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The Central Bank of Nigeria (CBN) has directed the Nigerian Customs Service (NCS) and other related parties to adopt the same foreign exchange rate from the importation of goods and services on its clearance. The apex bank gave the directive in a memo dated February 23, 2024 with a reference number: TED/FEM/PUB/FPC/001/007 and signed by its Director, Trade and Exchange Department, Dr. Hassan Mahmud.
The Nigeria Employers’ Consultative Association, NECA, has advised the Federal Government to eschew pride and review the removal of fuel subsidy and the floating of nation’s currency, the naira, w
NECA’s position came on a day oil marketers, under the aegis of the Natural Oil and Gas Suppliers Association of pleaded with President Bola Tinubu to peg the exchange rate of the naira to the dollar at the 2024 budget benchmark of N750/dollar.