By Obinna Chima For the second time since banks started publishing their returns on foreign exchange (forex) utilisation purchased from the Central Bank of Nigeria (CBN), Zenith Bank Plc got the highest allocation garnering a total of $24,547,235.36 million. Zenith Bank was in fourth place in last week’s review of […]
Tag: U.S Dollar
IMF Says Identifies Chinese Renminbi in Currency Composition of Forex Reserve Effective October 1
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Global lender, the International Monetary Fund (IMF) said on Friday it will separately identify the renminbi (RMB) in its official foreign exchange reserves database starting October 1, 2016. “The change will be reflected in the survey for the fourth quarter of 2016 that will be […]
$20bn idle in Nigerians’ domiciliary accounts –CBN
March 4, 2016 By Sunday Aborisade The Central Bank of Nigeria on Thursday raised the alarm that about $20bn (N3.94tn) was lying idle in different domiciliary accounts of the citizens. The Deputy Governor, Financial System Surveillance, CBN, Dr. Joseph Nnana, stated this during a meeting of the Joint Appropriation Committees […]
