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FX matching system to restore Naira – Cardoso

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said on Friday the true value of the Naira would be restored with...

Business

CBN issues fresh guidelines on FX system to promote transparency, efficiency

The Central Bank of Nigeria (CBN), on Tuesday, issued comprehensive guidelines for the operations of the interbank foreign exchange (FX) trading system via the...

Business

CBN gives banks approval to trade with deposited FX under disclosure scheme

The Central Bank of Nigeria (CBN) has granted banks the approval to trade with foreign currencies deposited under the amnesty initiative for the foreign...

Business

Nigerian govt targets increased oil production to boost FX Inflow, stabilise naira

The Nigerian government is eyeing increased oil production to boost forex inflow to stabilise the naira and boost economic growth.Minister of Finance and Coordinating...

Business

CBN introduces electronic FX matching system to curb speculation

The Central Bank of Nigeria (CBN) has announced the introduction of an electronic foreign exchange matching system (EFEMS) to curb forex speculation and instil...

Business

FG’s Dollar Bond Oversubscription Not Solution To Exchange Rates Crisis- Ogidan

The Managing Director and Chief Executive Officer of Successory Nigeria Ltd, Dr. Steve Ogidan, has said that the inaugural domestic Federal Government of Nigeria...

Business

Naira Drops Despite Improved Remittance Inflows Of $553m

The naira has lost 0.31 per cent of its value in the last 11 days despite the $553m remittances inflow achieved in July 2024.In...

Business

MTN Renegotiates Tower Leases With IHS, ATC To Reduce FX Shock

MTN Nigeria Communications said it has renegotiated the commercial terms of the existing infrastructure sharing and master lease agreements with IHS Tower Nigeria Limited.MTN...

Business

Naira Volatility Worsens As CBN Sells $229.17m FX To Banks

The persistent depreciation of the naira has forced the Central Bank of Nigeria to intervene in the FX market with dollar sales to authorised...

Business

CBN gives banks go ahead to deposit excess FX at Lagos, Abuja branches

In a bid at deepen the foreign exchange market, boost liquidity and attain convergence in the exchange rates, the Central Bank of Nigeria (CBN)...

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