Reviews

CBN injects $210 million into forex market to support naira – Finance

news Nigeria’s central bank (CBN) on Tuesday, injected another $210 million in the inter-bank foreign exchange market to sustain the local currency. The apex bank said the authorised dealers in the wholesale segment of the market received the sum of $100 million while the Small and Medium Enterprises (SMEs) and Invisibles segments were allotted the […]

Naira gains against the dollar at parallel market

The naira on Wednesday gained 50 kobo to exchange at N361 to the dollar at the parallel market in Lagos.The News Agency of Nigeria (NAN) reports that the naira had exchanged at N361.5 to the dollar on Tuesday.The Pound Sterling and the Euro closed at N475 and N412.5, respectively.At the […]

Nigeria: Apex bank injects $210m into forex market

Published on 14.11.2018 at 19h21 by APA News The Central Bank of Nigeria (CBN) has injected $210 million into the interbank foreign exchange market.According to the figures released by the CBN on Monday in Abuja, the authorised dealers in the wholesale segment of the market received $100 million, while the SMEs […]

185,000 unemployed youth to access CBN loans nationwide ― Argungu  

THE Director General, National Directorate of Employment (NDE), Dr Nasiru Mohammed Ladan Argungu, has revealed that 185, 000 unemployed persons are to benefit from the Central Bank of Nigeria Agri-Business Small and Medium Enterprise Investment Scheme (AGSMEIS). The beneficiaries, who are young artisans expected to be the next generational cosmetology product producers, fashion designers, farmers, […]

Inside CBN’s 2018 half year report – Daily Trust

The Central Bank of Nigeria (CBN) has released its half year 2018 (Jan to June) activity report 2018.The report posted on its website showed that the Apex Bank has spent $9.499bn to defend the naira.The report showed the sustained interventions by the CBN led to the naira stability during the period under review.“A total of […]

Pressure on Reserves, Stability of FX Policy

Wednesday, November 14, 2018 / 11:30 AM / FBNQuest Research   Today’s chart shows the stability in the fx market since the launch of the CBN’s reforms in Q1 2017. That stability has been maintained by the CBN despite the US$6bn depletion of official reserves since the end of June. The retreat of some foreign portfolio investors (FPIs) in response to […]

CBN Supplies $210m to Currency Traders

The Central Bank of Nigeria (CBN) on Tuesday, November 13, 2018, provided … He also expressed optimism that the Naira will continue its strong run …

Nigeria: Naira Remains Firm Despite Stronger Dollar

By Bukola Idowu As the Dollar strengthened, the value of the Naira continued to remain stable amidst a tumbling currency trend in emerging economies as Nigeria rides on the rising price of crude oil at the international market. The value of the Naira on the streets have remained stable at N363 to the Dollar while […]

‘Why banks shun CBN’s incentives’

Nigerian banks are proving reluctant to take advantage of new rules aimed at boosting loans to the country’s agriculture and manufacturing industries, Bloomberg reported yesterday. The measures introduced by Central Bank of Nigeria (CBN) in August in the hope of stimulating growth, allow banks to use funds that are otherwise sitting in their statutory cash […]

Naira trades strong as CBN injects $210m into forex market

In its latest round of intervention, the Central Bank of Nigeria (CBN) on Tuesday, November 13, 2018, injected the sum of $210 million in the inter-bank …

Why banks shun CBN’s new loan rules on agriculture, manufacturing industriesNaija247news

FILE PHOTO: Farmers stand at a cocoa farm in Agboville, Ivory Coast April 24, 2017. REUTERS/Luc Gnago Emele Onu Nigerian banks, facing challenges on many fronts, are proving reluctant to take advantage of new rules aimed at boosting loans to the country’s agriculture and manufacturing industries. The measures introduced by Nigeria’s central bank in August, […]

Central bank urges media collaboration in educating depositors

Premium Times The Central Bank of Nigeria (CBN) has urged media practitioners to collaborate with financial regulators in the country to educate depositors on financial literacy and inclusion. The Head, Financial Inclusion Secretariat, CBN, Mrs Temitope Akin-Fadeyi said this at a workshop for Business Editors and Finance Correspondents Association of Nigeria (FICAN) on Tuesday in […]

CBN urges media collaboration in educating depositors

NAN The Central Bank of Nigeria (CBN), has urged media practitioners to collaborate with financial regulators in the country to educate depositors on financial literacy and inclusion. The Head, Financial Inclusion Secretariat, CBN, Mrs Temitope Akin-Fadeyi said this at a workshop for Business Editors and Finance Correspondents Association of Nigeria (FICAN) on Tuesday in Benin. […]

MTN set to enter Nigeria’s Mobile Money market

MTN Group has revealed plans to apply for payment banking license in Nigeria and launch a service in the country by the second quarter of 2019. According to MTN Chief Executive, Rob Shuter “We will be applying for a payment service banking license in Nigeria in the next month or so, and if all goes […]