March 3, 2016 By Oyetunji Abioye The naira gained six per cent against the United States dollar at the parallel market on Wednesday, closing at 310 against the greenback, foreign exchange dealers said. The local currency, which went for between 325 and 330 for one dollar on Tuesday, had been […]
Tag: Dollar
Forex: 200 firms risk closure, says MAN
March 3, 2016 By Anna Okon Of the over 2,000 manufacturing firms in the country, more than 200 will be closing shop in the next two months due to lack of raw materials to continue production, according to findings by our correspondent. The President, Manufacturers Association of Nigeria, Dr. Frank […]
Forex scarcity: Banks in multi-million-dollar racketeering
February 13, 2016/Punch Commercial banks in the country are raking in millions of dollars from a foreign exchange racketeering which has been fuelled by the acute shortage of hard currency in the economy, investigation by the Saturday PUNCH has revealed. The Central Bank of Nigeria has been rationing forex to […]
