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    Kapital FM 92.9 The Station that Rocks!

FOREX

5 Results / Page 1 of 1
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National

CBN Disburses $500m To Clear Forex Liabilities Backlog

In its determination to address the backlog of verified foreign exchange transactions, the Central Bank of Nigeria, CBN has disbursed 500 million dollars to various sectors. This comes barely a week after the Bank paid approximately two billion dollars to settle outstanding commitments across manufacturing, aviation, and petroleum sectors. The CBN's Acting Director Corporate Communications Department, Mrs. Hakama Sidi-Ali, who stated this in Abuja noted that the Management of the […]

todayJanuary 29, 2024 31 2

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Business

Insecurity: Military Blames Forex, Demands Special Court For Terrorists

The Chief of Defence Staff, Major General Christopher Musa, on Tuesday lamented the delay in the trial of suspected Boko Haram members, saying there should be a special court for terrorists. Musa, who stated this when he alongside other security chiefs, appeared before the House of Representatives on Tuesday for the commencement of a sectoral debate, justified the huge budget for arms purchase. The CDS explained that because Nigeria is […]

todayNovember 22, 2023 5

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Economy

Nigerians Spend $340.84m Forex On Education In Six Months – CBN

Nigerians seeking admissions to foreign universities spent $340.84m to fund their application between January and June 2023, findings by the PUNCH have shown. This figure is according to the Central Bank of Nigeria’s data on the amount spent on educational services under the sectoral utilisation for transactions valid for foreign exchange. The apex bank said that in April 2023, a total of $40.54m was spent on foreign education, while noting […]

todayOctober 30, 2023 24

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Business

Forex Market : CBN Lifts Ban On All 43 Items

The Central Bank of Nigeria has removed the restriction it placed on access to official foreign exchange market for importation of 43 items, 9 years after. The statement assures that the apex bank will continue to intervene at the official foreign exchange market to meet the rising demand. It says the CBN is actively working to address the existing backlog of foreign exchange transactions. Although the value of the naira […]

todayOctober 13, 2023 5

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Business

Dollar Now N876 As Forex Shortage Worsens

The naira maintained its downward trend against the dollar as it traded for 876/$ at the parallel market on Sunday. Some Bureau de Change operators, who spoke to The PUNCH, said the local currency had earlier exchanged to the dollar at 820 a week earlier. Since the unification of the exchange rates in the country by the Central Bank of Nigeria in recent weeks, the naira had continued to slide to […]

todayJuly 24, 2023 33

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