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TheCable

Tag "Dollars"

Agusto: CBN should adjust forex rate, adopt 10% annual naira depreciation

    Agusto: CBN should adjust forex rate, adopt 10% annual naira depreciation

Olabode Agusto, founder, Agusto & Co, a credit rating agency, has advised the Central Bank of Nigeria (CBN) to adopt a “crawling peg” to manage the country’s foreign exchange.  A

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Naira slides to N707/$ at parallel market as FX scarcity persists

    Naira slides to N707/$ at parallel market as FX scarcity persists

Nigerian naira, on Wednesday, weakened to N707 a dollar at the parallel section of the foreign exchange market.  The figure represents N42 or 7.45 percent depreciation compared to the N658

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‘It’s a recipe for high poverty, unemployment’ — expert counters Osinbajo on moving naira exchange rate

    ‘It’s a recipe for high poverty, unemployment’ — expert counters Osinbajo on moving naira exchange rate

Uche Uwaleke, a professor and financial expert, says the devaluation of the naira will worsen poverty and unemployment in Nigeria. Uwaleke made the comment in reaction to Vice President Yemi

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Report: CBN to inject more dollars in banks to increase FX supply

    Report: CBN to inject more dollars in banks to increase FX supply

The Central Bank of Nigeria (CBN) says it will pump more dollars to authorised banks on Friday to boost foreign exchange (FX) supply in the economy.  According to ThisDay, senior

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Don’t sell FX to customers not travelling abroad, EFCC warns banks

  Don’t sell FX to customers not travelling abroad, EFCC warns banks

The Economic and Financial Crimes Commission (EFCC) has warned banks against selling foreign exchange (FX) to customers with no intention

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Firm files petition in US court, wants FG to pay arbitral award in dollars

  Firm files petition in US court, wants FG to pay arbitral award in dollars

Piccol Nigeria Ltd, an engineering firm, has filed a petition against the federal government of Nigeria at the United States

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Gumi: Once Obasanjo decides, it is our duty to follow

  Gumi: Once Obasanjo decides, it is our duty to follow

In this interview journalists, Ahmad Gumi, one of the clerics who accompanied former Vice-President Atiku Abubakar during the reconciliation with

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Controversy over video of Ganduje ‘collecting dollars’ from contractors

  Controversy over video of Ganduje ‘collecting dollars’ from contractors

A video of Abdullahi Ganduje, governor of Kano state, allegedly receiving kickback from contractors is currently trending on social media.

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Sterling dragged back into the spotlight

  Sterling dragged back into the spotlight

The potential threat of complications and confrontations during Brexit negotiations could rekindle hard Brexit fears and expose Sterling to downside

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After pumping $768m into market, CBN promises more

  After pumping $768m into market, CBN promises more

After pumping a total of $768 million into the forex market in one week, the Central Bank Nigeria (CBN) has

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