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This has temporarily boosted the supply of forex, causing the naira to appreciate in the parallel market around December. However, this proved short-lived, with the CBN resorting…
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DOI: 10.1108/OXAN-DB259421
ISSN: 2633-304X
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Geographic
Topical
Instead it ordered that all foreign exchange purchases should occur through commercial banks. This move aims to stabilise the value of the naira by reducing effective domestic…
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DOI: 10.1108/OXAN-DB263667
ISSN: 2633-304X
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Geographic
Topical
The naira's partial float.
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DOI: 10.1108/OXAN-DB220688
ISSN: 2633-304X
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Geographic
Topical
The budget is built on unduly optimistic assumptions. Meanwhile, the Central Bank of Nigeria (CBN) is seeking loans to help clear foreign exchange (forex) backlogs while…
This follows the fallout from an August 18 decision by Emirates Airlines -- and subsequently others -- to suspend operations in Nigeria due to their inability to repatriate an…
This gives priority to selected local manufacturers who will now have easier access to forex at official rates. This forms part of a broader CBN programme aimed at supporting…
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DOI: 10.1108/OXAN-DB268192
ISSN: 2633-304X
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Geographic
Topical
The CBN has previously warned banks against cryptocurrency transactions, arguing cryptocurrencies are not legal tender in Nigeria and create risks due to their volatility and…
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DOI: 10.1108/OXAN-DB260390
ISSN: 2633-304X
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Geographic
Topical
Nigeria's forex dynamics
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DOI: 10.1108/OXAN-DB233972
ISSN: 2633-304X
Keywords
Geographic
Topical
This is the second devaluation of the naira in less than six months on the official foreign exchange (forex) market. The CBN has previously staved off a devaluation despite the…
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DOI: 10.1108/OXAN-DB255029
ISSN: 2633-304X
Keywords
Geographic
Topical
Nigeria's economic outlook.