The Central Bank of Nigeria (CBN) has intervened in inter-bank Foreign Exchange Market with the supply of $195 million as an effort to stabilise the market. According to the acting Director, Corporate Communications of the apex bank, Mr Isaac Okorafor, $100 million was offered through the wholesale segment. The Small and Medium Enterprises (SMEs) segment […]
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The Central Bank of Nigeria (CBN) has injected $142.5 million into the inter-bank foreign exchange, days after intervening in the retail segment of the market with $254.3 million. The spokesperson of the apex bank, Mr Isaac Okorafor, in a statement, said on Monday that CBN would continue to carry out its regular mediation in the […]
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Nigeria’s troubled economy will record tremendous improvement by the third quarter of the year, the Central Bank of Nigeria (CBN), has predicted. The Director of Banking Supervision of CBN, Mr Ahmed Abdullahi, told newsmen that the prediction was the outcome of the 333rd Bankers’ Committee meeting in Lagos. According to him, this is because the […]
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The Central Bank of Nigeria (CBN) on Tuesday intervened in the inter-bank market to the tune of $482.6 million in the first trading day after the democracy day celebrations. This is coming at a time when the country’s reserves is experiencing a steady and gradual decline. A statement issued by Isaac Okorafor, acting director, CBN […]
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Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) met with President Muhammadu Buhari at the presidential villa in Abuja on Thursday. Speaking with state house correspondents after the meeting, Emefiele said he briefed the president on the stability in the foreign exchange market and other activities of the apex bank. He said Buhari […]
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The Central Bank of Nigeria (CBN) has directed Deposit Money Banks to suspend charges on over-the-counter or ATM withdrawals of above N500,000 or deposit of same amount. The apex bank’s Director, Banking and Payments System Department, Mr Dipo Fatokun, in a circular dated April 20, 2017, said all the charges introduced in February, and meant […]
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The Central Bank of Nigeria (CBN), on Tuesday slashed the rate at which it sells forex to Bureaux De Change (BDCs) in Nigeria to N360 and directed the BDCs to sell to end users at not more than N362 to a dollar, the News Agency of Nigeria, NAN, reports.. This is coming barely 24 hours […]
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The Central bank of Nigeria, CBN, on Monday directed all deposit money banks to immediately commence the sale of foreign exchange to their customers at not more than N360 to the dollar. The spokesperson of the CBN, Isaac Okarafor, said all customers requesting forex for their basic transport allowance and personal transport allowance, tuition and […]
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The Central Bank of Nigeria (CBN) on Tuesday sustained the supply of foreign exchange to the market by releasing 195 million dollars. The measure had a resonating effect on the Parallel market: the naira gained some grounds against the US dollar, exchanging for N452 as against N455 on Monday. The CBN acting Director, Corporate Communications, […]
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Commercial banks in Nigeria are seeking customers to buy surplus foreign currencies they hold following the flooding of the banks with dollars by the Central Bank of Nigeria (CBN). In an effort to support and shore-up the value of Naira, CBN resolved to flood commercial banks with dollars. The banks are reported to be holding […]
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