civil servants can't access forex allowances Thursday, July 30, NewsdzeZimbabwe 0 CIVIL servants are facing challenges utilising US$75 deposited into their accounts by Government as a flat 5/20/ · We Can’t Access Forex to Pay Our Debts – Oil Marketers tell FG. Published. 5 years ago. on. May 20, By. NAN. Minister of State, Petroleum Resources, Ibe Kachikwu Please note that foreign exchange and other leveraged trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary
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News Promotions, cant access forex.com. Cant access forex.com News, cant access forex.com. BN TV News. Career News Promotions. Minister of State, cant access forex.com, Petroleum Resources, Ibe Kachikwu. Oil marketers on Friday in Abuja called on the Federal Government to assist them in making foreign exchange available for the importation of petroleum products.
The marketers, under the umbrella of the Depot and Petroleum Products Marketers Association of Nigeria DPPMANmade the plea during a meeting with the Minister of Cant access forex.com, Kemi Adeosun held at the headquarters of the ministry. The News Agency of Nigeria NAN reported that the meeting, chaired by the minister, was attended by Chief Executive Officers of 46 major oil companies in the country.
It was held to discuss salient issues affecting the downstream sector of the petroleum industry, cant access forex.com. The Chairman of DAPPMAN, Dapo Abioduntold the minister that members of the association were currently having a tough time converting some of the Naira payments made by the government to dollars. He said their inability to convert these payments from the Federal Government from Naira to dollar was making it difficult for them to meet their obligations to their foreign partners.
He said while the oil marketers would continue to do their best in importing petroleum products into the country, the unavailability of foreign exchange might make it challenging to achieve such objective.
NAN recalls that Federal Government had paid the oil marketers N The amount, according to the Federal Ministry of Finance, is to enable them to import petroleum products and meet up their other financial needs. Abiodun said except the Central Bank of Nigeria provided foreign exchange to oil marketers, cant access forex.com, the payment made by the government for fuel imports would continue to sit in their Naira accounts.
We look forward to dialoguing with you as to how you can help us expedite the sourcing of foreign exchange to liquidate our exposures to our foreign bankers that we have line of credit with. We believe that it is a quick fix solution to all the epileptic supply of petroleum products in the county. However, cant access forex.com, we still have this Naira sitting in our account from previous transactions and we are worried that if anything happens to the rate of exchange officially, we are going to be caught in between.
Adeosun said the payment recently released by the government to the oil marketers was one of the liabilities inherited by the current administration. She said the government would continue to do what it could to ensure availability of petroleum products in the county, cant access forex.com.
She expressed optimism that the reforms currently being implemented in the oil sector would restore confidence in the market. The News Agency of Nigeria NAN was established by the Federal Government of Nigeria in May to gather and distribute news on Nigeria and cover events of interest to Nigeria at the international level for the benefit of the Nigerian Media and the Public.
Minister of Finance addressing any real issue in her statements as regards the cant access forex.com of forex by the marketers to facilitate their imports.
A balance needs to be struck and pretty soon too or we are back to making jerry cans our briefcases. They should learn how manufacturing companies have been surviving and managing to stay afloat. Problem is fg put a cap on how much u can sell fuel.
My thoughts exactly! Other industries — the manufacturing sector inclusive — have been coping without forex since CBN placed a cant access forex.com on forex access to 41 items last year. So they should join the parade, and find their way. But come o, what will CBN now be using all the forex accruing to cant access forex.com national accounts to do, since they no longer provide to oil marketers?
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, time: 4:06We Can't Access Forex to Pay Our Debts - Oil Marketers tell FG | BellaNaija
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