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CBN, MTN resolve forex repatriation row after $53m payment

CBN, MTN resolve forex repatriation row after $53m payment

The CBN in August 2018 directed MTN to reverse repatriations valued at $8.1 billion done on its behalf by four commercial banks between 2007 and 2015″ Omodele Adigun, with agency report MTN Group has finally resolved the dispute on foreign exchange importation with the Central Bank of Nigeria (CBN) and made a $53 million payment, […]
The post CBN, MTN resolve forex repatriation row after $53m payment appeared first on The Sun Nigeria. …

$8.1bn repatriation: CBN, MTN agree to settle out of court

$8.1bn repatriation: CBN, MTN agree to settle out of court

MTN had filed a suit seeking an injunction to restrain CBN and AGF from taking further actions to reclaim the alleged debts. Omodele Adigun (with agency report) A senior Advocate of Nigeria (SAN) and counsel to MTN, Mr. Wole Olanipekun, Tuesday, said his client has decided to pursue an out-of-court settlement with the Central Bank […]
The post $8.1bn repatriation: CBN, MTN agree to settle out of court appeared first on The Sun Nigeria. …

Banks not doing enough for SMEs – Odude, President, BCI

Banks not doing enough for SMEs – Odude, President, BCI

“Where government generates most of its income from taxes, the attitude of government will be to encourage enterprises and SMEs at every level.” Bimbola Oyesola Full participation of Nigeria in the African Continental Free Trade Agreement (AfCFTA) has been a major issue where manufacturers have vehemently warned that it would turn Nigeria into a dumping […]
The post Banks not doing enough for SMEs – Odude, President, BCI appeared first on The Sun Nigeria. …

Sri Lanka restricts car imports as currency crashes

Sri Lanka announced a raft of restrictions Saturday in a bid to slow down imports of cars and luxury goods as the country faces a foreign exchange shortage. The finance ministry banned the import of vehicles for all state institutions for one year and said public servants will not be allowed to import cars at […] …

CBN injects $317.52m, CNY 58.40m into retail SMIS

CBN injects $317.52m, CNY 58.40m into retail SMIS

CBN said the Bilateral Currency Swap Agreement with the Peoples’ Bank of China has continued to receive encouraging responses from customers. Uche Usim, Abuja In line with its resolve to boost operations in the retail Secondary Market Intervention Sales (SMIS), the Central Bank of Nigeria (CBN) has injected $317.52 million into that segment of the […]
The post CBN injects $317.52m, CNY 58.40m into retail SMIS appeared first on The Sun News. …

Nigeria’s Foreign Exchange Inflow Hits $91b In 2017 – CBN

  The Central Bank of Nigeria (CBN) says the aggregate foreign exchange inflow into the country increased to $91billion in 2017. The apex bank revealed this in its ‘Draft 2017 Annual Report’ published on Wednesday. It said the figure represents an increase of 45 per cent, from the $62.75 billion recorded in 2016. According to … Continue reading Nigeria’s Foreign Exchange Inflow Hits $91b In 2017 – CBN
The post Nigeria’s Foreign Exchange Inflow Hits $91b In 2017 – CBN appeared first on Channels Television. …

CBN injects $210m into foreign exchange

CBN injects $210m into foreign exchange

The Central Bank of Nigeria has sustained its intervention in the inter-bank foreign exchange market by injecting 210 million dollars into the various segments of the market. The acting Director,  Corporate Communications, CBN, Mr Isaac Okorafor, on Tuesday in Abuja, said the apex bank offered 100 million dollars  as wholesale interventions and allocated 55 million […] …

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