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CBN injects $240 million into forex

 $240 million has been injected  into the country’s foreign exchange by the  has been injectedinto the nation’s foreign exchange market by the Central Bank of Nigeria (CBN), Monday, to sustain Naira’s gains against the Dollar and other hard currencies. Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele said that, $90 million was to meet […]

CBN injects $240 million to forex market, directs cash payments

The Central Bank of Nigeria, CBN, on Monday injected $90 million to meet requests by bank customers, in its bid to sustain the supply of foreign exchange and ensure liquidity in the market. The spokesperson of the bank, Isaac Okorafor, who confirmed the figure, said the fresh release is to meet invisibles such as basic and personal […]

CBN injects another 0m into FX market : Nigeria

By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN), Monday, injected another $240 million into the nation’s foreign exchange market to sustain Naira’s gains against the Dollar and other hard currencies. Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele Of that amount, $90 million was to meet requests for invisibles such as […]

Naira surprisingly crashes at black market despite CBN’s supply of Dollars ▷ NAIJ.COM

– The improving fortune of the Naira at the parallel market was on Monday, April 3, halted as it depreciated to N395 against the Dollar – The Naira, which closed at N475 to the British Pound and N410 against the Euro last week, now trades at N485 and N415 respectively – ABCON chief Aminu Gwadabe […]

CBN injects another $240m into FX market

By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN), Monday, injected another $240 million into the nation’s foreign exchange market to sustain Naira’s gains against the Dollar and other hard currencies. Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele Of that amount, $90 million was to meet requests for invisibles such as […]

CBN gets tough on forex hoarders

THE Central Bank of Nigeria (CBN) has expressed determination to punish commercial banks and other dealers who are seen to sabotage efforts aimed at making life easier for foreign exchange end users. One of the banks with strong foreign connection was actually fined about N1.5 billion recently for flouting foreign exchange regulations. This is as […]

CBN to inject more dollars in FX Market

The Central Bank of Nigeria is expected to boost the Nigerian Currency by injecting more dollars into the foreign exchange market this week. Acting Director, Corporate Communications, CBN, Isaac Okorafor, said the bank was determined to sustain the provision of liquidity in the foreign exchange market in order to enhance accessibility and affordability for genuine […]

A Case Against Floating The Naira |

Nairametrics| On Friday, the Naira closed at N390/$ down from N520/$ in January. The development follows a change of heart by the Central Bank of Nigeria (CBN), in February 2017, to ramp up Dollar sales towards the retail segment. The Naira appreciation at the parallel market took a lot of people by surprise, and while […]

Naira Down 8% As Investors Seek Dollars For Investment Repatriation

The value of the Naira nosedived last week at the parallel market, despite the continuous injection of Dollars at the official end of the foreign exchange market by the Central Bank of Nigeria (CBN). The Naira which had gained a substantial 30 per cent since the CBN’s efforts at boosting liquidity in late February, depreciated […]

CBN’s complicity in naira crash

LCCI blames CBN over depreciating naira’ was title of a report on page 17 of The Guardian edition of January 19, 2009, in which, Kayode Onafowokan, who is chairman, Lagos Chamber of Commerce and Industry, blamed the Central Bank of Nigeria for ‘the drastic drop in the naira value’. Otunba Onafowokan noted that ‘through acts […]

Anxiety as withdrawal, deposit charges begin — Business — Breaking News, Nigeria News and World News – The Guardian Nigeria

Central Bank of Nigeria Financial inclusion, cashless projects may suffer Banks to blame for parallel market rate rebound CBN to inject to more forex this week There are concerns over the fate of the nation’s financial inclusion project as the first phase of planned full implementation of the accompanying cash-less projects take full course today. […]

External Reserves Down by $67m as CBN Settles Matured Obligations

By Obinna Chima Nigeria’s external reserves dropped to $30.298 billion as at March 30, 2017 following settlement of matured obligations, mainly foreign exchange (FX) forwards, by the Central Bank of Nigeria (CBN). The latest external reserves position showed it fell by $67 million compared with the $30.231 billion it was two weeks ago.As a result […]

Interesting dimensions of Nigeria’s currency war

People are skeptical. They are confused whether there is surplus dollars in the market or not. To some privileged few in the currency market, this doubt shouldn’t arise at all. After all, the supply of a currency which depreciated to N500 per dollar barely two months ago (early February), and now sells for N360/$ can […]

We registered 1.6m shareholders under e-dividend platform –

How is the capital market surviving the recession? We are finding it difficult as following the general trend in the economy, the capital market also witnessed low growth in both the primary and secondary segments of the market. The All Share Index ended year 2016 at  about 26,000 points and  Market Capitalisation  at around […]