December 18, 2025
Today In the News

Today In the News

Today In the News

Police Silent as Amnesty Alleges Excessive Force Used During August #EndBadGovernance Protests
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Police Silent as Amnesty Alleges Excessive Force Used During August #EndBadGovernance Protests

  • November 28, 2024
UK Opens Africa’s Largest Visa Application Centre in Lagos
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UK Opens Africa’s Largest Visa Application Centre in Lagos

  • November 28, 2024
Nigeria-China Trade Hits $22.6 Billion in 2023, Says Shettima
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Nigeria-China Trade Hits $22.6 Billion in 2023, Says Shettima

  • November 28, 2024
Peter Obi Calls for Transparency in Port Harcourt Refinery Operations
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Peter Obi Calls for Transparency in Port Harcourt Refinery Operations

  • November 28, 2024
Oluyede Calls for Unity and Regional Collaboration to Tackle Security Challenges
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Oluyede Calls for Unity and Regional Collaboration to Tackle Security Challenges

  • November 28, 2024
Tertiary Education Fund (TETFund) Suspends Foreign Scholarship for Academic Staff Over High Costs
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Tertiary Education Fund (TETFund) Suspends Foreign Scholarship for Academic Staff Over High Costs

  • November 28, 2024
Enugu State Governor Peter Mbah Proposes Record N971bn Budget for 2025
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Enugu State Governor Peter Mbah Proposes Record N971bn Budget for 2025

  • November 27, 2024
The Central Bank of Nigeria (CBN) has introduced a minimum trade value of $100,000 for interbank foreign exchange transactions conducted through the Electronic Foreign Exchange Matching System (EFEMS). The directive, dated 25 November 2024, was signed by Dr Omolara Duke, Director of the Financial Markets Department. The CBN stated that the move aims to enhance transparency, efficiency, and compliance within Nigeria’s foreign exchange market. To support this, Bloomberg’s BMatch has been designated as the official order-matching platform for interbank FX trading. The new rules also stipulate that the $100,000 minimum trade value will include incremental clip sizes of $50,000, allowing for flexibility in transaction sizes. The EFEMS is designed to streamline interbank forex trading, minimise counterparty risks, and enforce adherence to CBN regulations.
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Nigeria’s Central Bank  Sets $100,000 Minimum for Interbank Forex Trading via Electronic Foreign Exchange Matching System

  • November 27, 2024
Marketers Raise Alarm Over Petrol Pricing Disparities Between NNPCL and Dangote Refinery
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Marketers Raise Alarm Over Petrol Pricing Disparities Between NNPCL and Dangote Refinery

  • November 27, 2024
Ex-Kogi Governor Yahaya Bello Pleads Not Guilty to 16-Count Charges brought against him
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Ex-Kogi Governor Yahaya Bello Pleads Not Guilty to 16-Count Charges brought against him

  • November 27, 2024