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

Buhari charges traditional rulers to be vanguards of anti-corruption war.

WUKARI(Taraba),March 17,2017(NAN) President Muhammadu Buhari on Friday called on traditional rulers to form a strong vanguard in support of his fight against corruption in the country.Buhari made the call at the celebration of the Aku Uka of Wukari Dr. Shekarau Angyu’s 40th anniversary as the Jukun paramount ruler in Wukari,Taraba. Represented by the Minister of Youth and Sports,MrSolomon Dalong,the President urged the traditional rulers to strip politicians and others found to be corrupt of their community
Read more

NECO releases Nov/Dec 2016 SSCE results

The National Examinations Council (NECO) has released the results of the November/December 2016 Senior Secondary Certificate Examination (SSCE) conducted for private candidates. Of the 47,118 that partook in the exercise, 28,530 got five credit passes and above in English Language, Mathematics and other subjects. The Registrar/Chief Executive,Professor Charles Uwakwe, who announced the results yesterday at the council’s headquarters in Minna, Niger State, acknowledged an improved performance.
Read more

$20bn NNPC fraud: EFCC discovers Diezani's $37.5m Lagos mansion

AbujaThe Economic and Financial Crimes Commission has discovered a $37.5m (N11.75bn) luxury high-rise building on Banana Island, Ikoyi, Lagos, allegedly belonging to the embattled former Minister of Petroleum Resources, Diezani Alison-Madueke.This is just as the EFCC revealed on Friday that it discovered $9.3m and £74,000 belonging to a former Group Managing Director, Nigerian National Petroleum Corporation, Mr. Andrew Yakubu. The money was allegedly kept in. This is just as the EFCC revealed on Friday.
Read more