Tag: Forex

FG’s Food Importation Policy: Financial Times Got It All Wrong – Presidency

Experts fault Buhari over forex restriction on food imports, Raise fears over looming food scarcity

Federal Government launched the Anchor Borrowers’ Programme to boost local production of commodities, including rice.

August inflation figure released by the National Bureau of Statistics was 16.01 per cent.

CBN gave the hint about the sanction on Thursday after Bankers Committee Meeting in Lagos

CBN intervened on Monday as the value of the naira dropped on all ends of the market.

Mr Isaac Okorafor, Acting Director in charge of Corporate Communications, CBN, made the intervention known in Abuja

CBN had injected 194 million dollars on July 24

The Naira gained two points to trade at N363 to the dollar on Tuesday

The injection into forex market by CBN is ahead of Monetary Policy Committee’s (MPC) decision

Foreign exchange supply has improved considerably

Some banks had breached the limit of foreign currency borrowing.