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Campus Drive
The Central Bank of Nigeria (CBN) has reportedly directed Deposit Money Banks to remove the rate cap on the naira at the Investors and Exporters’ (I&E) Window of the foreign exchange market.
According to the chief executive officer of a commercial bank, he confirmed that banks are now allowed to trade forex on the I & E window at any rate.
This development came barely two weeks after President Bola Tinubu promised to unify the nation’s multiple exchange rates.
Following the development, the naira depreciated to over N700/dollar during trading on the I&E window on Wednesday.
Former Chelsea player and manager John Hollins has died aged 76. The club announced this on Wednesday. Hollins won the FA Cup, European Cup Winners’ Cup, and League Cup during his first period at the club, which ended in 1975. He was Chelsea’s boss from 1985 to 1988 and later had coaching stints at Swansea, Rochdale, and Stockport.
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