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Tag "Foreign exchange"

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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Ministerial nominee asks FG to build modular refineries to boost petrol supply

    Ministerial nominee asks FG to build modular refineries to boost petrol supply

Henry Ikoh, a ministerial nominee, has advised the federal government to establish modular refineries in Nigeria Delta communities to help boost Nigeria’s petrol supply chain.  The development comes amid the

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Twitter ban, embargo on SIM card sales… decisions that impacted Nigerian economy in 2021

    Twitter ban, embargo on SIM card sales… decisions that impacted Nigerian economy in 2021

As 2021 draws the curtain to usher in 2022, it is important to look at some of the events that impacted the economy. While many Nigerians believe that nothing can

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Xola Collective: CBN has changed the narrative in Nigeria’s agricultural landscape

    Xola Collective: CBN has changed the narrative in Nigeria’s agricultural landscape

Xola Collective, a not-for-profit, non-partisan think tank organisation, has commended the Central Bank of Nigeria (CBN) for its intervention programmes. The group said in a statement issued over the weekend.

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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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BDC operators: CBN’s decision to halt FX sales doesn’t hinder us from providing service

  BDC operators: CBN’s decision to halt FX sales doesn’t hinder us from providing service

The Association of Bureaux De Change Operators of Nigeria (ABCON) says a recent decision by the Central Bank of Nigeria

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CBN: FX spending on food importation dropped by half in January

  CBN: FX spending on food importation dropped by half in January

The Central Bank of Nigeria (CBN) says foreign exchange (FX) utilisation for food importation dropped by half in January. The

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LCCI: Majority of Nigeria’s debt not tied to specific projects

  LCCI: Majority of Nigeria’s debt not tied to specific projects

The Lagos Chamber of Commerce and Industry (LCCI) says majority of Nigeria’s borrowings are not tied to assets and specific

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Amid sustained industry headwinds, any respite for manufacturers in 2021?

  Amid sustained industry headwinds, any respite for manufacturers in 2021?

The year 2020 was challenging for manufacturers of consumer goods as firms across the globe grappled with the negative impact

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Oil prices hit $50 on COVID-19 vaccine rollout

  Oil prices hit $50 on COVID-19 vaccine rollout

Oil prices touched their highest level since March on Thursday, as hopes of swifter-than-thought vaccine rollout fueled bullish expectations of

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