FOREX MARKETS

   Mr Segun Agbaje, Group Managing Director of Guarantee Trust Bank, has said foreign exchange for Personal Travel Allowance (PTA) among others, would now be sold online. Agbaje said this at a media briefing at the end of the Bankers’ Committee meeting on Thursday in Lagos. The News Agency of...

Nigeria’s naira recorded a sharp loss in value to the dollar on Wednesday, a day after the Central Bank of Nigeria (CBN) banned foreign exchange sales to Bureau De Change (BDC) operators in the country. Black market dealers on Wednesday were selling the naira at ₦522 per dollar, up from...

The Central Bank of Nigeria (CBN)has stopped the sales of freign exchange (forex) to the Bureau De Change operators in the country with immediate effect.The CBN Governor, Godwin Emefiele, disclosed this after the Monetary Policy Committee’s two-day meeting in Abuja on Tuesday.The apex bank, however, retained the Monetary Policy Rate...

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 tuition and medical fees, among other invisibles. It follows a...

  The Nigerian currency, Naira on Tuesday fell to new lows against the British pound, Euro and U.S dollar in the black market. Data from Abokifx a website that tracks black-market rate in Lagos shows, that naira dropped considerably in value by N10 against the British pound, trading at N700/£1...

The Association of Bureaux De Change Operators of Nigeria (ABCON) has declared war on foreign exchange (forex) speculators and black-market dealers for distorting the naira exchange rate against the dollar and other global currencies. Speaking during a virtual meeting with members of the Association of Bureaux De Change Operators of...

  Industrialists and Manufacturers on Monday said the Naira 4 Dollar Scheme, an initiative by the Central Bank of Nigeria to encourage diaspora remittances would help stabilize the forex situation of the country. They made the assertion in separate interviews with the News Agency of Nigeria (NAN) on Monday in...

Manufacturers and Industrialists on Wednesday appealed to  the Federal Government and the Central Bank of Nigeria (CBN) for a review of the available Foreign Exchange (FX)   policies in the country. They said this would support manufacturing’s import of unavailable local inputs. Mr Mansur Ahmed, President, Manufacturers Association of Nigeria (MAN),...

 The Association of Bureaux De Change Operators of Nigeria (ABCON), on Tuesday, urged the Central Bank of Nigeria (CBN) to continue to stabilise the foreign exchange rates for economic growth. Alhaji Aminu Gwadabe, ABCON President, gave the advice in an interview with the News Agency of Nigeria (NAN) in Lagos....

  The inflow of foreign exchange into Nigeria shrank by 43.2 per cent to $5.52 billion in May as Africa’s biggest economy took a battering from a record crash in the prices of oil, which provides over 90 per cent of its foreign exchange earnings, in April, the Central Bank...