January 23, 2025
Today In the News

Today In the News

Today In the News

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
Funsho Doherty Urges Leaders to Prioritise Public Interest in Addressing Economic Woes
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Funsho Doherty Urges Leaders to Prioritise Public Interest in Addressing Economic Woes

  • November 27, 2024
Bishop Kukah Decries Poor Education in Northern Nigeria, Blames Leaders
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Bishop Kukah Decries Poor Education in Northern Nigeria, Blames Leaders

  • November 27, 2024
President Tinubu Revitalisation of Port Harcourt Refinery
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President Tinubu Revitalisation of Port Harcourt Refinery

  • November 27, 2024
Court Strikes Out Suit Blocking EFCC From Arresting Governor Sanwo-Olu
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Court Strikes Out Suit Blocking EFCC From Arresting Governor Sanwo-Olu

  • November 27, 2024
President Tinubu Embarks on State Visit to France for Bilateral Talks
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President Tinubu Embarks on State Visit to France for Bilateral Talks

  • November 27, 2024