<\/div>\n

\nThe Central Bank of Nigeria, CBN, has released a new foreign exchange policy in the country with immediate effect.<\/p>\n

The new policy is sequel to last Thursday\u2019s directive by the National
\n Economic Council, NEC, for immediate review to stem the widening gap
\nbetween the inter-bank foreign exchange and parallel market rates.<\/p>\n

The CBN said in order to ease the difficulties encountered by
\nNigerians in obtaining funds for foreign exchange transactions, it would
\n henceforth be providing direct additional funding to banks to meet the
\n needs of Nigerians for personal and business travel, medical needs, and
\n school fees, effective immediately.<\/p>\n

The CBN said such retail transactions would be settled at a rate not exceeding 20 per cent above the interbank market rate.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria, CBN, has released a new foreign exchange policy in the country with immediate effect. The new policy is sequel to last Thursday\u2019s directive by the National Economic Council, NEC, for immediate review to stem the widening gap between the inter-bank foreign exchange and parallel market rates. The CBN said in […]<\/p>\n","protected":false},"author":1,"featured_media":46782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-default"],"_links":{"self":[{"href":"https:\/\/www.metronews.ng\/wp-json\/wp\/v2\/posts\/664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.metronews.ng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.metronews.ng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.metronews.ng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.metronews.ng\/wp-json\/wp\/v2\/comments?post=664"}],"version-history":[{"count":0,"href":"https:\/\/www.metronews.ng\/wp-json\/wp\/v2\/posts\/664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.metronews.ng\/wp-json\/wp\/v2\/media\/46782"}],"wp:attachment":[{"href":"https:\/\/www.metronews.ng\/wp-json\/wp\/v2\/media?parent=664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.metronews.ng\/wp-json\/wp\/v2\/categories?post=664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.metronews.ng\/wp-json\/wp\/v2\/tags?post=664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}