Forex market Archives — City Business News

August 28, 2023 No Responses

How To Ease Forex Scarcity, Boost Economy Through Alternative Fuel Regime, By Stakeholders

By Moses Ebosele, ebosele@hotmai.com — To successfully navigate fuel subsidy removal challenges, some stakeholders in the automobile, oil and gas sectors have called on Nigerians to take advantage of alternative fuel. They made the call at the 2023 Nigeria Auto Journalists...

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...

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...

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...

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...

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...

February 12, 2020 No Responses

CBN Boosts Forex Market With $210m

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...

January 24, 2020 No Responses

ABCON To CBN: Sustain Robust FX Policy In 2020

The President, Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, on Thursday urged the Central Bank of Nigeria (CBN) to sustain its robust foreign exchange policy in 2020. According to Gwadabe, the stability of the naira...

September 11, 2019 No Responses

CBN Boosts Forex Market With $210M

The e interbank segment of the Foreign Exchange Market has received another boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, September 10, 2019. Figures obtained from the CBN indicated that authorized dealers.....

August 14, 2019 No Responses

Buhari To CBN: Stop Forex For Food Import

President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to stop release of Foreign Exchange (FOREX) for food import, saying Nigeria has achieved food security. Speaking on Tuesday, Buhari said: “We have achieved food security, and for physi...

June 19, 2019 No Responses

CBN Injects $210m Into Forex Market

The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market. Figures obtained from the CBN on Tuesday, June 18, 2019, indicated that authorized dealers in the wholesale segment of the...

May 29, 2019 No Responses

CBN Lifts Forex Market With $205m

The Central Bank of Nigeria (CBN) on Tuesday, May 28, 2019, injected the sum of $205 million into the inter-bank Foreign Exchange Market, in its continued push to sustain liquidity in the sector. Figures obtained from the CBN indicated that...

May 11, 2019 No Responses

ABCON: Re-Appointment Of Emefiele Will Boost FX Market Stability

The Association of Bureau De Change Operators of Nigeria (ABCON), on Friday said that the reappointment of Mr Godwin Emefiele as the CBN Governor for another term will sustain stability in the foreign exchange market. ABCON’s President, Alhaji Aminu Gwadabe....

May 8, 2019 No Responses

CBN Lifts Forex Market With $205m

The interbank segment of the Foreign Exchange Market has received a boost of $205 million from the Central Bank of Nigeria (CBN) following the sales concluded on Tuesday, May 7, 2019. Figures obtained from the CBN indicated that authorized dealers...