Tag: Forex
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Punch pulls report on CBN converting dollars in domiciliary accounts to naira
Nigerian newspaper Punch has pulled down a report it published on Saturday, suggesting the Central Bank of Nigeria (CBN) planned to convert $30 billion...
Forex backlog audit reveals irregularities of $2.4 billion, says CBN
The Central Bank of Nigeria (CBN) disclosed on Monday that a forensic audit of the $7 billion overdue foreign exchange transactions, which the bank...
Naira’s fall continues as CBN releases another $500 million for forex backlog
The Central Bank of Nigeria (CBN) says it has released $500 million to various sectors in its effort to address the backlog of foreign...
Cadbury Nigeria gives parent company more stake to settle dollar debt
Nigeria's foreign exchange crisis is forcing a major sweet maker to take bitter medicine.
Cadbury Nigeria, struggling under dollar debt and a devalued naira, plans...
Naira resumes decline as CBN faces more FX backlog
The naira weakened on Wednesday despite efforts by the central bank to clear a backlog of matured foreign-exchange forward contracts. The naira fell to...