Tag: foreign exchange
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After losing billions in new FX policy, Dangote visits Tinubu
Businessman and Africa’s richest person, Aliko Dangote, on Friday, paid a visit to President Bola Tinubu at the Presidential Villa in Abuja.
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FG should take tough stance on oil thieves, pipeline vandals – LCCI
The Lagos Chamber of Commerce and Industry (LCCI) has lamented the continuous decline in oil revenue in the country due to oil theft and pipeline vandalism. LCCI appeals to government to address the problems of oil theft and pipeline vandalism with a drastic measure and sterner approach. It stated that if oil theft and pipeline…
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Naira loses against dollar, exchanges at 424.88
The Naira on Wednesday lost to the green back at the Investors and Exporters window, exchanging at 424.88 to the dollar against 421.00 traded on Tuesday, a 0.80 per cent depreciation. The open indicative rate closed at N421.80 to the dollar on Wednesday.
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Foreign exchange inflow hits $91b in 2017 – CBN report
The Central Bank of Nigeria (CBN), says the aggregate foreign exchange inflow into the country stood at $91 billion in 2017. The bank disclosed in its 2017 annual report released on Thursday that the figure was an increase of 45 per cent from $62.75 billion in 2016. The bank also said the figure surpassed the…
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CBN boosts foreign exchange market with $210m
…as naira exchanges for N362/$1 In another round of intervention, the Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars into the inter-bank Foreign Exchange Market to boost liquidity in the system. The acting Director, Corporate Communications, Mr Isaac Okorafor, in a statement in Abuja, said the CBN allocated 100 million dollars to…
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CBN injects fresh $210m into foreign exchange market
…as Naira exchanges for $1/N360 The Central Bank of Nigeria (CBN) has provided fresh 210 million dollars to meet customers’ requests in various segments of the foreign exchange market. The Bank’s Acting Director, Corporate Communications Department, Mr Isaac Okorafor in a statement on Monday in Abuja, said that 100 million dollars was offered to authorised…
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CBN injects $210m into foreign exchange market
The Central Bank of Nigeria (CBN) has injected another 210 million dollars into the inter-bank Foreign Exchange Market to meet customers’ requests in various segments. Giving a breakdown of the intervention, the bank’s acting Director, Corporate Communications, Mr Isaac Okorafor on Monday in Abuja said that 100 million dollars was offered to authorised dealers in…
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Again, CBN injects $142.5m into foreign exchange market
…as Naira exchamges for N364/$1 The Central Bank of Nigeria (CBN) on Monday injected 142.5 million dollars into the inter-bank foreign exchange, days after intervening in the retail segment of the market with 254.3 million dollars. The spokesperson of the apex bank, Mr Isaac Okorafor, in a statement, said the CBN would continue to carry…
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NCC laments telecoms poor quality of service, promises improvement
The Nigerian Communications Commission (NCC) has promised Nigerian telecoms consumer improved telecommunications services while lamenting the deterioration of Quality of Service (QoS) in the first quarter of the year 2017. “We have seen a deterioration of quality of service across all operators,” NCC Executive Vice Chairman, Prof. Umar Garba Danbatta, noted at a Special Media…
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Foreign Exchange reserves hit $25.5bn as forex scarcity continues
Latest data on the website of the Central Bank of Nigeria, CBN confirms that Nigeria’s foreign exchange reserves have risen to over three-month high of $25bn. The reserves according to the CBN rose to $25.2bn on December 19. Since September, the reserves have gradually dipped low. According to the CBN the reserves recodrded a similar…