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ANALYSIS: CBN forex ban will likely raise prices further Here s how it ll affect you
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Breaking News | Investments In FG s Treasury Bills Weaken, Sales Fall 19% To N1 35trn
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Analysts Differ on Buhari s Quest for Fresh N2 3tn External Loan
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TheCable understands that the decision was taken because exchange rates change daily and nobody uses the rate on CBN website.
This implies that the importer and exporter window (I&E) is now the default reference exchange rate for official transactions in the country.
The I&E FX window is the market trading segment for investors, exporters and end-users that allows for FX trades to be made at exchange rates determined based on prevailing market circumstances.
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The window was
introduced in 2017 by the CBN to improve foreign exchange market mechanisms, deepen market liquidity, and ensure prompt execution and settlement of all fx transactions.
Vanguard News
Money Printing: LCCI lists more ills of Ways & Means
On
•More analysts raise alarm over deteriorating public finance
By Babajide Komolafe, Yinka Kolawole & Nkiruka Nnorom
ECONOMY
There appears to be more controversies surrounding the alleged borrowing by the Federal Government to argument the March 2021 statutory allocations as the Lagos Chamber of Commerce and Industry, LCCI, and economic analysts indicated that the situation is even worse and could lead to further depreciation of the naira as well as send negative signals to the citizens on the state of government finance.
The Governor of Edo State, Godwin Obaseki, had told a stakeholders meeting last Thursday in Benin City that the FG printed about N60 billion to top up the amount meant for distribution to the three tiers of government as inflow from the Federation Accounts Allocation Committee, FAAC.