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The Pacesetter Frontier Magazine

Making a Stride in Time

foreign exchange

Cooking Gas Inflation: Investors urge FG to tackle Foreign Exchange instability and high prices

November 29, 2021 by Editor Leave a Comment

    The President, Nigeria LPG Association, Mr. Nuhu Yakubu, said the association had been engaging with relevant agencies, with a view to addressing the issues.   Speaking at the just-concluded 11th International Conference and Exhibition in Lagos, he said: “As an association, we are currently engaging with respective government agencies in addressing issues around … [Read more…]

Posted in: Business/Economy, News Tagged: foreign exchange, foreign exchange instability, Gas inflation, inflation

Foreign Exchange utilization for food importation dropped by half this year

April 23, 2021 by Editor Leave a Comment

The Central Bank of Nigeria (CBN) says foreign exchange (FX) utilisation for food importation dropped by half in January 2021.   The CBN’s economic report on ‘Sectoral Utilisation of Foreign Exchange’ for January said a total of $160 million was spent from Nigeria’s FX on importing food in January.   This represents a 48 percent … [Read more…]

Posted in: Opinion Tagged: CBN, foreign exchange

Nigeria gains massively on the ‘Naira for Dollar’ policy

April 9, 2021 by Editor Leave a Comment

The ‘Naira for Dollar’ policy of the Central Bank of Nigeria (CBN) has led to positive accretion to the foreign reserves exactly one month after takeoff.   The foreign reserves, on April 1, stood at $34.85 billion, representing $404 million increase compared to $34.41 billion on March 11.   The uptick in reserves has been … [Read more…]

Posted in: News Tagged: CBN, Dollars, foreign exchange, Naira

Aggregate Foreign exchange inflow in the country increases to $23.60bn

March 17, 2021 by Editor Leave a Comment

Aggregate foreign exchange inflow into the country in the fourth quarter of 2020 rose to $23.60bn from $21.46bn in the third quarter, figure from the Central Bank of Nigeria revealed on Tuesday.   The CBN stated in its report on ‘Foreign exchange flows through the economy’ for the fourth quarter that though there was an … [Read more…]

Posted in: News Tagged: CBN, finance, foreign exchange

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