Eko Hot Blog reports that the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has disclosed that $2.4 billion, out of the reported $7 billion in outstanding foreign exchange liabilities of the federal government, cannot be considered valid for settlement. Cardoso made this revelation in an interview with Arise Television on Monday. He … Read more
Eko Hot Blog reports that Nigeria’s currency, the Naira, fell to an all-time low of N1348.63/$ on the Nigerian Autonomous Foreign Exchange Market on Monday. This signifies a 51.21 per cent fall from the N891.90/$ the national currency closed last Friday at the official market, according to data from the FMDQ Securities Exchange. Monday’s official … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has disbursed about $61.64 million to foreign airlines operating in the country as part of efforts to decrease its outstanding liability to the airlines. The CBN acting Director, Corporate Communications Department, Hakama Sidi, who made this known in a statement yesterday, disclosed that the … Read more