dollars

CBN orders banks to sell excess dollars in 24 hours

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[ad_1] The Central Bank of Nigeria (CBN) on Wednesday,  Jan. 31, imposed limits on how much banks can hold in foreign currencies.   The apex bank expressed concern about the growth of forex exposures on their balance sheets following the naira’s tumble against the US dollar.   The Senate, on Wednesday, through its Committee on … Read more

Journalist claims he made a loss to protect Nigeria’s currency by refusing to change dollars at the black market rate

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[ad_1] A journalist has claimed that he refused to change dollars at the official market rate even though his decision meant making a loss.   He explained that he took $500 to a Bureau De Change agent and asked to have it changed to Naira at the FMDQ rate of N763.53 per dollar even though … Read more