Companies recently given approval to import maize will not be affected by the President's directive.
The President would rather empower local farmers and producers than give forex to importers of fertilizer.
Speculations started March 12 that the naira might be devalued. This is a timeline of every decision taken since the first devaluation.
FG is determined to return the Nigerian economy to the period when the manufacturing and agricultural sectors formed the base of the economy.
The exchange at the start of the week was N385.33.
As Nairametrics previously reported, the apex bank informed Nigerians that it will resume the provision of Forex to all commercial banks in Nigeria for onward sales...
Currency traders are expecting the naira to fall slightly today, due to the maturing $1.52 billion April 29 contract.
More currency flexibility would help to protect dwindling external reserves and avert economic distortions, leaving them to only intervene when there are huge fluctuations.
The consistent slide of the naira in the parallel market is a pointer to the fact that CBN may further devalue the naira.
As the country’s external reserve faces more pressure, foreign investors have been held down in Nigeria’s debt market.
