The Central Bank of Nigeria, CBN, on Tuesday injected about $280 million into various sectors of the market in its determination to sustain liquidity in the foreign exchange market since the commencement of its weekly $20,000 sale to licensed Bureau de Change operators. The bank also announced the opening of bids for $100 million wholesale […]
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The Central Bank of Nigeria (CBN) has released an emergency mobile phone line for customers denied access to foreign exchange by banks for medical bill and school fees. CBN also released email address for immediate complaint against any commercial bank that denies a customer access to foreign exchange. The customers have been advised to either […]
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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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The naira on Monday appreciated in all the major segments of the foreign exchange market, the News Agency of Nigeria (NAN) reports. The Nigerian currency gained three points to exchange at N460, from N463 posted on Friday, while the Pound Sterling and the Euro closed at N550 and 476, respectively. At the Bureau De Change […]
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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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The Association of Licensed Telecommunications Operators of Nigeria (ALTON) said in Lagos on Saturday that the sector deserved to be supported with direct Foreign Exchange (FX) allocation. ALTON Chairman, Mr Gbenga Adebayo who said this in a statement added that with such allocation from the Central Bank of Nigeria, the challengers operators faced while trying […]
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The Central Bank of Nigeria (CBN) on Tuesday injected another sum of 100 million dollars into the interbank foreign exchange market, its acting Director, Corporate Communications, Isaac Okorafor has said. Okorafor said the measure became necessary as part of the initiatives to make Forex easily accessible, thereby crashing demand at the black market. The director […]
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The dollar on Monday crashed against the Naira, as the Nigerian currency gained 5 points at the parallel market against the greenback. The Naira traded at N460 to a dollar, after speculators had forced it 3 points down amid liquidity boost on Friday. However, the Naira weakened against the Pound Sterling but maintained its Euro […]
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The Central Bank of Nigeria (CBN) has directed commercial banks to henceforth process and meet the demand for dollars and other foreign currencies within 48 hours. In a circular made available to journalists, on Sunday in Abuja, the Director, Financial Markets Department,CBN, Dr Alvan Ikoku said the order would further make foreign currencies readily available […]
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