#BREAKING: Selling Forex To Banks To End In 2022 – CBN

 The Central Bank of Nigeria (CBN) has notified Deposit Money Banks (DMBs) that it will stop selling forex to them by the end of 2022. This was made known by the CBN Governor,  Godwin Emefiele in Abuja on Thursday at the end of the Bankers’ Committee Meeting where he also introduced the RT200 Programme.



Emefiele said the time had come for the banks to go out there and source for forex by funding entrepreneurs with ideas. He also disclosed that the apex bank’s policies and measures have led to a significant improvement in diaspora inflow from an average of US$6 million per week in December 2020 to an average of over US$100 million per week by January 2022.

He added that the CBN would be reviewing these intervention programmes going forward to ensure that they continue to achieve the desired results.

Comments

Post a Comment

Popular posts from this blog

Mixed reactions as Soludo visits Nnamdi Kanu in detention to discuss insecurity in south-east (photos)

Image
Governor Charles Soludo of Anambra state has visited Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB), in detention. Soludo who shared photos from the visit on his Facebook page on Saturday May 14, said they discussed the sit-at-home protests and killings in the south-east. Meanwhile, many social media users have expressed different reactions to the visit with many commending the governor for taking such bold and impressive step towards finding lasting peace in the South East. See some screenshots below
Read more

Troops kill scores of Boko Haram, ISWAP fighters in Mandara mountains, recover bomb, others

Image
The Nigerian Army Headquarters has revealed that tr oops of 144 Battalion Madagali-Adamawa State have killed an unspecified number of Islamic State’s West Africa Province, ISWAP as well as Boko Haram insurgents at the Mandara mountains, Cameroon–Nigeria border. T he incident which occurred early hours of Monday led to the recovery of unexploded IEDs and other dangerous weapons. The post read, “Based on intelligence report, in the early of today Monday troops of 144 Battalion Madagali-Adamawa State in conjunction with Civilian JTF laid an ambush on withdrawing ISWAP/BHT after a superiority clash between the terror groups. “Scores of terrorists were neutralized at Mandara mountains. weapons, equipment and unexploded IED were recovered. ”
Read more