The Central Bank of Nigeria (CBN) has said the Nigeria-China currency swap deal will not cover the importation of the 41 items already prohibited from the...
The Senate, on Wednesday, declared that over N30 trillion has been round tripped by virtually all the commercial banks in the country from 2006 till date...
In its bid to finding lasting solution to the dwindling fortune of the naira, the Central Bank of Nigeria CBN) has revisited its foreign exchange market...
The relative relief that Nigeria has been enjoying since mid February 2017 over stability in the foreign exchange market may soon be shattered, as a fresh...
The Central Bank of Nigeria is set to pump more United States dollars into the foreign exchange market this weekend, in continuation of its strategy to...
Following the new policy in the foreign exchange market, which directed commercial banks to open forex kiosks at airports and known shopping malls, hard currency traffickers...
In its bid to ensure that dollar currency is made available to vital sectors of the economy, the Central Bank of Nigeria (CBN) has concluded plans...
Emerging reports say the Central Bank of Nigeria (CBN) is working out strategies to do away with the foreign exchange black market that has remained a...
The Senate has expressed surprise at a recommendation by the Nigerian Law Reform Commission for a review of the Nigerian Foreign Exchange Act in order to...
Until government finds a lasting solution to abuse in the foreign exchange market, the more than 35 per cent widening gap between the interbank market (official...
The Central Bank of Nigeria, CBN, has lifted the ban placed on banks suspended from dealing in foreign exchange. The lift of the ban was announced...
Even as the nation grapples with scarce foreign currency, especially the dollar, it still spends $6 billon and $5 billion, on importation of wheat and flour...
The suspension of nine commercial banks from participating in Nigerian foreign exchange market has resulted in investors selling off their shares in panic at reduced values...
The Central Bank of Nigeria (CBN) has readmitted United Bank for Africa (UBA) Plc into the foreign exchange (forex) market after the commercial bank hurriedly remitted...
The Central Bank of Nigeria, CBN, has increased banks’ weekly dollar sales to Bureaux De Change, BDCs, from Diaspora-related foreign exchange, from $30,000 to $50,000. This...
The Central Bank of Nigeria, CBN, on Tuesday directed authorised dealers to sell foreign exchange cash to BDCs subject to a maximum of $30,000 to a...
The presidency has reacted to criticisms trailing the directive made by the Central Bank of Nigeria (CBN) to banks to sell dollar to intending hajj pilgrims...
The decision of the Central Bank of Nigeria, CBN, to introduce discriminating exchange rate for importers and pilgrims has attracted criticism from importers. It would be...
Apparently disturbed by the continuous slide of the naira, the Central Bank of Nigeria on Friday rose to the challenge by injecting $5 million to the...
If the current effort by Nigerians living outside the shores of the land is sustained, naira, the local currency will soon regain some lost grounds against major currencies. Last year alone, Nigerians abroad sent $31.5 billion home and have...
The management of Oando Plc has alerted the investing public that the company suffered foreign exchange (forex) losses, which reduced profit in the second quarter and...
Players in the Nigerian economy have continued to count their losses occasioned by the recent introduction of a the new foreign exchange policy by the Central...
The Nigerian Economists Society, NES, has faulted the flexible exchange rate policy introduced by the Central Bank of Nigeria, CBN, saying such policy cannot work in...
The board of directors of Nigerian Breweries has blamed the decline in the company’s net profit to forex losses. The first half report of Nigerian Breweries...
The new foreign exchange policy of the Central Bank of Nigeria, CBN, has sent foreign travel airfare over the roof, sending tickets prices some 57 per...
The Naira on Monday closed at N282 to the dollar, indicating a very marginal decline when compared with the closing figures for Friday. The Central Bank...
For those who thought President Muhammadu Buhari is getting bugged down by age or ill health, especially in the wake of his recent 10-day vacation, they...
Statistical data from the Central Bank of Nigeria (CBN) Tuesday show that the Naira gained for the second day of trading without a peg after the CBN...
For the second day, the naira has depreciated to N286 per dollar as the Central Bank of Nigeria (CBN) sold $2 million dollars in interbank market...
With the commencement of the fresh policy on foreign exchange rate in Nigeria today, finance analysts and investment pundits are expecting the new move to eliminate...
The upswing orchestrated by the release of the guidelines for the implementation of the new foreign exchange (forex) of the Central Bank of Nigeria (CBN) continued...
Nigerian and South African equities were the contrarian stocks in the main African stock markets last week as continuing delay in the release of the guidelines...
By SON… One of the quotable quotes from President Buhari that has become something of an “iconic” signature is his declaration that Nigerians have nothing to...
The end may not yet be in sight in the crisis rocking the downstream subsector of the oil industry, as oil marketers, on Friday in Abuja,...
By Pius Adesanmi… One argument being pushed by the Federal Government (via Osinbajo et al) and supporters of fuel subsidy removal (appropriate pricing, deregulation, downstreaming, market...
By Anosike Wilson… Less than a year in office, the Buhari-led administration is telling us that campaigning in an election period does not matter. In fact,...
Vice President, Yemi Osinbajo has attempted to explain government’s position, and what led to government’s decision to increase the pump price of petrol. The vice president...
Let me state it very clear that I am not exactly the number one fan of this present regime, but daily I remain gracious with its...
Banks are diverting dollar sales previously allocated to licensed Bureaux De Change (BDC) operators to unlicensed BDCs or currency hawkers, investigation by Ripples Nigeria has revealed....
The fuel scarcity situation, under which Nigerians have been groaning for some time now, may not go away soon, as it may still linger for some...
Fifty one foreign investors repatriated profits from their investments in equities and Federal Government of Nigeria (FGN) bonds last week. The investors considered Nigeria foreign exchange...
Diamond Bank Plc and Standard Chartered Bank Limited topped forex utilisation list for last week with combined $38.34 million disbursement to their customers. The two lenders, which respectively...
Members of the Bankers’ Committee rose from their 326th meeting held on Thursday in Lagos to declare that the foreign exchange (forex) crisis facing the country...
Even as the economy is literally bleeding, foreign investors have had a free run repatriating profits (forex) abroad, Ripples has learnt. Many of the investors had...
Oil marketers in the country who have been facing the challenge of getting forex to meet their allocation for importation of PMS (petrol) now have a...
The Central Bank of Nigeria (CBN) is reporting that there has been a marginal increase in the level of the country’s foreign exchange reserves. Available data...
The Minister of State for Petroleum, Dr. Ibe Kachikwu on Saturday hinted of plans to collaborate with the Central Bank of Nigeria (CBN) to pave a...
The Federal Government has ordered the Economic and Financial Crimes Commission, EFCC to go after banks and others alleged to have engaged in forex round tripping....
By Waziri Adio Dutch Disease. Resource Curse. Paradox of Plenty. Three good turns of phrases signifying an unflattering concept that could have been developed with just...
In from Ripples Nigeria . . . . Like scavengers out to make a kill, forex vendors from neigbouring countries of Benin Republic, Niger, Chad, Sudan,...
