Tag: Forex

Unavailability of Forex is Killing Businesses in Nigeria, says Tyre Importer

Motoring World International04 mins

[dropcap]T[/dropcap]he federal government has been accused of causing hardship for businesses in Nigeria by allegedly refusing to release FOREX to importers. Chief Israel Ezue, Chief Executive Officer, White-Gate International Ventures, made the accusation, while fielding questions from the News Agency of Nigeria (NAN) in Orumba, Anambra, on Saturday. Chief Ezue, who attributed high inflation rate…

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Nigeria Auto Industry Groans Under Forex Scarcity

Motoring World International05 mins

…Stakeholders Call for FG Intervention [dropcap]C[/dropcap]urrent scarcity of foreign exchange (FOREX) is taking heavy toll on Nigeria’s fledgling automobile industry, as auto assemblers are starved of foreign currency with which to procure KD kits they require for operations. As Motoring World gathered over the weekend, capacity utilization of affected plants might have dropped badly due…

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