FOREX Archives - The Glitters Online

Forex: FG Gives 9 Months Grace To Those Keeping Dollars Outside Banking System

Kazeem Tunde — Thu, 31 Oct 2024 19:56:35 +0000

Forex: FG Gives 9 Months Grace To Those Keeping Dollars Outside Banking System Minister of Finance and Coordinating Minister of the Economy, Wale Edun, yesterday, disclosed a new government policy that would permit Nigerians who are keeping dollars outside the banking system to bring those funds into the financial system. Edun, said such individuals […]

The post Forex: FG Gives 9 Months Grace To Those Keeping Dollars Outside Banking System appeared first on The Glitters Online.

Fake Forex Trader Arraigned For Fraud

Kazeem Tunde — Fri, 30 Aug 2024 11:56:47 +0000

Fake Forex Trader Arraigned For Fraud A 39-year-old man, Bassey Ikpi, accused of posing as a forex trader, was arraigned on Thursday before the Lagos State Chief Magistrate Court in Ebute-Metta for allegedly defrauding several individuals and companies of large sums in multiple currencies. The defendant, who is facing four counts bordering on conspiracy, […]

The post Fake Forex Trader Arraigned For Fraud appeared first on The Glitters Online.

BDC Operators Plan Harmonised Retail FX Market

Kazeem Tunde — Sat, 27 Apr 2024 05:04:40 +0000

BDC Operators Plan Harmonised Retail FX Market The Association of Bureaux De Change Operators of Nigeria has revealed plans for a unified retail end of the foreign currency market. A statement from the association on Friday disclosed that the move would tackle volatility and boost regulatory compliance within that segment of the market. ABCON […]

The post BDC Operators Plan Harmonised Retail FX Market appeared first on The Glitters Online.

$7bn FX: OPS Threatens To Sue Banks Over Rejected Forex Requests

Kazeem Tunde — Mon, 25 Mar 2024 12:34:49 +0000

$7bn FX: OPS Threatens To Sue Banks Over Rejected Forex Requests Some businesses under the aegis of the Organised Private Sector of Nigeria are considering taking legal action against some commercial banks for not honouring forex requests which have lingered over an extended period. The OPSN also called for a comprehensive audit of the […]

The post $7bn FX: OPS Threatens To Sue Banks Over Rejected Forex Requests appeared first on The Glitters Online.

SINET Urges Probe Of $2.4Bn Forex Trading Fraud

Kazeem Tunde — Mon, 19 Feb 2024 19:29:20 +0000

SINET Urges Probe Of $2.4Bn Forex Trading Fraud …Demands CBN To Honour Forward Contracts The Social Integrity Network, (SINET) has demanded further clarification concerning a statement credited to the Central Bank of Nigeria, CBN Governor, Mr. Olayemi Cardoso, on issues regarding the alleged and well-publicized revelations of a $2.4 billion forex trading fraud. The group […]

The post SINET Urges Probe Of $2.4Bn Forex Trading Fraud appeared first on The Glitters Online.

FG Pledges To Stabilise Forex

Kazeem Tunde — Sat, 03 Feb 2024 19:19:42 +0000

FG Pledges To Stabilise Forex Following recurrent freefall of Naira in the Foreign Exchange (Forex) market, the Federal Government has assured Nigerians that it will implement macroeconomic reforms to stabilise the market. The Minister of Information and National Orientation, Mohammed Idris, gave the assurance on Saturday in Minna, at the 2024 Press Week of the […]

The post FG Pledges To Stabilise Forex appeared first on The Glitters Online.

FG Blames Low Export Earnings For Forex Scarcity, Plans Diversification

Kazeem Tunde — Fri, 17 Nov 2023 05:18:55 +0000

FG Blames Low Export Earnings For Forex Scarcity, Plans Diversification The Federal Government has linked the country’s foreign exchange scarcity to its low export earnings. Speaking at the 40th annual Conference of the Chartered Institute of Directors on Thursday, in Abuja, the Minister of Finance and Coordinating Minister of Economy, Wale Edun, said the government […]

The post FG Blames Low Export Earnings For Forex Scarcity, Plans Diversification appeared first on The Glitters Online.

Forex Ban Lift On 43 Items Will Hurt Economy – MAN

Kazeem Tunde — Fri, 27 Oct 2023 05:27:39 +0000

Forex Ban Lift On 43 Items Will Hurt Economy – MAN The Manufacturers Association of Nigeria has criticised the Central Bank of Nigeria’s decision to lift restrictions on 43 items from accessing forex through the official trade window. MAN said the new move would result in a serious setback on the productive sector. The Vice […]

The post Forex Ban Lift On 43 Items Will Hurt Economy – MAN appeared first on The Glitters Online.

BDC Operators Kick As CBN Restricts Forex Trading

Kazeem Tunde — Sat, 19 Aug 2023 05:36:48 +0000

BDC Operators Kick As CBN Restricts Forex Trading The Central Bank of Nigeria has announced operational mechanism for the Bureau De Change segment of the market to trade foreign currencies at similar rates obtainable on the Investor & Exporter forex window. It gave the directive to all BDCs and the general public in a […]

The post BDC Operators Kick As CBN Restricts Forex Trading appeared first on The Glitters Online.

Forex: CBN Moves To Stop Naira Free Fall

Kazeem Tunde — Mon, 14 Aug 2023 19:02:35 +0000

Forex: CBN Moves To Stop Naira Free Fall The Central Bank of Nigeria has said it is set to take new measures to stabilise the naira against the dollar. Acting Governor of the CBN, Folasodun Sonubi, made the disclosure to State House Correspondents after briefing President Bola Tinubu on what the bank was doing the […]

The post Forex: CBN Moves To Stop Naira Free Fall appeared first on The Glitters Online.