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Tag "Foreign exchange"

Zenith Bank suspends int’l transactions on naira cards Jan 9

    Zenith Bank suspends int’l transactions on naira cards Jan 9

Zenith Bank says it will suspend international transactions on its naira cards from Monday, January 9, 2023. The bank said this in a recent notice to customers. In March last

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Naira depreciates further, exchanges for N750/$ at parallel market

    Naira depreciates further, exchanges for N750/$ at parallel market

The naira, on Tuesday, declined further against the dollar at the parallel section of the foreign exchange (FX) market, popularly called the black market. A parallel market (black market) is

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Nigeria makes N14bn annually from cashew export — but needs to process more, say traders

    Nigeria makes N14bn annually from cashew export — but needs to process more, say traders

The National Cashew Association of Nigeria (NCAN) says the country makes N14 billion annually from exporting cashew, but there needs to be more focus on processing. Ojo Ajanaku, national president,

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MAN: 2035 fossil fuels deadline will affect Nigeria’s rigid economy

    MAN: 2035 fossil fuels deadline will affect Nigeria’s rigid economy

The Manufacturers Association of Nigeria (MAN) says the 2035 deadline to eradicate fossil fuels will strongly affect Nigeria’s economy. Fossil fuels are hydrocarbon-containing materials formed naturally in the earth’s crust

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From FX scarcity to tariff hikes… importers, agents lament rising cost of doing business

  From FX scarcity to tariff hikes… importers, agents lament rising cost of doing business

Trade is the main engine of development strategies because of the implicit benefits on job creation, expansion of markets, incomes,

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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

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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

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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

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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.

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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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