The Nigerian National Petroleum Company Limited said the recent hike in the pump price of Premium Motor Spirit (Petrol) was influenced by Foreign Exchange and unrestricted free market forces. According to…
Tag: Forex
CBN Unveils Forex Scandals, Promises Swift Sanctions Amid Economic Challenges
The Central Bank of Nigeria has uncovered infractions, gross abuses, and non-compliance with foreign exchange market regulations. Consequently, the apex bank vowed it would punish those responsible for these abuses in…
After 8-Years, Nigeria Lifts Forex Restrictions On Importation Of 43 Items
VAM News Update THE Central Bank of Nigeria (CBN) has finally lifted the foreign exchange restrictions it placed on the importation of 43 items eight years ago. In a statement released on…
Yusuf: Forex volatility reason for shrink in Nigeria’s manufacturing sector
The Director of the Centre for the Promotion of Private Enterprise, CPPE, Dr Muda Yusuf, said foreign exchange volatility impacted firms’ losses negatively. Yusuf, the former Director-General of Lagos Chamber of…
EFCC invades Black market forex offices over Naira inflation
Operatives of the Economic and Financial Crimes Commission raided the offices of black market currency dealers in Abuja on Tuesday in a bid to halt the rapid fall of the naira. Premium…
BREAKING: CBN Stops Forex Sales To Bureau De Change Operators
The Central Bank of Nigeria has stopped the sales of forex to the Bureau De Change operators in the country with immediate effect. The CBN Governor, Godwin…