By Business A.M. The Central Bank of Nigeria (CBN) has directed commercial banks to trade Foreign Exchange (FX) freely on the

Onome Amuge The Central Bank of Nigeria, (CBN) is set to impose forex restrictions on the importation of sugar and wheat into the

After many weeks of absence from the foreign exchange market during which huge unmet forex demands piled up, the Central Bank of

BY: Moses olajuwon Obajemu Banks and other firms in the country have been groaning over their inability to raise enough forex to meet

BY: Moses olajuwon Obajemu The country’s foreign reserves continued its descent last week as it declined by $544.94m from $36.17bn on

Foreign exchange scarcity has triggered further fall of the naira in the parallel market where it now exchanges at N472 to a dollar on

By Moses Obajemu The CBN’s foreign reserves sustained its descent as forex outflows continue to outpace inflows, thus dipping by

Nigeria’s foreign reserves dipped by $454.05m from $36.57bn on June 1 to $36.12bn on July 15, according to data from the from

By Omobayo Azeez Indications are rife that by the end of this year, Naira, Nigeria’s local currency will be further devalued to

As the Central Bank of Nigeria rejigs the forex market as a prelude to rate unification and further devaluation of the naira, currency