Tag: Forex
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FOREX: Manufacturers challenge CBN for priority
The Manufacturers Association of Nigeria (MAN) has called on the CBN to allocate more FOREX to manufacturers to allow for importation of raw materials and machinery.
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Emirates Airlines: Airline chief laments, asks CBN to release blocked funds
Chief Executive Officer of an aviation company, Mr Segun Adewale has urged the Federal Government to expeditiously repatriate the 600 million dollars ticket revenue belonging to foreign airlines operating in the country.
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Aero Contractors shuts down operations
The management of Aero Contractors Company Nig. Ltd., said it would temporarily suspend scheduled passenger services operations from Wednesday. This is contained in a statement issued by the company and made available to newsmen in Lagos on Monday.
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EFCC arraigns suspected fraudster over alleged N7.5m Forex scam
The Economic and Financial Crimes Commission, EFCC, has arraigned Nyani Kubiliru Gabriel before Justice S.U. Bature of the Federal Capital Territory High Court, Maitama, Abuja, for alleged foreign exchange fraud. Gabriel was arraigned on four-count charges bordering on obtaining money under false pretence, cheating, fraudulent conversion and criminal breach of trust.
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Nigeria targets $200bn from non-oil exports – Emefiele
Governor of the Central Bank of Nigeria Godwin Emefiele, has called for collaboration from all stakeholders in the non-oil export value-chain, as the sector has the potential of generating $200 billion in revenue and stimulating growth of the Nigerian economy if properly harnessed. Emefiele made the call on Thursday June 16, at the on-going maiden…
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Forex Trading Mistakes to Avoid
Forex or simply FX, otherwise known as the foreign exchange market is a preferred choice of investment for many people. Trading with currency pairs using the right strategy can yield a significant return on investment (ROI), especially in short-term periods. That’s why there are well over $5 trillion of currencies being traded in the FX…
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Investigation: Real reasons for protracted fuel scarcity and economic implications
TNG’s investigation has revealed that the latest fuel scarcity which was initially thought to be caused by the importation of off-spec gasoline and then panic buying, is now being sustained by a raise in the ex-depot rate from the official N148.77 per litre, to as much as N185 by some private depot owners due to…
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CBN to end sale of FOREX to banks
The Central Bank of Nigeria (CBN) will stop the sale of foreign exchange to commercial banks before the end of the year, its governor, Mr Godwin Emefiele, said in Abuja on Friday.
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Buhari promises to address forex supply for manufacturers
Buhari promises to address forex supply for manufacturers
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