The National Assembly has approved an Executive Bill seeking to tax banks’ windfall from foreign exchange business, passing it for a second reading. This bill, […]
Tag: Forex
EFCC Set to Prosecute 300 Forex Racketeers in Major Crackdown!
The Economic and Financial Crimes Commission (EFCC) is set to prosecute 300 forex racketeers operating on a peer-to-peer platform outside financial regulations. This move comes […]
Nigeria’s CBN Governor Reveals $2.4 Billion Forex Scandal
Central Bank of Nigeria (CBN) Governor Yemi Cardoso has revealed that law enforcement agencies are investigating foreign exchange forwards valued at around $2.4 billion, deemed […]
CBN Clears $7 Billion Forex Backlog
The Central Bank of Nigeria (CBN) has successfully cleared the $7 billion b (forex) backlog inherited by Governor Yemi Cardoso. Acting Director of Corporate Communications, […]
EFCC Operatives Visit Dangote Head Office, Probe Forex Allocations
The Economic and Financial Crimes Commission, EFCC), on Thursday expanded its inquiry into foreign exchange transactions under the tenure of former Central Bank of Nigeria […]