CBN clears air on currency conversion
The Central Bank of Nigeria (CBN) has clarified that there is no plan to convert $30bn domiciliary deposits to naira. Some media reports emerged at the weekend announcing that the Federal Government and the apex banks were considering the conversion of foreign currencies in domiciliary accounts of citizens to naira to stabilise Nigeria’s currency, which […]
CBN releases US$500 million to various industries to further alleviate the backlog of confirmed foreign exchange transactions
The Acting Director of the Corporate Communications Department at the CBN, Mrs. Hakama Sidi Ali, stated this in Abuja on Monday, noting that the management of the CBN was committed to settling all legitimate foreign exchange backlogs within a short time frame. Reiterating the assurances of the Governor, Mr. Olayemi Cardoso, Sidi Ali said the […]