• Advertise
  • Opinion
  • Features & Interviews
  • Investigation
  • Contact
Tuesday, June 6, 2023
  • Login
No Result
View All Result
NEWSLETTER
The Lagos Today
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Arsenal’s Bukayo Saka visits Lagos

    Arsenal’s Bukayo Saka visits Lagos

    Eko Football: Fouad Oki elected Chairman LSFA

    Eko Football: Fouad Oki elected Chairman LSFA

    FIFA U-20: Nigeria defeats Italy

    FIFA U-20: Nigeria defeats Italy

    Kuti turns self in over assault on Policeman 

    Seun Kuti: Magistrate dismisses application to arraign singer by Police

    Manchester City Win Premier League

    Manchester City Win Premier League

    Kuti turns self in over assault on Policeman 

    Femi Kuti Speaks On Brother’s Arrest, Says ‘We’ve Got The Best Lawyer’

    Update: Kuti detained in Panti, Lagos

    Update: Kuti detained in Panti, Lagos

    Malik family emerge winners in Lagos Squash Classics

    Malik family emerge winners in Lagos Squash Classics

    Kuti turns self in over assault on Policeman 

    Kuti turns self in over assault on Policeman 

    19 players compete for $12,000 at Squash Classics in Lagos today

    19 players compete for $12,000 at Squash Classics in Lagos today

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Arsenal’s Bukayo Saka visits Lagos

    Arsenal’s Bukayo Saka visits Lagos

    Eko Football: Fouad Oki elected Chairman LSFA

    Eko Football: Fouad Oki elected Chairman LSFA

    FIFA U-20: Nigeria defeats Italy

    FIFA U-20: Nigeria defeats Italy

    Kuti turns self in over assault on Policeman 

    Seun Kuti: Magistrate dismisses application to arraign singer by Police

    Manchester City Win Premier League

    Manchester City Win Premier League

    Kuti turns self in over assault on Policeman 

    Femi Kuti Speaks On Brother’s Arrest, Says ‘We’ve Got The Best Lawyer’

    Update: Kuti detained in Panti, Lagos

    Update: Kuti detained in Panti, Lagos

    Malik family emerge winners in Lagos Squash Classics

    Malik family emerge winners in Lagos Squash Classics

    Kuti turns self in over assault on Policeman 

    Kuti turns self in over assault on Policeman 

    19 players compete for $12,000 at Squash Classics in Lagos today

    19 players compete for $12,000 at Squash Classics in Lagos today

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
No Result
View All Result
The Lagos Today
No Result
View All Result
Home Business

Banks Comply With CBN’s Forex Directive, Sells Dollar at N412

by Chinonso Ihekire
August 4, 2021
in Business, Headlines
2 min read
0
0
WorldRemit Supports CBN’s Extension of Naira4Dollar Scheme
Share on FacebookShare on Twitter

As the modified Foreign Exchange (FX) regulation by the Central Bank of Nigeria (CBN) debuts, commercial banks in the capital city of Abuja, have set up dedicated teller points for FX transactions in their branches.

CBN had last week stopped sales of FX through Bureau de Change Operators and announced that foreign exchange would now be sold through commercial banks.

A visit to some commercial banks in Abuja on Monday showed that they were in full compliance to the directive.

Checks at Fidelity Bank, Keystone Bank and Zenith Bank, all in the Central Area of Abuja, showed that they all had designated teller points for FX transactions.

At all the banks visited, officials said that the dollar was selling at an official rate of N412.

They said that each traveller was entitled to buy 4000 dollars per quarter for personal travels and 5000 dollars per quarter for business travels.

Speaking after the Monetary Policy Committee (MPC) meeting last Tuesday in Abuja, CBN governor, Godwin Emefiele, said that the ban was necessary because the parallel market had become a conduit for illicit forex flows and graft.

He accused the BDCs of going beyond their mandate of selling 5000 dollars per day and abusing the forex sector.

After the announcement, the apex bank directed commercial banks to immediately set up teller points in designated branches for the sale of forex.

The apex bank further advised commercial banks to ensure that no customer was turned back or refused forex, provided that documentation and all other requirements were satisfied.

Recall that the dollar had increased to N505 from N504 at the black market immediately after CBN’s directive.

Follow us on social media
  • Facebook
  • Twitter
  • Instagram

Share this:

  • Twitter
  • Facebook

Like this:

Like Loading...
Tags: CBNCentral Bank of NIgeriaDollarExchange rateForex marketsNaira
Previous Post

Vitaly Shishov, head of Belarusian exile group, found dead in Ukrainian capital

Next Post

Abuja Banks Obey CBN’s Forex Policy, Sells Dollar at N412

Chinonso Ihekire

Chinonso Ihekire

Related Posts

Post COVID-19: Lagos Govt Urges Women to Embrace Agriculture, Skills

Why FG should divert fuel subsidy funds to Agriculture – Farmers

by Segun Adewunmi
June 6, 2023
0

The Federal Government has been urged by the Nigeria Young Farmers’ Network (NYFN) to divert a large percentage of funds...

One million jobs, electricity, other promises of Tinubu to Nigerians during inauguration

Senate grants Tinubu’s request to appoint 20 special advisers

by Idonosan Debe
June 6, 2023
0

The Senate has granted the request of the President, Asiwaju Bola Tinubu to appoint 20 special advisers. President Bola Tinubu...

Next Post
Abuja Banks Obey CBN’s Forex Policy, Sells Dollar at N412

Abuja Banks Obey CBN's Forex Policy, Sells Dollar at N412

Please login to join discussion

Recommended

Court Adjourns Suit Challenging NIN-SIM Linkage, Registration in Lagos

Lagos Court Jails Nursing Mother 6 Years For Drug Trafficking

5 months ago
FRENCH OPEN: DJOKOVIC’S IMPRESSIVE 2020 RUN LANDS HIM IN THE SEMIS

FRENCH OPEN: DJOKOVIC’S IMPRESSIVE 2020 RUN LANDS HIM IN THE SEMIS

3 years ago

Popular News

    Newsletter

    Connect with us

    Tags

    #EndSARS 2023 Elections 2023 polls 2023 Presidency ACCIDENT Africa All progressives Congress APC Asiwaju Bola Tinubu Babajide Sanwo-Olu Bitcoin CBN Central Bank of NIgeria Central Bank of Nigeria (CBN) China Coronavirus pandemic Covid-19 Covid-19 in Lagos Covid-19 in Nigeria Covid-19 Vaccine Cryptocurrency Donald Trump Drug Trafficking EFCC Federal Government Federal Government of Nigeria Fraud Gov. Sanwo-Olu Insecurity Lagos-Ibadan expressway Lagos state Lagos State Government Lagos State House of Assembly Lagos State Police command Muhammadu Buhari Murder Naira NDLEA New naira notes Nigeria Rape Strike action UK United states US

    News

    • Business
    • National
    • Politics
    • Tech

    Opinion

    • Editorials
    • Today’s Opinion
    • Letters
    • Sunday Review
    • Advertise
    • Opinion
    • Features & Interviews
    • Investigation
    • Contact

    © 2020 The Lagos Today - Nkali.

    No Result
    View All Result
    • Home
    • News
      • Lagos News
      • National News
      • World News
    • Entertainment
    • Opinion
    • Business
    • Features & Interviews
    • Best Of Lagos
    • Things To Do

    © 2020 The Lagos Today - Nkali.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    %d bloggers like this: