4 May 2025
09:43

TOSCAD NEWS NIGERIA

News as it breaks

Tag: #forex

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JUST IN: Bank Of Ghana Suspends GTB, First Bank’s Forex Licences

Wendy R.

The Bank of Ghana has suspended the Foreign Exchange Trading Licences of two Nigerian-owned banks, Guaranty Trust Bank Ghana Limited and FBNBank Ghana Limited. The suspension takes effect from March 18, 2024, for one month. The suspension was announced in a statement, on Monday, by the Ghanaian apex bank. The suspension comes in response to various breaches of foreign exchange market regulations which include incidents of fraudulent documentation within their foreign exchange operations. “Bank of Ghana has suspended the Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN), effective 18th March 2024, for…

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Rice Remains Restricted Despite Lifting Of Forex Ban – Customs

Wendy R.

Despite the skyrocketing cost of rice and the recent halt on the ban of foreign exchange for its imports, the crop is still a restricted commodity, the Nigeria Customs Service has declared. Rice, a staple food widely consumed in Nigeria, has been rising in price despite its production locally. The commodity now sells for between N55,000 and N60,000 for a 50kg bag, depending on the area of purchase. Its price was around N30,000 for the same 50kg bag about a year ago, but the cost has maintained a northward drive despite the local production of rice and the recent lifting…

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