Home Topics FOREX
An Agricultural Economist, Mr Bright Okwu, has urged the Central Bank of Nigeria (CBN) to include Egg Powder imports to be among the items banned from accessing Foreign Exchange (FOREX).
Nigerian banks plan to reduce the amount customers can spend abroad using debit cards on Monday, two lenders said, as banks try to limit foreign currency settlement risk.
China’s commercial banks saw a net forex settlement surplus of 553.1 billion yuan (about $78.6 billion) in the first half of this year, the country’s forex regulator said on Friday.
Shortage of forex in the economy caused the naira to fall below the official rate of by 3.5 per cent to N380/$1 from N360/$1 according to the Central Bank of Nigeria.
The Association of Bureaux De Change Operators of Nigeria has warned its members and forex speculators putting pressure on the naira to stop the practice or risk losing their money.
The Manufacturers Association of Nigeria (MAN) has linked the low utilization of local raw materials in the manufacturing sector to policy intervention in the official foreign exchange (forex) market by Central Bank of Nigeria (CBN).
The foreign exchange (forex) market will witness stability in 2020, while the Central Bank of Nigeria (CBN) will continue to sustain its Open Market Operation (OMO) sales at high interest to continue to attract foreign investors.
Analysis of the regulator’s half year report showed that the apex bank defended the local currency with $8.28 billion through its direct intervention within the first six months of 2019. Financial analysis estimated that the same level of intervention, or even higher amount applied in accompanying six months ended December 2019.
Success in the foreign exchange market largely depends on the strength of forecasting skills. Here are the main factors influencing the dynamics of Forex.
The Securities and Exchange Commission (SEC) says the commission is committed toward ensuring that the commodities trading ecosystem in the country becomes vibrant to contribute to economic development.
The Central Bank of Nigeria (CBN), yesterday disagreed with the position of the International Monetary Fund (IMF) on the impact of the foreign exchange (Forex) restrictions on Foreign Direct Investment (FDI) inflow into the country.
Sterling fell Friday as investors fret over Boris Johnson’s chances of pushing his Brexit deal through parliament, while Asian markets were mostly down after data showed China’s economy expanded at its slowest pace in nearly three decades.
The Vice President, Prof. Yemi Osinbajo, yesterday, said that a vibrant commodities trading ecosystem will help diversify the economy away from dependence on crude oil and enhance foreign exchange earnings, forex.
The Senate has advised the Federal Government to accelerate the diversification of the economy to improve the country’s foreign exchange (forex) earnings.
The Central Bank of Nigeria (CBN) on Friday said it made another intervention in the Retail Secondary Market Intervention Sales (SMIS) with the injection of about $321 million.
An Agro-Economist, Dr Victor Iyama, has urged the federal government to desist from further destruction of Indian hemp farms as, according to him, it could generate foreign exchange for the country.
The Anti-Corruption and Transparency Monitoring Unit, has called for transparency and ethical dealing in the Nigerian forex market trading, stressing that transparency and ethical dealings will enhance the growth of the foreign currency trading in the country.
The Nigerian Union of Teachers (NUT), Jos East Chapter, on Wednesday decried the non-implementations of the new minimum wage in the state.
The Primate, Church of Nigeria, Most Rev. Henry Ndukuba, on Wednesday called on the Federal Government to urgently come up with programmes to cushion the effects of the hike in petrol prices and electricity tariff on citizens.
The Peoples Democratic Party (PDP), has urged the governments at all levels to articulate strategies to mitigate the menace of flood and forestall such devastation in the future.
US West Coast state to join 15 nations that have set similar goals in order to fight climate change.
Former National Chairman of the All Progressives Congress, Adams Oshiomhole, says he is not downcast even though his party lost the just concluded governorship election in Edo State.
Health activities have fully resumed at the National Orthopaedic Hospital, Enugu, after the Joint Health Sector Unions (JOHESU) ended its seven-day warning strike.
A member of All Progressives Congress (APC), National Committee on Ondo Governorship Election, Mr Osita Okechukwu, has dismissed fears that the APC may lose the October 10 election in the state.
Chisom Dike, the member of the House of Representatives for Tai-Oyigbo-Eleme Federal Constituency, has decamped from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) in Rivers State.
The approval of a revised budget and FIFA’s annual report are among the main items on the agenda for the worldwide body’s first remote Congress tomorrow.
Liverpool are on the verge of landing Bayern Munich midfielder Thiago Alcantara after agreeing on a deal with the German champions, according to The Athletic.