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What $2.5b currency swap deal means for banks, economy

The much-awaited guidelines for the $2.5billion currency swap deal between the Central Bank of Nigeria (CBN) and The Peoples Bank of China (PBoC) have been unveiled. The deal will widen the trade window for local banks and increase their revenues. But, it could worsen the widening trade gap between Nigeria and China. The deal, which […]

Is retention of MPR by CBN good for the economy? – Punch Newspapers

Mr Buchi Ejiogu (Economist/ public affairs analyst) I think the Central Bank of Nigeria is right on this and the retention of the MPR at 14 per cent is right. This is because the economy is still within the high risk region when you consider the volatility of foreign exchange. It is true that inflation […]

Inflation decline: Don advises FG

A don, Dr Charles Nwaekeaku, has said that the progressive decline in inflation rate is heartwarming, but advised the Federal Government to plan more rather than jubilate as the development is temporary. Nwaekeaku, an Associate Professor at Nassarawa State University, Keffi, gave the advice in an interview with the News Agency of Nigeria (NAN) on […]

DURO’S RUSSIA NOTES… – THISDAYLIVE

NAIRA DEBIT CARD MESS All around the world, Nigerians have the reputation of paying cash for most of their transactions. The introduction of debit/credit cards by most Nigerian banks has hardly changed that attitude of carrying cash around. Although the fear of losing such funds to thieves has sort of reduced that attitude. Here at […]

ABCON Backs CBN-PBoC Currency Swap Deal

Gwadabe disclosed that the currency swap deal was part of the CBN’s plan to keep the naira stable and protect the foreign reserves domiciled in …

10 things to know in markets this week and the 2018 budget – Politics

‘); }else{ document.write(”); fbAsyncIds.push(‘fwid4’); fbStatUrls.push(‘https://www.blick.ch/stats/?rt=1&objId=8511158&type=article&ctxId=3782&pubId=2&cat=news&meta=like&title=10+things+you+need+to+know+in+markets+this+week+and+the+2018+budget&url=http%3A%2F%2Fwww.pulse.ng%2Fbi%2Fpolitics%2F10-things-to-know-in-markets-this-week-and-the-2018-budget-id8511158.html’); }} /* ]]> */ Here are the few things to know in the Nigeria finance, politics and tech corridor this week. Businesses and economic activities resume after the celebration of Eid el Fitr nationwide. Politics 1. Nigeria’s Muhammadu Buhari to sign 2018 budget into law this week 2. The Association […]

CBN forex interventions, $48b foreign reserves keep naira stable

CBN forex interventions, $48b foreign reserves keep naira stable The naira will remain stable at both the official and parallel markets, with the rise in [.

CBN’s liquidity mop up resume as ₦425bn flows into the interbank

The Central Bank of Nigeria (CBN) is expected to resume its liquidity mop … In the parallel market the naira appreciated by 40 kobo as the exchange …

FOREX – All About The Currency Swap Deal (Naira For Renminbi) |

The CBN on Thursday release the framework for the operations of the Bilateral Currency Swap Agreement executed between the People’s Bank of China and the Central Bank of Nigeria. The agreement is for a maximum of CNY15billion for NGN 720billion within the beast 3 years. The swap agreement allows both banks to make liquidity available […]

Will Yuan swap strengthen naira rate? – NNU POST

By Henry Boyo IN May this year, Godwin Emefiele, the CBN Governor; formally, enthusiastically, confirmed the establishment of a currency deal between the Bank of China and its Nigeria counterpart; Emefiele, however also reported that the details and operational guidelines relating to the ¥15bn/N720bn swap would be announced later. Naira The CBN’s expectation, however, is […]

Will Yuan swap strengthen Naira rate? By Henry Boyo

In May this year, Godwin Emefiele, the CBN Governor; enthusiastically, confirmed the establishment of a currency deal between the Bank of China and its Nigeria counterpart; Emefiele, also reported that details and operational guidelines relating to the ¥15bn/N720bn swap would be announced later. The CBN’s expectation, however, is that the swap agreement “will ‘see’ both […]

Analysts see CBN’s forex intervention stables Naira to the Dollar as foreign reserves hit $48bNaija247news

The naira will remain stable at both the official and parallel markets, with the rise in foreign reserves to $48 billion and the consistent dollar interventions by the Central Bank of Nigeria (CBN), analysts have said. Analysts at Afrinvest, an investment and research firm, said with oil prices above $70/barrel and the look-good state of […]

ABCON urges CBN to consider disbursing Yuan to BDCs

The Association of Bureaux de Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to consider diversifying dollar disbursement to BDCs with percentage amount of Yuan to meet the needs of their clients travelling to China.  ABCON President Alhaji Aminu Gwadabe made the call over the weekend while  applauding the […]

ABCON asks Central Bank to diversify forex disbursement — Business — The Guardian Nigeria Newspaper – Nigeria and World News

ABCON President,Aihaji Aminu Gwadabe The Association of Bureaux De Change Operators of Nigeria (ABCON), at the weekend, urged the Central Bank of Nigeria (CBN) to diversify its foreign exchange (forex) disbursements in the thrice-weekly intervention to them. In the new call for the expansion of the currency dealers’ reach in the official forex market includes […]