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External Reserves Hit 3-year High at $33.112 Billion

CBN Governor, Godwin Emefiele Obinna ChimaNigeria’s external reserves has risen to a three-year high of $33.112 billion as of October 12, according to figure obtained from the Central Bank of Nigeria’s (CBN) website. The sustained accretion in the reserves is driven majorly by increased foreign currency inflows into the Nigerian fixed income securities market, the […]

Finance Ministry, CBN chart way forward for economy

The Central Bank of Nigeria (CBN) and the Ministry of Finance are collaborating to ensure that the Gross Domestic Product (GDP) growth of 0.55 per cent which brought the country out of recession is sustained. Raising the government’s revenue base through taxation and sustaining banking sector stability through strong regulations are key in keeping the […]

Dollar to Naira black market rate today Tuesday, 17th October 2017

Dollar to Naira black market rate today Tuesday, 17th October 2017  Naira stays firm Dollar to Naira black market rate today Tuesday, 17th October 2017 is N360/N364.  The Exchange rate of dollar to naira has seen the NGN Naira have mixed fortunes against the USD Dollars during the course of the year. Earlier in the year 1 usd […]

The CBN dollar rain has left some people hurting

Bureau De Change (BDC) operators in the country are unhappy with the rate at which the Central Bank of Nigeria (CBN) sells foreign exchange to them, which is higher than that given to banks. This has led to a drop in BDC participation in a weekly auction held by the CBN. “Many BDCs no longer […]

CBN says Nigeria has raked in $10 billion in six months from IE window

By Ibiyode Ibikunle | Nairametrics October 17, 2017 The Governor of the Central Bank of Nigeria Dr. Godwin Emefiele has stated that the nation has recorded an estimate inflow of about $10 billion dollars in six months through the Investors’ and Exporters’ Forex Window since its launch back in April this year. He announced this […]

We don’t owe Union Bank – Ontario

The management of Ontario Oil and Gas Limited has denied any fraudulent sale of refined petroleum products, as alleged by Union Bank Plc in what the company described as a “hurriedly” procured ex parte application filed by the Economic and Financial Crimes Commission ( EFCC ). The company spoke on Monday in the matter of […]

CBN maintains market liquidity with $195m ⋆ The Herald Nigeria Newspaper

The Central Bank of Nigeria (CBN) on Monday continued to maintain liquidity in the Foreign Exchange (FOREX) market by injecting 195 million dollars in the the Nigerian inter-bank foreign exchange market. A statement by the acting Director, Corporate Communications Department of the CBN, Mr Isaac Okorafor indicated that the apex bank would continue to increase […]

FOREX: CBN maintains market liquidity with $195m

The Central Bank of Nigeria is one of the government agencies accused of illegal hire. The Central Bank of Nigeria, CBN, on Monday continued to maintain liquidity in the Foreign Exchange, FOREX, market by injecting 195 million dollars in the the Nigerian inter-bank foreign exchange market. A statement by the acting Director, Corporate Communications Department […]

CBN May Change Monetary Policy Stance—fsdh – Business

By Dipo Olowookere According to FSDH Research, the Central Bank of Nigeria (CBN) may soon change its monetary policy stance if it follows the opinion of the International Monetary Fund (IMF). The IMF, in its World Economic Outlook (WEO) October 2017 edition, noted that it expects the inflation rate in Nigeria in 2017 and 2018 […]

Dollar to Naira black market rate today Monday, 16th October 2017

Dollar to Naira black market rate today Monday, 16th October 2017  Naira starts week on loosing note Dollar to Naira black market rate today Monday, 16th October 2017 is N361/N364.  The Exchange rate of dollar to naira has seen the NGN Naira have mixed fortunes against the USD Dollars during the course of the year. Earlier in the […]

Emefiele woos investors to Nigeria, Bags Forbes Award

Monday, October 16, 2017  5.06PM / CBN ReleaseThe Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has been conferred with the 2017 Forbes Best of Africa Innovative Banking Award by the Forbes Magazine. Presenting the award to Mr. Emefiele at a dinner held at the Willard Intercontinental, Washington, on the sidelines of the Annual Meetings […]

Africa Gets a New Bitcoin Marketplace as Tanjalo Launches in Nigeria

Tanjalo, a blockchain startup in Nigeria has launched an online marketplace where residents can buy and sell bitcoin. The Lagos based company officially began operations on October 12 in a bid to address borderless payments and access to cryptocurrencies in West Africa. Tanjalo’s CTO and Co-founder Tim Akinbo also runs the only node in West […]

Importation’ll kill economy if we don’t kill it – Umeofia, Erisco Foods boss — Nigeria Today

By Louis Ibah President/CEO of Erisco Foods Limited, Mr. Eric Umeofia is demanding that the Federal Government musters the courage to ban the importation of all processed foods that the country has the comparative advantage of producing locally if ongoing efforts to resuscitate the economy is to be realised. Umeofia said the country was endowed […]

CBN Pumps $306 Million into Forex Market – Similar News

CBN Pumps $306 Million into Forex Market – Similar News. CBN Pumps … Naira closes at N362 as CBN injects $297m into FX market. a month ago.