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Naira gains ground as CBN pumps $195m

The Central Bank of Nigeria (CBN) sustains the supply of forex in the market by releasing 195 million dollars. The post Naira gains ground as CBN …

CBN boosts forex supply with $195m

CBN Headquarters, Abuja. Photo: Femi Ipaye/P.M.NEWS The Central Bank of Nigeria (CBN) on Tuesday sustained the supply of foreign exchange to the market by releasing 195 million dollars. The CBN acting Director, Corporate Communications, Mr Isaac Okorafor, who gave a breakdown of the release, said of the amount 150 million dollars was released through wholesale […]

Reps move against dollar fees schools

The House of Representatives is to investigate foreign schools in the country that are charging school fees in foreign currencies. The lawmakers said the trend, which is a breach of the nation’s laws is unacceptable. The lawmakers’ decision followed the adoption of a motion by Kehinde Agboola (PDP, Ekiti) and 15 others where it was […]

CBN increase Dollar availability to support Naira

Home Business CBN increase Dollar availability to support Naira BusinessNews By adminMar 14, 2017, 09:33 am 19 The Central Bank of Nigeria said it sold $80 million to retail customers and another $100 million in currency forwards to increase dollar liquidity and support the naira. The central bank said in a statement it sold $80 […]

Naira eases on official market after CBN dollar sale

Nigeria’s central bank sold the dollar on Monday at its highest level on the official interbank market since August, traders said, pushing down the naira. The local currency fell to 306 per dollar from the 305.50 level it has traded since last year. Traders said the central bank intervened at 305.50 on Monday and then […]

Dollar crashes, Naira appreciates due to expection of further CBN intervention in foreign exchange …

PARIS, MARCH 14, 2017: (DGW) THE Nigerian Naira reportedly appreciated on Monday against the US dollar on the parallel market due to the …

Nigeria: Naira Appreciates to N454/$

By Babajide Komolafe The naira yesterday appreciated against the dollar by N6 in the parallel market due to expectation of further intervention in the foreign exchange market by the Central bank of Nigeria (CBN). Vanguard investigation reveals that the parallel market exchange rate dropped to N454 per dollar at the close of business yesterday from […]

Business – Nigeria: Naira Appreciates Against All Major Currencies at Parallel Market | Nigerian Bulletin

The Nigerian Naira on Monday gained against the Dollar, Pounds and the Euros at the black market. The currency gained three points to exchange at N460 against the dollar, from N463 it opened trading on Monday. It also gained against the Pound Sterling and the Euro closed at N550 and 476, respectively. At the Bureau […]

CBN set to inject more dollars into forex market

Determined to maintain the momentum of strengthening the Naira at the foreign exchange market, there are strong indications that the Central Bank of Nigeria, CBN, will inject more foreign currencies into the market early this week.   Currency speculators are said to be jittery as they could witness further losses in the new […]

CBN to inject more dollars into forex market – Punch

Ifeanyi Onuba, Abuja The Central Bank of Nigeria will this week inject more dollars into the foreign exchange market as part of efforts to improve the level of liquidity in the interbank market. The Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, confirmed the plan to release more dollars into the forex market. Okorafor, […]

Emefiele warns currency speculators on more losses — Business — The Guardian Nigeria

Central Bank of Nigeria Blames crisis on those who frittered reserves The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, at the weekend in Lagos, warned foreign exchange speculators of further losses, as he restated the apex bank’s resolve to support the Naira. He also warned that the CBN will not sit idly […]

Inflation Projected to Decline in February

By Obinna Chima Analysts have predicted that the Consumer Price Index (CPI) for February 2017, expected to be released this week, would decline for the first time in about 16 months.Headline inflation spiked to 18.72 per cent in January as a result of an unexpected jump in food inflation and the impact of record high […]

Exchange rate to go down further – Gistmaster

By Emeka Anaeto, Babajide Komolafe and Prince OkaforThere were indications this week that the foreign exchange market may witness another round of sustained appreciation of the local currency, Naira, against world’s major currencies at the parallel market segment, while narrowing the premium.This came at the backdrop of the resolve of the Central Bank of Nigeria, […]

CBN Set To Inject More Dollars Into Forex Market |

CBN Set To Inject More Dollars Into Forex Market MARK ITSIBOR — Mar 13, 2017 3:52 am | There are strong indications that the Central Bank of Nigeria (CBN) is unrelenting in its move to ensure liquidity in the interbank FOREX market, as signal from the bank shouwed it will inject more foreign […]