By InvestAdvocate Lagos (INVESTADVOCATE)-The naira on Wednesday declined N230 to a dollar from N226 recorded on Tuesday as importers sought alternative sources for dollars after the Central Bank of Nigeria (CBN) stopped foreign-currency funding for some imports, according to a Bloomberg report quoting Aminu Gwadabe, president of the Association of […]
Money Market
CBN Warns Authorised Dealers on Funding Items Classified “Not Valid for FOREX”
By InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Wednesday warned authorised dealers on funding of classified items regarded as “Not Valid for Forex”. This is contained in a circular with reference number TED/FEM/FPC/01/012 dated July 1, 2015 and signed by Olakanmi Gbadamosi, director, Trade & Exchange Department. The […]
CBN Lowers FOREX Benchmark, Naira Slides 0.88% in Black Market
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Tuesday lowered its foreign exchange (FOREX) benchmark as the naira falls to N228 to the dollar on the parallel (black) market, down 0.88 percent from the previous day, according to a Reuters report. The report says on the […]
