3psmars

Wednesday 19.06

°C
Article Image

The Nigerian central bank has imposed new foreign exchange controls to try to stem the flow of dollars out of the country. It means importers will not be able to get hard currency to buy a list of 40 items ranging from rice to cement. The list includes Indian incense, plastic and rubber products, soap and even private jets.

It has also restricted access to the interbank currency market for the purchase of foreign currency bonds. In April, the central bank limited the amount that Nigerians could spend on credit cards abroad. The Nigerian currency, the naira, has plunged because of the fall in the oil price. Read More: 



Related Content

3PSMARS Analytics

7/28/2015

Effect of food importation on Foreign Reserve

Nigeria became a net importer of food and major importer of wheat, rice, sugar and fish.

3PSMars Admin

Resources

10/7/2014

Nigeria Country Report

Nigeria Country Report

3PSMars Admin

People's Parliament

7/30/2015

Nigeria in Diaspora

As a Nigerian in the Diaspora I would love to go back after I finish my education to pursue my own dreams but realistically we are faced with obstacles that cause many diasporans to become reluctant to return back to Africa to start up a business. Here are my reasons why…

3PSMars Admin

3PSMARS Analytics

7/30/2015

Nigeria in Diaspora

Nigeria in Diaspora by VENTURES AFRICA – On one of my social media networks I spotted a comment that said “By the time Africans get featured in an article like this the gNigerians old rush will be over.”

3PSMars Admin

Resources

7/7/2020

International Seminar on Africa’s Ethics of Care Facing COVID-19

In African culture and spiritual life, the conception of togetherness has grounded a categorical responsibility for caring for the community, addressing its needs, and safeguarding its communal essence.

3PSMars Admin