  Specifically, the market capitalisation which opened at N20.431 trillion inched higher by N59 billi...
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Market Capitalisation Recovers N417billion
January 9, 2020 No Responses

Market Capitalisation Recovers N417billion

The Nigerian Stock Exchange (NSE) on Wednesday extended positive sentiment with the market capitalisation appreciating by N471 billion. Specifically, the market capitalisation which opened at N13.316 trillion inched N471 billion or 3.54 per cent to close at N1...
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NSE Resumes 2020 With 0.10 Per Cent Growth
January 3, 2020 No Responses

NSE Resumes 2020 With 0.10 Per Cent Growth

The Nigerian Stock Exchange (NSE) resumed trading for 2020 on a positive trend with the benchmark index appreciating by 0.10 per cent following investors’ interest in MTN Nigeria stock. Specifically, the All-Share Index which opened trading for the year on.....
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CBN Injects $325.5m Into Retail Market
October 19, 2019 No Responses

CBN Injects $325.5m Into Retail Market

The Central Bank of Nigeria (CBN) has injected 325.5million dollars in the retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and short tenored forwards segment of the inter-bank foreign market. The bank’s Director, Corporate Comm...
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NSE Delists First Aluminium Shares
August 2, 2019 No Responses

NSE Delists First Aluminium Shares

The Nigerian Stock Exchange (NSE) has delisted  the entire issued share capital of First Aluminium Nigeria Plc.  In a statement, NSE explained that the move followed the suspension of trading in the shares of the company in preparation for the...
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