The naira dropped further to 313.5 against the United States dollar at the parallel market on Tuesday as shortage of foreign exchange, especially the greenback, persists in the forex markets. The local currency had traded for 310 to a dollar on Monday. On Tuesday, the naira closed at 199.40 to […]
Tag: bureau de change
Update: We Stopped Selling Forex To BDCs Because Some CBN Directors Owned Them – Buhari
February 5, 2016/The Will President Muhammadu Buhari has disclosed why his government stopped the sale of foreign exchange to Bureau De Change, BDC, operators, noting that the decision was in response to acts of sabotage perpetrated by some directors of the Central Bank of Nigeria, CBN. Buhari, who revealed this […]
Fitch: Nigeria’s Oil Response Has Downside Fiscal, Growth Risks
February 4, 2016/Fitch Ratings statement Fitch Ratings-London-04 February 2016: The Nigerian authorities’ recent economic policy announcements show the response to the oil price shock is coalescing around state-led development to boost economic growth and import substitution to blunt the effects of declining oil receipts, Fitch Ratings says. It is yet […]
