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CBN lifts foreign exchange market with $210 million

The Central Bank of Nigeria (CBN) has provided fresh $210 million to meet customers’ requests in various segments of the foreign exchange market. The Bank’s Acting Director, Corporate Communications Department, Isaac Okorafor, in a statement on Monday in Abuja, said that $100 million was offered to authorised dealers in the wholesale segment of the market. […]

CBN injects $210 million into forex market

The Central Bank of Nigeria (CBN) has provided fresh 210 million dollars to meet customers’ requests in various segments of the foreign exchange market. The Bank’s Acting Director, Corporate Communications Department, Mr Isaac Okorafor in a statement on Monday in Abuja, said that 100 million dollars was offered to authorised dealers in the wholesale segment […]

CBN Sells $210m To Boost Dollar Supply

By Nse Anthony-Uko(Sundiata Post) — The Central Bank of Nigeria (CBN) on Monday sold $210million, to meet customers requests in various segments of the foreign exchange market.The apex bank offered $100 million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 […]

Forex Market Gets $210m Boost – The Whistler NG

The Central Bank of Nigeria (CBN) has released the sum of $210 million into different segments of the inter-bank Foreign Exchange Market. Isaac Okorafor, the CBN’s Acting Director in charge of Corporate Communications, who confirmed the figures on Monday, said the latest intervention is meant to meet customers’ requests in various segments of the market. […]

Dollar to Naira black market rate today Monday, 19th February 2018

Dollar to Naira black market rate today Monday, 19th February 2018  Naira starts week on stable note Dollar to Naira black market rate today Monday, 19th February 2018 is N360/N363.  The Exchange rate of dollar to naira has seen the NGN Naira have mixed fortunes against the USD Dollars during the course of last year. At a point last […]

CBN’s new forex policy may shut down BDCs

Indications have emerged that the Central Bank of Nigeria’s recent introduction of uniform foreign exchange (forex) rate on the invisible market by the Central Bank of Nigeria (CBN) may spell doom for bureau de exchange (BDC) operators in the country. Commercial banks, have, in response to the apex bank’s directive to this effect commenced cheap […]

LEAP Africa appoints new board of directors

LEAP Africa has the appointed Mr. Udeme Ufot, the Co-founder and Group Managing Director, SO&U as its Board Chairman.Before his appointment as the Board Chair, Udeme Ufot had served as a non-executive director on the board since 2012. He succeeds Dr. Nadu Denloye, Director at CDNet Ltd/Gte, Former Director, TELNET who […]

Naira remains steady against Dollar amid CBN intervention

The nation’s currency maintained stability week on week against the Dollar in most segment of foreign exchange market following the injection of $210 million by the Central Bank of Nigeria into the market. The CBN allocated $ 100 million to wholesale (SMIS) while $55 million each sold to Small and Medium […]

Banks’ Borrowing From CBN Drops To N260bn

Banks’ borrowing from the Central Bank of Nigeria (CBN) dropped to N260.12 billion last week as liquidity improved on the money market on the back of inflows from Open Market Operation repayment, and reduced mop up by the apex bank. In the previous week, banks had taken out N353.91 billion from the CBN through the […]

Naira depreciates to N305.95/Dollar at CBN’s spot |

Share Tweet Share Share Email …as CBN mops-up N176bn By Kayode Tokede The Naira trading at the inter-bank (official) closed last week at N305.95 against the Dollar amid Central Bank of Nigeria (CBN) $210 million. This represents 0.03 per cent drop from N305.85 the spot window of the CBN […]

Alternative payment channels as panacea for dirty, mutilated naira notes

Efforts by Central Bank of Nigeria (CBN) to ensure that currency in circulation is neat and crisp have been thwarted by culture and carelessness on the part of most Nigerians. SANYA ADEJOKUN here takes another look at the issue and concludes that only a change of attitude would solve the problem. There has been a […]

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Foreign reserves to rise on $2.5b Eurobond issuance

Nigeria’s 42.8 billion external reserves will go up, with the successful issuance of the $2.5 billion Eurobond offer, a report said at the weekend. Besides,  cumulative transactions in the Investors’ & Exporters’ (I&E) forex window have hit $20 billion, said one of the reports on the economy released by two investment and research firms at […]

‘IEFX window, CBN’s most important policy in 2017’

As the Central Bank of Nigeria (CBN) continues to receive commendation from various quarters for the stability of the naira in recent months, analysts at Financial Derivatives Company Ltd have attributed the positive development to the apex bank’s introduction of the Investors and Exporters’ Forex …