September 5, 2021/Ecobank Nigeria Managing Director/Regional Executive, Ecobank Nigeria Ltd, Patrick Akinwuntan has said the bank initiated Super Reward Scheme to deepen savings amongst Nigerians, reward and assist customers’ businesses. The Managing Director who was speaking at the presentation of Super Reward grand prize of N1 million cheque to each […]
Money Market
CBN Says Banks to Publish Details of Defaulters of the CBN Policy on Sale of Forex
September 3, 2021/CBN The CBN has received and noted with concern reports of sharp practices by some unscrupulous customers to circumvent the new CBN policy on the sale of forex for overseas personal and business travel. Some of these unwholesome practices include the use of fake visas and cancellation of […]
A Significant Reduction in FX Utilisation
August 31, 2021/Proshare by FBNQuest Research We see from CBN data that total sectoral utilisation of FX declined by -65% y/y and -25% q/q to c.USD5.0bn. In addition to the reduction in aggregate fx utilisation, the pandemic’s influence can be seen in changes in the composition of sectoral forex usage. […]
