Latest News

‘US Fed’s Rate Hike May Affect Portfolio Investments In Nigeria’ — Leadership Newspaper

As inflation rate trends towards the single digit target of the Central Bank of Nigeria (CBN), analysts believe it will not be enough to instigate a rate cut by the Monetary Policy Committee (MPC) as happenings in the global community may spike a reversal of portfolio investments. MPC members at the last meeting held in […]

Maximising currency swap potential

… of United States dollar on the naira, Nigeria, through the initiative of Central Bank of Nigeria (CBN), recently entered into a currency swap agreement …

Will the yuan swap strengthen the naira course? – Punch Newspapers

Henry Boyo In May of this year, Governor of the Central Bank of Nigeria, Godwin Emefiele, enthusiastically confirmed the establishment of a currency trade between China’s bank and its counterpart in Nigeria. Emefiele also reported that details and operational guidelines for ¥ 15bn / N720bn swap would be announced later. CBN’s expectation is, however, that […]

Currency swap deal will boost naira’s status

  High Customs import duty charged on used automobiles has reduced the volume of Roll-on Roll-off (RoRo) vehicles at the Tincan Island Port terminals since the beginning of the year, New Telegraph has learnt. Between January and June 2018, only 15,065 units were imported through the port’s terminals with the Port and Terminal Multi-services Limited […]

‘Forex reserves ease to 13.24months import cover’

  High Customs import duty charged on used automobiles has reduced the volume of Roll-on Roll-off (RoRo) vehicles at the Tincan Island Port terminals since the beginning of the year, New Telegraph has learnt. Between January and June 2018, only 15,065 units were imported through the port’s terminals with the Port and Terminal Multi-services Limited […]

CBN to resume liquidity mop up as N425bn hit interbank |

THE Central Bank of Nigeria (CBN) is expected to resume its liquidity mop up operations this week in response to inflow of N424.9 billion into the interbank money market. ‘); }()); The post CBN to resume liquidity mop up as N425bn hit interbank appeared first on Vanguard News. Source: NairaLift Parrot News

Will yuan swap strengthen naira rate?

Naira maintains N362 rate against Dollar as Nigeria China swap deal takes effect … CBN issues guidelines on Naira-Renminbi swap deal.

Improved Forex supply deflates banks’ e-payment income

6 banks suffer 42% decline By Babajide Komolafe BANKS’ income from electronic payment (e-payment) businesses fell by 11.6 percent in 2017, prompted by the improved foreign exchange supply for invisibles by the Central Bank of Nigeria (CBN) in 2017. Financial Vanguard investigations of the electronic banking income of 12 banks in 2017 showed a significant […]

CBN to resume liquidity mop up as N425bn hit interbank

•External reserves halt downward trend, gain $202m By Babajide Komolafe THE Central Bank of Nigeria (CBN) is expected to resume its liquidity mop up operations this week in response to inflow of N424.9 billion into the interbank money market. Last week the apex bank suspended liquidity mop up by withholding Open Market Operation (OMO) treasury bills, […]

ABCON: currency swap deal ‘ll strengthen naira

•Group demands dollar divestment for BDCs The Association of Bureaux De Change Operators of Nigeria (ABCON) has applauded the $2.5 billion currency swap agreement between the Central Bank of Nigeria (CBN) and the People’s Bank of China (PBoC), saying the deal will promote naira’s sovereignty in Africa. ABCON President, Aminu Gwadabe, who spoke at the […]

$48b foreign reserves, forex interventions keep naira stable

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 […]

‘Currency swap deal with China’ll expand BDCs’ capacity’ – Punch Newspapers

’Femi Asu The President of the Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, has said the currency swap deal between Nigeria and China will expand BDCs’ capacity to handle new business transactions in Chinese currency. The CBN, in May, signed the agreement with the People’s Bank of China to facilitate trade […]

Word on the street: Lafarge, United Capital and MTN

Welcome to our Word On The Street Newsletter. This newsletter takes you behind the curtains and into some of the major talking points, snippets, back stories and behind-the-scenes intelligence that affect the value of your position in the stock market. Do well to sign-up for our mailing list to get more exciting Newsletters. If you […]

CBN Gives Retail SMIS $343.06m Boost  – The Triangle

The retail Secondary Market Intervention Sales (SMIS) has received a boost of $343.06 million from the Central Bank of Nigeria (CBN), following the Bank’s intervention in the Foreign Exchange market on Thursday, June 14, 2018. Figures obtained from the Bank indicate that the amount released was for requests in the agricultural, airlines, petroleum products and raw materials […]