Tag: Forex
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Minister blames naira fall on $6.8bn forex payment backlog
Finance minister Olawale Edun says Nigeria has to clear a $6.8 billion backlog of foreign exchange forward payments before the naira stabilizes.
Forward contracts allow...
Naira at record low on black market, inches closer to 1000 to dollar
Naira fell to a record low on the black market on Wednesday, edging closer to 1000 to a dollar, as Nigeria’s foreign exchange problems...
Olam confirms paying bond for Nigeria director over forex case
Agricultural commodities trader Olam Group has confirmed it paid a bond to secure the release of its director in Nigeria.
The company said Olam Nigeria...
PZ Cussons confirms it’s delisting Nigeria unit amid forex woes
Consumer goods maker PZ Cussons has confirmed it plans to delist its Nigeria unit from the Nigerian stock exchange after buying out 26.73% stake...
Naira tumbles to N900 after brief recovery
The naira is on a downward spiral again after government’s intervention handed the currency a breather for about a week.
The currency fell to N900...