PVS: Definition, Launch Date, and How It Works Nigeria’s apex bank will launch Go- Live of the FX Price Verification System (PVS) on August 31, 2023, it said in a statement Thursday. What is Forex Price Verification System? The Forex Price Verification System is a foreign exchange price verification system designed for importers to have access to … Read more
Foreign currency inward transfer commonly referred to as FX inflow is foreign currencies sent from another country to the other e.g. money sent from the United Kingdom to the United States. For an individual, it is a currency sent from another country to the domiciliary account of a recipient in another country. The most popular currencies … Read more
Takeaways: USD/NGN exchange on GTB FX sales was $/N1,130 on Tuesday, April 16, 2024, as the Naira continued to rebound both at the parallel market and on NFEM. The bank uses the prevailing exchange rate on the Nigerian Foreign Exchange Market (NFEM). This means dom account holders can sell their foreign earnings to the bank … Read more
UPDATE: The Central Bank of Nigeria has cancelled I & E window after the unification of all the exchange rate windows. It is now known as Nigerian Foreign Exchange Market (NFEM). The latest development followed the decision of Nigeria’s apex bank to abolish multiple exchange rates into the I&E FX Window on Wednesday, June 14, 2023. … Read more
Africa’s financial landscape has witnessed the rise of remarkable individuals whose prowess in trading and investing has propelled them to the forefront of the continent’s economic growth. These astute individuals have leveraged their insights, acumen, and unwavering determination to carve out a path of financial success. Infomediang.com takes a look at the profile of three … Read more
The announcement of the Central Bank of Nigeria (CBN) on Wednesday, June 14, 2023, is good and bad news for Form A applicants, especially Nigerian students seeking to pay fees abroad. Let’s talk about the bad news: before the floating of naira, form A applicants got an official rate of 463.38/USD for their forex needs. … Read more
Nigeria’s apex bank says naira4dollar scheme will end by June 30, 2023. The scheme was introduced by on March 5, 2021. This cessation of the scheme becomes necessary as a result of the unification of the exchange rate on the order of President Bola Tinubu. CBN’s Director of Financial Markets Dr. Angela Sere-Ejembi in a … Read more
Following the unification of the exchange rate by President Bola Tinubu, $/NGN is now determined by the prevailing to unify the prevailing market exchange rate. What does it mean to float the naira? Floating the naira means that the Central Bank of Nigeria is no longer controlling or fixing the value of the Nigerian currency … Read more
Indices trading provides traders with an opportunity to participate in the performance of a basket of stocks, representing a specific sector or the overall market. The popularity of indices trading has grown significantly over the years due to its potential for diversification and exposure to broad market trends. Let’s explore 5 popular indices trading strategies … Read more
Form A applicant is now required to submit valid three years Tax Clearance Certificates (TCCs). The new directive is from the Central Bank of Nigeria (CBN). In a message sent to one of our writers, the message reads: “Effective Thursday, 01 June 2023, customers initiating Form A requests will be required to provide a valid … Read more