-
Nigeria: Exclusive - Forex Crisis: Nigeria Plans Clampdown On Binance, Other Crypto Firms
Premium Times, 21 February 2024
Binance has had similar aaccusations of currency manipulation and unethical conduct leading to sanctions in many countries and an ongoing lawsuit in the United States. Read more »
-
Nigeria: Newly-Uncovered False Foreign Exchange Claims Could Hurt Nigerian Economy
VOA, 7 February 2024
Nigeria's central bank said this week it uncovered $2.4 billion in false foreign exchange claims after investigating backlogs of $7 billion due to be cleared. Authorities said the… Read more »
False Foreign Exchange Claims Could Hurt Nigerian Economy - Govt
Following a forensic audit, Nigerian authorities say they have discovered U.S.$2.4 billion in false foreign excahnge claims. They warned that these claims could further harm the country's economy, which has already been struggling with prolonged foreign exchange shortage that has devalued the local currency and worsened inflation.
-
Nigeria: Cardoso, CBN and the Nigerian Economy
This Day, 6 February 2024
It is not just the menace of insecurity in the land that has been in the news in Nigeria, the economy too, and indeed the latter for obvious reasons as well, with the national… Read more »
-
Nigeria: We Inherited $7 Billion Unpaid FX - Cardoso
Premium Times, 5 February 2024
Mr Cardoso said the infractions observed included some entities not having valid import documents, and that in some cases, even entities that did not exist were captured. Read more »
-
Nigeria: CBN Uncovers $2.4 Billion False Forex Claim Pressuring Naira - Cardoso
Premium Times, 5 February 2024
The CBN hired Deloitte to investigate the forex claims in order to get a true picture things, Cardoso said. Read more »
-
Nigeria: Naira - Comedy Inside a Tragedy
Leadership, 5 February 2024
On Sunday, August 15, 1971, the United States economy was literally facing a firing squad. The Dollar was in a mess. Price gougers were everywhere and foreign exchange was cruel to… Read more »
InFocus
-
Governor Olayemi Cardoso has said despite the current gloomy picture of the economy, the "future is bright and positive". Last week President Bola Tinubu and Nigerian Read more »
-
Yemi Cardoso, the new Governor of the Central Bank of Nigeria (CBN), plans to clear a vast overhang of dollar obligations and en Read more »
