20/2/2017/Reuters South Africa’s Competition Commission has fined the local arm of Citigroup 69.5 million rand ($5.3 million) for its role in a foreign currency trading cartel, the regulator said on Monday. The Competition Commission said last week that it had found that traders at more than a dozen local and […]
Updates
Naira hits 520/dollar, forex retailers examine CBN action
21/2/2017/Punch Oyetunji Abioye The naira tumbled to 520 against the United States dollar at the parallel market on Monday as scarcity of the greenback continued to keep the exchange rate in a free fall mode. The naira had closed at 516/dollar on Friday, after hitting 510/dollar and 507/dollar last Thursday […]
CBN Unveils New Policy Actions in the FOREX Market
February 20, 2017/CBN In continuation of efforts to increase the availability of Foreign Exchange in order to ease the difficulties encountered by Nigerians in obtaining funds for Foreign Exchange transactions, the Central Bank of Nigeria (CBN) is providing direct additional funding to banks to meet the needs of Nigerians for Personal […]
