SOURCE :BUSINESS DAY.
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“Central Bank of Nigeria Restricts Foreign Oil Firms from Repatriating 100% FX Proceeds Instantaneously”The central bank announced that international oil companies are permitted to repatriate 50% of their proceeds initially, with the remaining half available for repatriation after a 90-day period.
The Central Bank of Nigeria (CBN) has implemented new regulations preventing international oil companies from transferring 100% of their foreign exchange proceeds to their parent companies overseas in a single transaction. Instead, the apex bank has directed that these companies can initially repatriate 50% of their proceeds, with the remaining half available for repatriation after […]
Facebook, Twitter, YouTube remove video of Nigerian doctor claiming hydroxychloroquine cures COVID-19
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Naira Surges to N1,270 in Parallel Market
Today, Tuesday, the Naira experienced an upturn, reaching N1,270 per dollar in the parallel market, marking a favorable shift from last week Thursday’s N1,290 per dollar. Likewise, in the NAFEM, the Naira saw an increase to N1,278.58 per dollar. According to data from FMDQ, the indicative exchange rate for NAFEM dropped to N1,278.58 per […]