The foreign exchange broker was arraigned alongside his company, ITM-IT Resources Limited, on an eight-count charge.
Browsing: FX
The Director, Trade and Exchange Department of the CBN, Dr. Hassan Mahmud, made this known in a circular.
LCCI made the commendation in a press statement signed by its President/Chairman of Council, Asiwaju Michael Olawale-Cole.
The list of the 43 items affected by Thursday’s pronouncement of the Central Bank of Nigeria on the Foreign Exchange market is reproduced below in this article by The Eagle Online.
Mr. President was not happy with the dual exchange rate of the dollar as operated by the previous administration.
The CBN on Monday, August 30th issued a circular (BSD/DIR/PUB/LAB/14/059) to all banks lamenting that it has “received and noted with concern reports of sharp practices by some unscrupulous customers to circumvent the new CBN policy on the sale of forex for overseas personal and business travel”.
Godwin Emefiele, the CBN Governor, who has shown capacity and pluckiness managing Nigeria’s reserve bank these past years of global cum local economic crisis, made this announcement on Tuesday, July 27 while presenting a communique from the Monetary Policy Committee (MPC) meeting. He cited unwholesome business practices of the BDCs which run contrary to the rules of engagement thus putting much strain on the naira.
The directive follows the CBN’s decision to discontinue sale of FOREX to Nigerians through the Bureaux de Change operators.
Reliable sources close to Nairametrics indicate tier one lender, Zenith Bank, could earn close to N100 billion or more as gains from derivatives and treasury bills trading in the 2018 financial year.
Also, the market capitalisation inched N242 billion or 2.40 per cent to close at N10.347 trillion against N10.105 trillion recorded on Tuesday.