Telecom operators want direct FX allocation

The Association of Licensed Telecommunications Operators of Nigeria (ALTON), has called for direct Foreign Exchange (FX) allocation for the telecommunications sector. ALTON Chairman, Mr Gbenga Adebayo, said in a statement in Lagos on Saturday that the sector deserved to be supported with such allocation from the Central Bank of Nigeria (CBN). Adebayo said that operators […]

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Naira plunges to 352 as Dollar scarcity grew further

SCARCITY of foreign exchange, especially the United States dollar, made the Nigeria naira to fall further on Tuesday to 252 against the greenback at the parallel market. The increasing pressure on the naira is caused by high demand for the dollar by importers and speculators, foreign exchange dealers said. The local currency had weakened to 345 […]

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