Tag: FX rates
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CBN relaxes restrictions on fx rates
The Central Bank of Nigeria (CBN), has removed the allowable limit of exchange rate quoted by the International Money Transfer Operators (IMTOs). This is according to a circular signed by Dr Hassan Mahmud, the Director, Trade and Exchange Department of the CBN, addressed to IMTOs and the general public.
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CBN lifts forex ban on 43 Items, to intervene in FX market
The Central Bank of Nigeria (CBN) has lifted the forex ban on 43 items and also promised to intervene in the FX market from “time to time”. Recall that the apex bank in 2015 restricted the items from accessing FX from the I&E window, saying they were not valid for foreign exchange and could be…