Prolonged foreign exchange (forex) illiquidity, uncertainty and other macroeconomic challenges are taking their toll on the capital market as total foreign transactions on the Nigerian Exchange Limited ( NGX) dipped by 53.16 per cent last month.
Inflation is a gradual rising in the overall cost of commodities and services. Certain goods may noticeably go up in price, while others may become cheaper, as well as some goods may not change in price at all. Inflation is assessed by the set of products, goods, and services that the average person or family…
The National Association of Nigerian Students (NANS) has sent a Save Our Souls (SOS) to the Central Bank of Nigeria (CBN), urging it to checkmate the activities of banks over the abuse of Form A Option and the ridiculous rate of FOREX.
• Local patronage hits N1.7tr in 10months, foreigners trail with N349 billion • Operators insist primary market still in comatose, urge govt to tackle impeding issues Uncertainty in the nation’s political space, prolonged foreign exchange (forex) illiquidity and other macroeconomic challenges, exacerbated by the global economic issues have continued to depress foreign portfolio investors’ appetite…
Four years into the Nigeria-China currency exchange programme, trade and currency sale data suggest the deal is barely scratching the surface of the huge illiquidity hurdle importers must surmount to lift goods from the global manufacturing hub.
27 Nov 2022
The Independent Petroleum Association of Nigeria (lPMAN) has attributed the current fuel scarcity to the unavailability of petroleum products and difficulty in accessing foreign exchange by marketers.
15 Nov 2022
The Economic and Financial Crimes Commission (EFCC) has said that it has arrested some bureau de change operators across the country, especially in Lagos and Abuja, to sanitize the foreign exchange sector.
25 Oct 2022
Many Muslims are interested in Forex trading and have been wondering if it is permissible under Islamic law. The answer to this question depends on a number of factors, including the type of Forex trading involved and the specific circumstances of the individual trader. In this article, we will discuss the general principles of Islamic…
12 Oct 2022
Telecommunications operators have, again, called on the Central Bank of Nigeria (CBN) to prioritise their access to foreign exchange (FX), especially as the illiquidity crisis worsens.
28 Sep 2022
Operators in the printing subsector have rued the depreciation of the naira coupled with the rising energy cost and its impacts on the sector, urging government to impose higher tariffs on imported items to encourage local production.
31 Aug 2022
The airline business (and, indeed the aviation industry) in Nigeria is at present facing an existential threat—triggered by an acute scarcity of foreign exchange (forex).
25 Aug 2022
The Food Beverage and Tobacco Senior Staff Association (FOBTOB) has lamented that employers in the sector are finding it difficult to import raw materials for production due to unavailability