The Central Bank of Nigeria (CBN) has banned transfer of foreign exchange (forex) from one customer to another. According to the apex bank, forex cash lodgements into domiciliary accounts can only be done by the account owners henceforth. An internal memo available in the media space explains that the new guidelines are necessary to review […] The legal backing for monetary policy by the Bank derives from the various statutes of the bank such as the CBN Act of 1958 as amended in CBN Decree No. 24 of 1991, CBN Decree Amendments 1993,No. 3 of 1997,No. 4 of 1997,No. 37 of 1998,No. 38 of 1998,1999 and CBN Act of 2007. Section 12 Sub-sections (1) to (5), CBN Act of 2007 (Ammended) President Muhammadu Buhari’s recent directive to the governor of the Central Bank of Nigeria (CBN), to restrict foreign exchange for the purpose of food and fertiliser importation into the ... In August, the CBN secured a court order to freeze the accounts of certain companies accused of forex volatility, importation of items exempted from official foreign exchange and manipulation of ... CBN Makes First Forex Intervention In 2020 With $253m . The Central Bank of Nigeria (CBN), at the weekend, made its first foreign exchange (forex) intervention for the year, with $253.38 million, under the retail Secondary Market Intervention Sales (SMIS) and CNY16.76 million in the spot and short-tenored forwards segment of the inter-bank foreign market.
The Central Bank of Nigeria has made good its promise to implement the liberalisation of the Foreign Exchange market and improve liquidity. ... Is The CBN Forex Policy Good Or Bad For The Nation ... MD/CEO, Cowry Asset Management Ltd, Johnson Chukwu, says Central Bank's action on forex regime would send wrong signals. #CBN....#Forextrading....#Nigeria #C... President Muhammadu Buhari says he has asked the Central Bank of Nigeria (CBN) to stop providing foreign exchange for food importation. In a statement issued on Tuesday by Garba Shehu ... CBN Lifts Forex Market with $210m CBN Lifts Forex Market with $210m CBN Lifts Forex Market with $210m Subscribe my channel: https://www.youtube.com/channel/UCv2-... This video is unavailable. Watch Queue Queue. Watch Queue Queue