CBN directive on FX sales at airports a temporary solution, says expert.

An economist, Mr Femi Awoyemi says the directive by Central Bank of Nigeria (CBN) to banks to open Foreign Exchange sales point at airports was a temporary solution to ease dollar demand.Awoyemi, who is the the Chief Executive Officer of Proshares Nigeria Ltd., Lagos made said this in an interview with the News Agency (NAN) on Tuesday in Lagos.
He said that the directive would not permanently bridge the wide exchange rate between the official and parallel market.NAN reports that to ease the burden of travel

Comments

Post a Comment

Popular posts from this blog

Trump orders wall to be built on Mexico border.

President Donald Trump has issued an executive order for an "impassable physical barrier" to be built along the US border with Mexico.He also signed an action to strip funds from US cities that are sanctuaries for undocumented immigrants.Mr Trump said in a TV interview that Mexico would "absolutely, 100%" reimburse the US for his wall.
Read more

DSS detains five personnel over teachers’ brutalisation in Calabar

Mudiaga Affe, Calabar Five personnel of the Department of State Services have been detained in connection with thebrutalisation of teachersat the Federal Government Girls College in Calabar.It was learnt on Wednesday that the five officials were being detained in the cell of the Cross River State Command of DSS in Calabar. A DSS source, who craved anonymity, said the affected personnel were arrested almost immediately the incident occurred on February 2 for going against the rules and regulations.
Read more

Man bags 2 years imprisonment for impersonating Peace Corps commandant.

A magistrate court sitting in Obubra, Cross River State has sentenced one Mr. James Ochiche to two years imprisonment for impersonating the state Commandant of Nigeria Peace Corps.In a two count charge in suit number MC/779C/2013, Ochiche was accused by the state command of the organization of impersonating as a deputy commandant as well as collecting N5000 to N8000 from unsuspecting members of the public as service charge for recruitment into the service. The presiding Judge, Adome Etaba in his judgment.
Read more