The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has revealed that security agencies including the Economic and Financial Crimes Commission are currently investigating questionable foreign exchange allocations and…
forex
Peter Obi Criticizes EFCC Raid on BDCs, Warns of Worsening Forex Situation
Former Vice Presidential candidate and 2023 Labour Party presidential hopeful, Peter Obi, has criticized the recent raid by the Economic and Financial Crimes Commission (EFCC) on Bureau De Change (BDC)…
Former President Olusegun Obasanjo says Nigeria should diversify, cut dependence on crude.
Former President Olusegun Obasanjo has said that Nigeria needs to shift from a mono-economy that is solely dependent on crude oil so as to overcome the forex crisis that has…
Naira Falls To One Thousand And Forty Nine Naira After CBN Restores Items
A day after the Central Bank of Nigeria (CBN) lifted forex restrictions on importing 43 items, the pressure on the foreign exchange (FX) market continued on Friday morning as the…
Central Bank of Nigeria Lifts Forex Ban On Forty-Three 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 Foreign Exchange (FX) market from “time to time”. Recall…
Naira Falls Further Against Dollar As Demand Increases
The Naira on Tuesday fell to one thousand, ten naira per dollar following rising demand for the greenback on the parallel segment of the foreign exchange market. This represents zero…