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Business CBN Pumps Another $250m into Forex Market
The Central Bank of Nigeria (CBN) has again intervened in the Inter-Bank Foreign exchange Market to the tune of 250 million dollars. Isaac Okorafor, acting director, corporate communications department of CBN, said the apex bank also sold $100 million and uplifted the small and medium...- ProfRem
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Business Nigeria's Central Bank Sells $462m To Boost Forex Market
The Central Bank of Nigeria on Friday sold another $462,336,426.74 to prop up the Naira value and improve consumer prices. This intervention came after the apex bank sold $194 million on Monday. Mr. Isaac Okorafor, the Acting Director in charge of Corporate Communications of the Central Bank...- ProfRem
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Business CBN Injects $195m into Forex Market
The Central Bank of Nigeria (CBN) has intervened in inter-bank Foreign Exchange Market with the supply of $195 million as an effort to stabilise the market. The acting Director, Corporate Communications of the apex bank, Mr Isaac Okorafor, said in a statement on Monday that $100 million was...- ProfRem
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Business CBN Pumps Over $400m Into Forex Market
The Central Bank of Nigeria intervened in the inter-bank foreign exchange market with $413.5 million on monday, to guarantee liquidity in the system. A breakdown of the latest round of intervention shows that $100 million was allotted to the wholesale window, while the small and medium...- ProfRem
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Business CBN Expresses Satifaction In Naira Rate, Pumps $81.2m Into Forex Market
The Central Bank of Nigeria (CBN) on Monday intervened in the foreign exchange market with $81.2 million, covering invisibles and Small and Medium Enterprises (SMEs) segments. The intervention, which came on the heels of $389 million offer in the retail segment of the forex market last weekend...- ProfRem
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Business Nigeria's External Reserves Hit $30Bn
Hopes of further appreciation of the naira brightened as the nation’s external reserve rose to $30 billion, the highest in 13 months. Consequently, the external reserve has risen by $4.2 billion since the beginning of the year, and by $6.2 billion since October 19th, 2016 when it commenced its...- ProfRem
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Business CBN Reinstates 9 Banks Suspended From Forex Market
The Central bank of Nigeria (CBN ) has reinstated the nine banks that were recently suspended from the foreign exchange market. The reinstatement of the banks was announced in Abuja on Wednesday by the CBN Director of Banking Supervision, Mrs. Tokunbo Martins. She explained that the apex...- ProfRem
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Business Nigeria: Forex Market Records $327 Million Trade in One Day
The interbank market recorded an unprecedented inflow of USD327 million, yesterday, with a single transaction of USD270 million by foreign investors. This development drove interbank rate down to N305.5/ USD1, from last Friday’s closing rate of N314.95/ USD1. Bank treasurers said the...- ProfRem
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Business FX Market: CBN Meets Association of Bureaux De Change Operators
The Central Bank of Nigeria (CBN) will meet with representatives of the Association of Bureaux De Change Operators of Nigeria (ABCON) at Clover Hall, Lagos today. According to BusinessDay, the meeting is scheduled to discuss issues concerning ways to deepen and achieve a more vibrant foreign...- ProfRem
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