Expert commends CBN's forex intervention
Exactly two years after the Central Bank of Nigeria introduced the Investors and Exporters Window; experts say it has helped to improve foreign exchange liquidity, with about $50 billion dollars cumulative transactions carried out on the platform as at March 2019.
CBN I&E forex window attracts $4bn in three months
Nigeria's importers and exporters foreign exchange window introduced by the Central Bank of Nigeria about four months ago has attracted four billion dollars from foreign investors since April.
Naira gains in parallel market
Nigeria's foreign exchange market has continued on a path of rates convergence as the naira is currently trading at around three-hundred and sixty-five to the dollar.
Nigeria aims for rice self-sufficiency by 2018
Nigeria's vice-president Yemi Osinbajo says the country targets self-sufficiency in rice production by the end of 2018, saving scarce foreign exchange spent on importing the staple food.
Nigeria's aviation sector hits turbulence
The aviation sector in Nigeria has been confronted with several challenges in the last two years. For a sector that is heavily dependent on foreign exchange, the scarcity of the dollar poses a huge challenge to airline operations.
Nigeria defends FX policy
Following criticism for pegging the naira at an artificially strong rate to the dollar despite heavy inflationary pressure, the Central Bank of Nigeria has called those opposing the current foreign exchange framework, 'unpatriotic'.
Improving access to finance for SMEs
The Central Bank of Nigeria says Small and Medium Enterprises are critical for the development of any economy, but access to finance remains a key hurdle in achieving their potential.