Tag: Foreign Exchange
CBN unveils electronic forex matching system to curb speculation
The Central Bank of Nigeria (CBN) has announced the introduction of an Electronic Foreign Exchange Matching System (EFEMS) for foreign exchange transactions in the...
CBN offers $876m to forex market, pledges more liquidity support
The Central Bank of Nigeria (CBN) has offered $876 million to the foreign exchange (forex) market to fulfil bids submitted by customers.
This was disclosed...
Forex: CBN sells $122.671m to 46 dealers
The Central Bank of Nigeria (CBN) has sold the sum of $122,671 million to 46 authorised dealers.
This was disclosed via a statement issued by...
CBN stops forex price verification system portal
The Central Bank of Nigeria (CBN) has announced the discontinuation of its Price Verification System (PVS) Portal, effective July 1, 2024.
The CBN made this...
EFCC arrests 34 for forex fraud in Abuja
The operatives of the Economic and Financial Crimes Commission (EFCC) have arrested 34 suspected currency speculators for alleged foreign exchange fraud.
The suspected currency speculators...
NACCIMA kicks over CBN’s ban lift on FX access for importation
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has condemned the lifting of the foreign exchange restrictions the Central Bank...
CBN records $2.3bn increase in forex inflow
The Central Bank of Nigeria (CBN) says it reported a significant increase in foreign exchange inflow into the economy in February 2024, with marked...
Naira: ONSA partners CBN to stabilise forex market
The Office of the National Security Adviser (ONSA) has announced a partnership with the Central Bank of Nigeria (CBN) to safeguard foreign exchange market...
Atiku: Tinubu’s FX policy put together without plans, consultations
The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, Atiku Abubakar, says the foreign exchange (FX) management policy of President...
CBN pays foreign airlines $61.64m FX backlog
The Central Bank of Nigeria (CBN) says it has disbursed approximately $61.64 million to foreign airlines through various banks, in fulfilment of its commitment...
