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The Foreign Exchange Market: What You Need to Know - Retail Forex • Spot FX

• The Foreign Exchange Market: What You Need to Know - Retail Forex • Spot FX

• Central Bank of Nigeria has directed all Banks to deposit their excess foreign currency notes with its branches

• EFCC has apprehended over 200 BDC operators across various states in Nigeria in a sweeping crackdown on forex scams

• EFCC has frozen about 300 suspected illegal forex accounts trading on a peer-to-peer platform

• CBN has spent $581 million on forex interventions at the Nigeria Autonomous Foreign Exchange Market - FMDQ

• Central Bank of Nigeria has banned the use of foreign currency-denominated collaterals for naira loans

• Bank of Ghana has suspended two Nigerian-owned banks; Guaranty Trust Bank and First Bank

• CBN to sell foreign exchange worth $20,000 to each eligible Bureau De Change operator across the country

• CBN stops oil companies from remitting 100 percent forex proceeds to their parent company abroad

• EFCC has summoned Dangote officials to Abuja for alleged forex allocation abuse under ex-CBN Governor Godwin Emefiele

• Dangote says $687 million had been successfully repatriated through multiple Nigerian banks

• Nigeria's CBN has decided to lift the forex ban on 43 items, and is also planning to intervene in the forex market

• Foreign airlines increase ticket prices in Nigeria due to trapped funds - As of January this year, foreign airlines flying into Nigeria had about $743m in trapped funds...
Agea Forex Company Voluntarily Dissolves, Encourages Clients to Withdraw Funds — The company did not provide any further details about the dissolution..

• Agea Forex Company Voluntarily Dissolves, Encourages Clients to Withdraw Funds — The company did not provide any further details about the dissolution..

• Nigeria's foreign exchange reserves have experienced a significant decrease in value, dropping by nearly $1 billion in just 71 days...

• Nigerian Banks Reduce Forex Supply for Travel Allowance and School Fees — Several Nigerian Deposit Money Banks have recently cut the amount of dollars available...

• Nigerians will not be able to use their Naira debit cards for international transactions as scarcity of forex worsens..

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