Naira to appreciate soon Bayo Onanuga warns forex speculators
The Presidency has warned forex speculators to discard their Dollars, saying that the Naira will soon appreciate. President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, who made this call in a statement via his X handle yesterday, urged speculators to quickly dump their dollars to avoid “tears.” Onanuga was reacting to the […]
CBN mandates FX sellers to Bureau De Change of the equivalent of 10,000 dollars and above to declare their forex sources
Haruna Mustapha, Director, Financial Policy and Regulation Department of the CBN, said this in a revised regulatory framework to curtail excesses of BDCs and check uncertainty in the foreign exchange market. Mustapha said that such sellers would also be required to comply with all Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) regulations. The guidelines also […]
CBN disburses $61m to foreign airlines to settle mature foreign exchange backlog
The Central Bank of Nigeria (CBN), says it has disbursed 61.64 million dollars to foreign airlines through various Deposit Money Banks (DMBs). According to a statement issued by its Acting Director, Corporate Communications, Mrs Hakama Sidi-Ali in Abuja on Sunday, the disbursement is in fulfilment of CBN’s commitment to eliminate the backlog of pending matured […]