BREAKING: CBN To Stop Selling Forex To Banks This Year

The Central Bank of Nigeria (CBN) has put Deposit Money Banks (DMBs) on notice that it will stop selling forex to them by the end of 2022.

CBN Governor Godwin Emefiele made this known 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.

Emefiele 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.

The CBN, he said, would be reviewing these intervention programmes going forward to ensure that they continue to achieve the desired results.

Source:The Nation

Comments

HERMOSA_IMPERIAL- YOUR BEST OPTION!

Introducing your MARKET GENIUS! HERMOSA_IMPERIAL! Hermosa_Imperial, Lagos. A certified Business, that deals in hospitality management, personal shopping, event management and logistics. Just as our name implies, we are Imperial; with a regal bearing and business sense. We have a vast, indepth knowledge of the market place, where to pick your exquisite items from. We are swift, affordable and reliable. You have a need? Think no further, let us surf the market for you. Holla at us! Hermosa_imperial has gone a step further by providing via our YouTube video, an insight of the Lagos metropolitan market. Showing viewers how to surf the major and minor markets in Lagos. The vital marketing strategies that you can use to survive Lagos, reliable online vendors and so much more. Hermosa_imperial is a MUST stop! We at Hermosa_Imperial cares for you! CONTACT: 0703 8606139. 0704 508 7378. https://m.youtube.com/channel/UCiJSdwFZhDY-D8m1z0m8gfA NOTE: PAID ADVERT .

The Queens-Abandoning Her Own Ambition To Raise Up Greatness!

"The Queens," celebrating womanhood, the 'preserver' of the Society. In Today's article, we meet Angela Odidi, a mother who sacrificed her life's ambition of becoming a nurse, to give her all to her children. This is indeed a noble sacrifice. Her intelligence, she embedded in her children, her knowledge she implanted, her wit and charisma she got rooted in them. Odidi, instilled in them, her strength and discipline. She thought them to be compassionate and empathetic towards everyone. Of course, her beauty, nature, entrenched in them. A lot of women all around the world fall into similar situations, they give away their life's hope and childhood dreams, they step aside for others to fill these shoes. We celebrate you, women! Queens indeed, each with her crown. We see; we observe, we remember, we appreciate! Angela Odidi is an avid reader and lover of books. Fluent in languages; English, Hausa, Igbo and Yoruba. Good in mathematics. Her decision and hard wo...

NEWSBREAKING: Nigerian Government Lifts Twitter Ban

Twitter. On Wednesday, Mr. Kashifu Inuwa Abdullahi, the head of the Nigerian team negotiating with Twitter has said that the social media giant Twitter has agreed to pay “applicable tax” and establish a legal entity in Nigeria in the first quarter of 2022. Kashifu Inuwa Abdullahi is the director-general of the National Information Technology Development Agency, said this in a statement while announcing the lifting of the more than six-month-long suspension of the social media platform in the country. “Twitter has agreed to act with a respectful acknowledgement of Nigerian laws and the national culture and history on which such legislation has been built and work with the FGN and the broader industry to develop a Code of Conduct in line with global best practices, applicable in almost all developed countries,” Abdullahi said. Twitter was suspended in Nigeria in June 2021, a few days after the platform deleted a remark from Buhari’s account. The led to an outcry over freedom of expr...

Welcome To Echo Blog

Search This Blog