Forex audit in banks

7m into the Inter-Bank Foreign Exchange Market to meet requests in four sectors of the economy. This came just the naira closed at 363 per United States dollar on Friday, the same rate it had closed in the past one week. Details obtained from the CBN indicated that firms in the agricultural, airline, petroleum and raw materials space received various sums of forex allocation based on requests put forward forex audit in banks their respective banks.

The Acting Director, Corporate Communications Department, CBN, Isaac Okorafor, said the releases underlined the high level of transparency at the bank in forex management. According to him, the CBN will continue to play its role in easing the foreign exchange pressure on the manufacturing and agricultural sectors through sales under the new flexible foreign exchange regime. The naira is expected to remain stable across the various windows as the currency hit a resistance level for investors, Reuters reports. Meanwhile, the Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, has urged investors to come to Nigeria, stating that the nation’s return on investment in all sectors of the economy are among the best in the world. Nigeria emerged from what was its worst recession in decades. The forum was organised by the London Stock Exchange, in collaboration with the Nigerian Stock Exchange and Afrinvest.

In a statement by the CBN, Emefiele was quoted as citing the ongoing reforms and the huge opportunities available to investors in several sectors notably agriculture, solid minerals and infrastructure. CEO of the London Stock Exchange, Mr. CEO of the Nigerian Stock Exchange, Mr. DG of Nigeria’s Debt Management Office, Ms.