Forex

A court recently placed restrictions on the bank accounts of six online investment companies. Four of these companies recorded about N15 billion turnover in two and a half…

The Economic and Financial Crimes Commission (EFCC) has warned banks against selling foreign exchange (FX) to customers with no intention of travelling outside the country.…

The naira fell further against the dollar at the parallel market on Wednesday after staying steady at 515/$ in recent days. The local currency fell to 517 against the US…

The Bankers’ Committee has raised the alarm that bank customers have started abusing the ban on the sale of foreign exchange (forex) by Bureaux de Change (BDCs). Rising from their meeting yesterday, the…

The Central Bank of Nigeria has directed commercial banks to create mobile applications and alert systems to update customers of their foreign exchange movement. This…

The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to set up teller points to meet legitimate foreign exchange (FX) demands. This…

The naira has dropped to N522 to a dollar at the parallel market as the Central Bank of Nigeria (CBN) discontinued the sale of foreign exchange (FX) to Bureaux De Change (BDCs) operators…

The Central Bank of Nigeria (CBN) yesterday released a total of $200 million to all commercial banks in the country as part of efforts to meet dollar demand…