Forex
Senate rejects bill to control, monitor forex market in Nigeria
The Senate on Thursday unanimously rejected a bill which seeks to control and monitor a foreign exchange market in the country. The bill, Foreign Exchange (Control And Monitoring) Bill, 2024 (SB. 353), was sponsored by the Senator representing Niger East, Sani Musa. Checks revealed that it was first read on the floor of the Red […]
CBN Injects Fresh $500m Into Forex Market
The Central Bank of Nigeria (CBN) has committed $500 million into the forex market. Hakama Sidi-Ali, Acting Director of the Corporate Communications Department at the CBN, disclosed this in a statement on Monday. Sidi-Ali reiterated the bank’s commitment to “settling all legitimate foreign exchange backlogs within a short time frame.” She also assured Nigerians that […]
Dangote Opens Up On Forex Allocations, Says EFCC’s Visit Embarrassing
Dangote Industries Limited has opened up on the last week visit by officials of the Economic and Financial Crimes Commission (EFCC) to its headquarters in Lagos, describing it as embarrassing. While pledging it was ready to assist the Commission in its investigations, the indigenous conglomerate in a statement disclosed that it received a letter from […]