Sunday, 3rd December 2023
To guardian.ng
Search

CBN to sell dollars to fuel importers, airlines

The Central Bank of Nigeria plans to offer dollar forwards to be delivered within two months, in a bid to offset the backlog of matured forex obligations to fuel importers, manufacturers and airlines.

Related

27 Sep 2022
The dollar has been on a tear in recent weeks as investors take refuge in the safe haven amid recession worries. The pound and the euro have been pummeled, but the greenback's ascent could have wider ramifications.
29 Oct 2022
Russia on Monday accused Western countries of having "essentially stolen" its gold and foreign exchange reserves via sanctions.
30 Oct 2022
Currencies are depreciating around the world and wreaking havoc on economies. But as the strong US dollar hits foreign demand, some American businesses are also experiencing painful losses.
23 Nov 2022
Russian airlines are still flying despite massive international sanctions imposed on the aviation sector, but their collapse seems imminent. Or have they found a workaround?
25 Nov 2022
Find these stories and much more when you grab a copy of The Guardian on Saturday.⁣
24 Jan
Nigeria opened a billion-dollar Chinese-built deep seaport in Lagos on Monday (January 23) which is expected to ease congestion at the country's ports and help it become an African hub for transshipment, handling cargoes in transit for other destinations.
29 Jan
Well-worn U.S. dollar notes are finding a new home on the streets of Harare, where they are bought at nearly half their value for resale at a profit after mending, as Zimbabweans find creative ways to survive an unrelenting financial onslaught.
15 Mar
In Kenya, dollar shortage has hit oil importers hard as they need the greenback to bring in supplies.
24 Mar
A new generation of talented forex traders in Nigeria is learning the moves of the industry — and fast! We find out why this unconventional business model is giving hope to young Nigerians.
26 Mar
The US dollar dominates the world of international trade and has a leading position in global foreign reserves. But could the Chinese Yuan or cryptocurrencies pose a challenge? This edition of Business Beyond considers the pros and cons of having a single currency with so much power.
12 May
The World Economic Forum is urging Nigeria to identify risk-hedging facilities to back the naira financing of clean energy projects due to the limited availability of dollar finances.
5 May
For decades, the US dollar has been king on the global stage. But more and more countries are looking to reduce their dependence on the American currency, saying they want to "de-dollarize" their economies. How realistic are their plans, and how would they work? Kate Moody talks to Ruchir Sharma, chairman of Rockefeller International and founder of Breakout Capital.