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Farooq

Posts Tagged "forex policy"

HomePosts Tagged "forex policy"

Dollar injections into the economy estimated at $9 billion since February have helped the Central Bank of Nigeria (CBN) to achieve long-term naira stability and curb volatility in the foreign exchange (forex) market, The Nation has learnt. The CBN has, in the last nine months, sustained its weekly dollar interventions in the forex market; a large part […]

The World Bank has blamed Nigeria’s enduring foreign exchange instability on the fixed exchange regime in the official forex market. In a publication on African economies titled: ‘Africa’s Pulse,’ the World Bank singled out Nigeria and Angola as two countries that had yet to experience stability in the forex market despite rebound in the prices […]

  • dollar to naira

A financial expert, Dr Uche Uwaleke, says the new foreign exchange window created for investors will encourage return of portfolio investors to the capital market. Uwaleke, the Head of Banking and Finance Department in Nasarawa State University, Keffi, made the observation in an interview with the News Agency of Nigeria (NAN) in Lagos on Monday. […]

On February 20, the Central Bank of Nigeria (CBN) put in place a new foreign exchange (Forex) policy on personal travel allowances and school fees in a bid to strengthen the naira. The bank said it took the decision to make foreign currency exchange easier for Nigerians and reduce the stress often caused by currency […]

Anna Okon and Success Nwogu The Manufacturers Association of Nigeria has faulted the implementation of the Central Bank of Nigeria’s directive on 60 per cent forex allocation to manufacturers, describing it as very poor.  The President of the association, Dr. Frank Jacobs, stated this in Lagos on Thursday during the MAN Annual Media Luncheon. MAN, […]

Following the disclosure by the Central Bank of Nigeria(CBN) that it would continue to fine tune the foreign exchange policy, expectations are high, given the challenges that had beset the forex system and attendant effects on the economy, write Kunle Aderinokun and Olaseni Durojaiye As the country continues to grapple with shortage of foreign exchange, […]

Fillippo Amato, an official of the European Union (EU), has advised the federal government to devalue the naira as part of measures to tackle the economic recession. Amato, counsellor, head of trade and economics section of EU, made this known in an interview with NAN on Monday He said recession could not be addressed with […]

  • CBN

Comfort Oseghale Following the commencement of the implementation of the new foreign exchange policy, which moves the naira to dollar exchange rate from 197 to a minimum of 280, customs duties on imported cargoes have risen by about 43 per cent. Prior to the adjustment of the exchange rate, the duties on imported items had […]