The Director-General of NECA, Timothy Olawale, while reacting to the directive, told reporters in Lagos that although the directive might be well intended, it left much to be desired in the absence of a buffer time for adjustment.
Figures obtained from the CBN on Tuesday indicated that authorized dealers in the wholesale sector of the market received $100 million, while the Small and Medium Enterprises and the invisibles segments were allocated the sum of $55 million each.
The Lagos Chamber of Commerce and Industry says the exclusion of all forms of textile materials from the foreign exchange market pose a threat to the N5 trillion fashion industry.
The Central Bank of Nigeria has placed access to foreign exchange for all forms of textile materials on the FOREX restriction list, the Governor, Godwin Emefiele, announced in Abuja on Tuesday.
The Central Bank of Nigeria has injected the sum of $210 million into the inter-bank Foreign Exchange Market.
In continuation of its periodic intervention in the foreign exchange market, the Central Bank of Nigeria on Tuesday injected another sum of $210 million into the inter-bank foreign exchange market.
The Central Bank of Nigeria has continued its intervention in the inter-bank sector of the Foreign Exchange market by injecting another sum of $210 million into the forex market.
The Central Bank of Nigeria on Friday made its first intervention in the inter-bank sector of the Foreign Exchange market for 2019 with a total sum of $210 million injected into the wholesale segment and other sectors of the market.
CBN Director, Corporate Communications, Isaac Okorafor, said the sale in the Chinese Yuan was done through a combination of Spot and Short-tenored Forwards.
The operators, mainly Nigerians resident in Madinah, transact their businesses in secret as they approach pilgrims in their hotels in groups or individually to introduce the business deal.
In a statement on Tuesday in Abuja, he said 100 million dollars was allotted to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises segment got 55 million dollars.
According to him, the bank, in its desire to meet customers’ needs, offered 100 million dollars to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises segment got 55 million dollars.
Alhaji Aminu Gwadabe, President, Association of Bureaux Des Change Operators of Nigeria, has called on the CBN to harmonise the…
Figures obtained from the Bank on Tuesday indicated that the Wholesale sector of the market got a boost of $100 million, while the Small and Medium Enterprises and invisibles sectors were each offered $55 million.
According to figures released by the Bank, the CBN offered $100 million to authorized dealers in the wholesale segment of the market, while the Small and Medium Scale Enterprises segment received the sum of $55 million.
Figures obtained from the Bank indicated that the sum, as in previous interventions, were in favour of interests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.
now that the problem of Forex had been settled, more French businesses
A licensed BDC operator in Abuja, Alhaji Yusuf Rabiu, said the recent raid of bureau de change establishments by the Economic and Financial Crimes Commission forced the operators to reach such an agreement
According to the statement, the CBN Governor, Godwin Emefiele, said there was no preferential exchange rate of any sort to intending pilgrims
He said the increase in import duties was not in the interest of the masses, adding that it would increase the costs of doing business as well as prices of imported goods