CBN Forex Policy Archives

parallel market, Covid-19: N3.5 trillion disbursed as stimulus package for the Nigerian economy, CBN Vs NESG: Waving the white flag for the benefit of Nigerians, Exchange Rate Unification: CBN devalues official rate to N380/$1, Nigerian banks have written off N1.9 trillion impaired loans in past 4 years, CBN sandbox operations, Stirling Trust Company Limited, Key highlights of the October 2020 Business Expectations Survey Report, A Total of N3.5 trillion was disbursed in the wake of the COVID-19 pandemic, in addition to several other interventions to reflate the economy - CBN, BOFIA 2020: Steps forward or backwards for Nigerian banks, Total credit to the economy rose to N19.54trillion – CBN Governor

Speculations started March 12 that the naira might be devalued. This is a timeline of every decision taken since the ...

New CBN guidelines ban MMOs, PSPs, Operators from receiving diaspora remittances

by Nairametrics

December 17, 2020

0

The Central Bank of Nigeria has issued additional guidelines for diaspora remittances in the country

CBN forex restrictions on food itemsCBN approves new cheque standard for banks, Banks complex documentation makes it harder to access foreign exchange for Nigerians

CBN promises to sustain FX restrictions on import of food items that can be produced locally

by Chidi Emenike

November 9, 2020

0

The CBN has reiterated its stance on sustaining FX restrictions on food items that can be produced and consumed locally.

4 selected Maize importers will not be affected by Buhari forex for food ban

by William Ukpe

September 11, 2020

1

Companies recently given approval to import maize will not be affected by the President's directive.

No foreign exchange for food and fertilizer importers – Buhari

by William Ukpe

September 11, 2020

0

The President would rather empower local farmers and producers than give forex to importers of fertilizer.

diaspora remittances, Total credit to the economy rose to N19.54trillion – CBN Governor, CRR debits, P-AADS, #EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities, Covid-19: Court closures impacted revenue generation for courts - Emefiele, P&ID dispute: UK Court orders $200 million guarantee to FG, Leaked letter by Poultry Farmers Association triggered CBN emergency approval to import maize, nImplications of CBN's latest devaluation and FX unification, current account deficit, IMF, COVID-19, CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele , Increasing food prices might erase chances of CBN cutting interest rate , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex), Overnight rates crash after CBN’s N1.4 trillion deduction, Nigeria’s foreign reserves hit $36.57 billion; Emefiele keeps his word on defending the naira, CBN to support maize farmers, projects 12.5 million metric tons in 18 months, BREAKING: CBN Upscales Greenwich Trust Limited, grants it's operational license for merchant banking, AGSMEIS: CBN expand beneficiaries to 14,638., CBN expands access to mortgage financing

Emefiele insists CBN will not sell forex for importation of items produced in Nigeria

by Abiola Odutola

May 19, 2020

0

FG is determined to return the Nigerian economy to the period when the manufacturing and agricultural sectors formed the base ...

COVID-19 could save naira from depreciating further, Many odds against the naira, Naira forwards and parallel market crash puts pressure on official exchange rate, Naira appreciates to N386.94 to $1 at investor and exporters window. , Naira set for recovery as ABCON issues guideline to members for forex sales resumption, Naira falls against the Euro, British pound sterling but gains against the U.S dollar, Naira falls at black market, dollar liquidity remains relatively low , Forex, Naira drops further at the black market despite appreciating at I&E window

Naira drops to N387.25 at Investor and Exporters window

by Chike Olisah

May 9, 2020

0

The exchange at the start of the week was N385.33.

CBN reveals framework for the N75 billion Youth Investment Fund, Economic Growth, CBN, Governor, Emefiele, CBN releases new capital base, sanctions for Microfinance Banks, Nigerian Banks broadly positive after naira devaluation, Naira hits N465 to $1, Central Bank begins disbursing $100million to hit at currency speculators, CBN appoints 3 Pre-Shipment Inspection and 2 Monitoring Agents for non-oil exports

Naira hits N430 per $1 as CBN restates dollar sales

by Olumide Adesina

May 4, 2020

2

As Nairametrics previously reported, the apex bank informed Nigerians that it will resume the provision of Forex to all commercial ...

Exchange rate depreciates at NAFEX window as forex liquidity drops further by 57%, Central Bank Continues intervention in Forex market to stabilize Naira, Naira to depreciate slightly over $1.52 billion maturing contracts expires, Naira hits N388.84 to $1 at the currency spot market, Investors and Exporters (I&E) window, Naira weakens against the dollar by 1.14% amidst uncertainty, Naira gains against the dollar at I&E window, forex liquidity up by 242%

Naira to depreciate slightly over $1.52 billion forward contracts

by Olumide Adesina

April 30, 2020

0

Currency traders are expecting the naira to fall slightly today, due to the maturing $1.52 billion April 29 contract.

FG warns Nigerians about on-going N3million COVID-19 grant scam, IMF, World bank loans, Over 56% of 2019 budget expenditure was released for capital projects , FG changes decision to sell stake of oil assets in JVs, Finance Bill: Nigeria exempts small businesses from Company Income Tax , Finance Bill is for the good of Nigerians – Finance Minister, Zainab Ahmed, Nigeria, five other West African countries reject ‘Eco’ as ECOWAS single currency, FG rejects calls for tax reduction, tax relief for donors to intervention funds, Nigerian economy going into recession, might contract by -8.9% - Finance Minister, Nigeria to spend $33.20 billion in 2021 up 17.2%, will spend 25% of budget on debt servicing - Finance Ministry, COVID -19: FG accesses $750m loans from World Bank for states

What FG told IMF on flexible, unified exchange rate

by Chike Olisah

April 30, 2020

1

More currency flexibility would help to protect dwindling external reserves and avert economic distortions, leaving them to only intervene when ...

Tag: CBN Forex Policy

CBN’s forex policies: Timeline between Covid-2020 and 2021