TUC accuses CBN of selling forex to moribund companies

  • 📰 TheNationNews
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 69%

Philippines News News

Philippines Philippines Latest News,Philippines Philippines Headlines

Trade Union Congress of Nigeria (TUC) has accused the Central Bank of Nigeria of selling foreign exchange to moribund companies through what it

In a statement signed by its President, Comrade Quadri Olaleye and Secretary General, Comrade Musa-Lawal Ozigi and made available to The Nation in Abuja, the Congress challenge the apex bank to make public the list of companies applying for forex or face legal action.

The statement reads: “the Trade Union Congress of Nigeria challenges the Central Bank of Nigeria to make public the list of companies applying for forex if its report as published in the dailies on the subject matter is anything to go by. It is disheartening to read the apex bank say it is going to reduce its forex to companies at this time. The question is, why punish functional companies?

“These fictitious companies have to be removed from the list so the active ones can manage the little forex that is available. The list has to be released by the CBN; else we may be left with no option than to go to court. “We wish our policy makers manage their private businesses same way they manage the nation’s economy! If we cannot plan to address our deficit in the shortest time possible then there is a problem.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in PH

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CBN Injects Fresh $210m into Interbank Forex Market - THISDAYLIVENume Ekeghe The Nigerian inter-bank foreign exchange market received another boost of $210 million from the Central Bank of Nigeria (CBN) following transactions concluded the previous day. The CBN Director in charge of Corporate Communications, Mr. Isaac Okorafor, disclosed this, adding that authorised dealers in the wholesale sector of the market received $100 million, while …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »

CBN injects $210 into inter-bank forex market – Daily TrustThe Nigerian inter-bank foreign exchange market received another boost of $210 million from the Central Bank of Nigeria (CBN) following transactions concluded on Tuesday. The CBN Director in charge of Corporate Communications, Mr. Isaac Okorafor, disclosed this, adding that authorized dealers in the wholesale sector of the market received $100 million, while the Small and …
Source: Daily Trust - 🏆 13. / 51 Read more »

CBN injects $210 million in interbank forex market..The Nigerian Inter-bank foreign exchange market received another boost of 210 million dollars from the CBN after transactions on Tuesday, July 23.
Source: PremiumTimesng - 🏆 3. / 78 Read more »