Rep disagrees, as AGF says DSS, NSA, NAFDAC have joined loot recovery drive

The Federal Government, has revealed that more of its agencies have joined the loot recovery drive. According to the Attorney-General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami, the agencies include the Department of State Services (DSS), office of the National Security Adviser (NSA), the National Agency for Food and Drug Administration…

CBN continues forex liquidity boost with additional $240m

The Central Bank of Nigeria (CBN) on Monday continued boosting the country’s foreign exchange liquidity with 240 million dollars, part of which 150 million dollars will go to dealers in the interbank wholesale window. Those who stand to gain from the sales through the interbank wholesale auction window include manufacturers, importers of aggro-machineries, plants and……

CBN should take price of dollar to N340-N350 – Rewane

The chief executive officer of Financial Derivatives, Bismarck Rewane, has called on the Central Bank of Nigeria (CBN), to resist price fixing and allow the Naira depreciate to “maybe 340, maybe 350″. He stated this while speaking to Channels Television on Monday. Rewane said: “The central bank can intervene with whatever the resources they have,…

Recession: CBN determined to further crash the dollar

Central Bank of Nigeria, CBN, on Sunday has again shown its determination to nsure Naira gains further strength by sustaining the provision of foreign exchange to end users. Acting Director, Corporate Communications, Isaac Okorafor, in a statement said CBN wants to disabuse the notion by market speculators that it wouldn’t be able to sustain its forex……

Dollar will crash further – CBN

Central Bank of Nigeria, CBN, on Sunday reiterated its determination to sustain the provision of foreign exchange to ensure Naira gains further strength as well as been available to end users. Acting Director, Corporate Communications, Isaac Okorafor, in a statement said CBN wants to disabuse the notion by market speculators that it wouldn’t be able…

CBN reiterates determination to sustain foreign exchange liquidity

The Central Bank of Nigeria (CBN) on Sinday reiterated its determination to sustain the provision of foreign exchange with a view to ensuring liquidity in the market and enhance accessibility and affordability for genuine end users. The apex bank’s acting Director, Corporate Communications; Mr Isaac Okorafor in a statement on Sunday said the bank wants……

NSE RoundUp! Nigerian equities in modest rally amidst earnings rush

Nigerian equities closed the last trading week of the quarter at the weekend with improved buying sentiments as quoted companies rushed to meet Friday March 31, deadline for the submission of their full-year earnings for the 2016 business year. Not less than 40 companies submitted their full-year annual reports on Friday alone and almost 60…

Central Bank of Nigeria Releases Telephone Line to address Forex issues

    (VON) The Central Bank of Nigeria (CBN) has released an emergency mobile phone line for customers denied access to foreign exchange by banks for medical bill and school fees. CBN also released email address for immediate complaint against any commercial bank that denies a customer access to foreign exchange. The customers have been…

Why Naira depreciates despite CBN intervention – Experts

Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria (ABCON), has blamed the recent depreciation of naira on the speculators’ onslaught and resistance by the banking industry. Gwadabe told the News Agency of Nigeria (NAN) on Saturday in Lagos that the refusal of some banks to sell the invisibles such as…

External reserves hit two-week low as naira weakens

The country’s external reserves fell to a two-week low and the naira eased on the black market on Friday after the Central Bank of Nigeria pledged to step up dollar sales. This came just as the CBN said it would announce a new exchange rate for Bureau De Change Operators next week, Reuters reported. The…

Expert explains why Naira falls in spite of CBN’s intervention

Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria (ABCON), has blamed the recent depreciation of naira on the speculators’ onslaught and resistance by the banking industry. Gwadabe told the News Agency of Nigeria (NAN) on Saturday in Lagos that the refusal of some banks to sell the invisibles such as……

CBN urges Nigerians to report banks that refuse to sell Forex

The Central Bank of Nigeria (CBN) has urged Nigerians to report any bank that refuses to sell Forex to them at the approved rate within 24 hours. This was contained in a statement released on Friday, by CBN’s Acting Director, Corporate Communications, Isaac Okorafor. He warned customers not to purchase dollar at any bank beyond…