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Naira slumps further, exchanges for 485/$

The naira slumped further as it exchanged to a dollar for 485 at the parallel market on Friday, after starting the week at 483/$. At the Investor & Exporter forex window, the exchange rate hit a high of N412/$ before closing at N410.05. The Central Bank of Nigeria recently disclosed that the naira depreciated at...

The post Naira slumps further, exchanges for 485/$ appeared first on Punch Newspapers.

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Business

Naira slumps further, exchanges for 485/$

The naira slumped further as it exchanged to a dollar for 485 at the parallel market on Friday, after starting the week at 483/$. At the Investor & Exporter forex window, the exchange rate hit a high of N412/$ before closing at N410.05. The Central Bank of Nigeria recently disclosed that the naira depreciated at...

The post Naira slumps further, exchanges for 485/$ appeared first on Punch Newspapers.

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Insecurity, unstable forex affecting investments in Nigeria – Netherlands

Okechukwu Nnodim, Abuja Some foreign investors on Tuesday charged the Federal Government to address the level of insecurity in Nigeria as well as concerns with the country’s foreign exchange rate. Nigeria’s forex rate has been fluctuating over time with naira crashing repeatedly against the dollar. Speaking in Abuja on Tuesday, the Netherlands Ambassador to Nigeria, […] Read Full Story

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Stock-fish dealers seek access to Forex

The Stock-fish Dealers Association on Thursday urged the Federal Government to grant importers of Stock-fish, access to the Foreign Exchange (FOREX). The group made the call in an interview with the News Agency of Nigeria (NAN) on the sidelines of a two-day Seafood Seminar in Lagos. Chairman of the association, Mr Gregory Ilobinso, said access to FOREX
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The post Stock-fish dealers seek access to Forex appeared first on Vanguard News.

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A Pragmatic Solution to the BEAC’s FOREX Regulations Will Not be Reached Without the Involvement of Local Stakeholders

A Pragmatic Solution to the BEAC’s FOREX Regulations Will Not be Reached Without the Involvement of Local StakeholdersThe FOREX regulations imposed by the Bank of Central African States (BEAC) remain one of the major impediments to investments in Central Africa’s energy markets: Equatorial Guinea, Congo, Cameroon, Gabon, Chad and CAR. Even though their implementation was postponed from January 1st, 2021 to December 1st, 2021, their unchanged terms continue to make them anti-African and anti-jobs. Unfortunately, the industry lacks a coordinated action to engage with policy makers in the region, and most lobbying against the regulations has been done by international operators without the involvement of local stakeholders and companies. Reaching a fair and just resolution that puts forth the interests of Africans, businesses and investors cannot be done without involving local services companies, local entrepreneurs and the local business community. They are set to suffer the most from such regulations and need to be part of the solution. “A post-Covid19 recovery strategy can only work when it […]

A Pragmatic Solution to the BEAC’s FOREX Regulations Will Not be Reached Without the Involvement of Local Stakeholders - NNN.

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