Tag: FX
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CBN injects $197.71m to boost fx liquidity
The Central Bank of Nigeria (CBN) on Friday supplied a total of $197.71 million to the foreign exchange market through sales to authourised dealers. The apex bank’s Director of Financial Markets Department, Dr Omolara Duke, disclosed this in a statement on
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Naira strengthens massively against Dollars
The naira experienced a significant appreciation against the dollar on Wednesday in the official foreign exchange market.
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Central Bank’s Naira float boosts Government revenue to N581.71 Billion in FX
The Nigerian government generated N581.710 billion in revenue from foreign exchange differences in July 2024, as per the Federation Account Allocation Committee’s July communique.
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How banks could have avoided the FX gains tax through CSR – By Magnus Onyibe
In a society where a few live in luxury while many struggle in poverty, it’s not surprising that feelings of envy, jealousy, and even resentment arise among the less fortunate towards those who are well-off.
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FG hits Binance with $10bn fine over FX crisis
The cryptocurrency trading platform, Binance, has been hit with a $10 billion fine by the federal government of Nigeria for allegedly impacting the nation’s forex crisis. Bayo Onanuga, special adviser on information and strategy to Presiden
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Naira continues free fall, drops to all time low
Naira has continued its free fall as it fell to an all-time low against the US dollar, at the official and parallel foreign exchange markets, worsening the nation’s FX crisis. Data from FMDQ showed that the naira depreciated from N1,574.62 per US dollar on Monday to N1,537.96 on Friday last week.
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CBN gov, Cardoso reveals current total outstanding FX obligations
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has said current total outstanding FX obligations stood at $2.2 billion.
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Dangote reacts, gives update on EFCC’s visit to head office
The Chairman of the Dangote Group, Aliko Dangote, on Saturday, has given an update on the recent visit of officials of the Economic and Financial Crimes Commission (EFCC) to its head office. EFCC officials visited the Dangote Group headquarters in Lagos over
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FG set to go after stockpile of foreign currencies in domiciliary accounts
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun has disclosed the intentions of the federal government to go after the stockpile of foreign currencies in domiciliary accounts.
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US Dollar fights back as Naira falls to N1, 000/$ at official market
After few days of the Naira strengthening against the Dollar, at both official and the official and parallel markets, findings show that Dollar is fighting back.