FILE PHOTO: Central Bank of Nigeria's logo is seen on the headquarters building in Abuja, CBN

CBN denies alleged FX manipulation

The Central Bank of Nigeria on Monday denied involvement in foreign exchange manipulation as alleged in one of the national dailies. The bank’s Director, Corporate Communications of the CBN, Mr Issac Okorafor made the denial on its website. The regulator noted that the story by BusinessDay Newspaper titled, “Exposed The Sleazy Face of ₦306/$1, inside […]

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FILE PHOTO: Central Bank of Nigeria's logo is seen on the headquarters building in Abuja, CBN

CBN recorded $40.9 billion FX inflow in 9-month

Between January and September last year, a total foreign exchange inflow of $40.93 billion was recorded by the Central Bank of Nigeria. The inflow of $40.93 billion, when compared with the $27.95 billion recorded in the first nine months of 2017, represents an increase of $12.98 billion. An analysis of the third quarter economic report […]

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FSDH

FSDH urges Firms’ to limit FX exposure

The anticipated hike in interest rate by the Federal Open Market Committee (FOMC) of the United State Federal Reserve is expected to have a negative impact on foreign capital inflows into Nigeria as well as on foreign exchange (FX) rate. Owing to this, analysts at FSDH Merchant Bank have advised companies in Nigeria to limit […]

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U.S. Dollar held with Nigerian Naira

CBN lifts FX market with $210 million

In its desire to ensure the availability of forex and also meet customers’ requests in various segments of the market, the Central Bank of Nigeria (CBN) has injected another sum of $210 million into the inter-bank Foreign Exchange Market. Figures obtained from the bank on Monday, indicated that the apex bank offered $100million to authorised […]

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FG to begin strict physical movement of USD, FX currencies

The Nigerian Government is set to begin strict border controls on the physical movement of commodities like dollars and other foreign currencies. This is expected to quell foreign exchange scarcity and check money laundering activities, it was learnt. A draft law to ease dollar shortage by restricting movement of hard currencies in and out of […]

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CBN inject fresh $195m into forex market

In what has become a sustained intervention, the Central Bank of Nigeria (CBN), yesterday, injected additional $195 million into the inter-bank foreign exchange market to keep it liquid. Figures released by the apex bank show that it injected $100million into the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received $50 million. The […]

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CBN hq

CBN again inject $250 million into FX market

The Central Bank of Nigeria (CBN), has once again injected another sum $250 million into the forex market. This is as a result of its relentless effort to keep the inter-bank foreign exchange market liquid.. A breakdown of Monday’s intervention indicates that the wholesale sector was offered the sum of $100 million, just as the […]

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CBN will continue to sustain FX interventions

The Nigeria’s Central Bank on Friday assured of its continued intervention in the inter-bank foreign exchange market in order to sustain liquidity and stability in the sector. The Acting Director, Corporate Communications Department at the apex bank, Isaac Okorafor, stated this in Abuja. He said the measures being taken by CBN had yielded positive results […]

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‘FX from non-oil export can spur Nigeria’s economic growth’

The Nigerian Export Promotion Council (NEPC) has said that only forex earnings made from export of non-oil products will spur Nigeria’s sustainable economic growth,. Its Chief Executive Officer Mr. Segun Awolowo made this known at the Quarterly Lecture organised by the former Director General of National Poverty Alleviation Programme (NAPEP), Dr Magnus Kpakol, in Abuja. […]

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Naira

CBN injects $297 million into forex market

Naira edge up on Thursday as the Central Bank of Nigeria (CBN) injected $297 million into the Retail Secondary Market Intervention Sales (SMIS) segment of the foreign exchange market, raising the total intervention for the week to the sum of $547 million. The intervention boosted its rate as it closed at ₦362 to the dollar […]

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CBN hq

CBN grows FX market with $195 million

Nigeria’s apex Bank; Central Bank of Nigeria (CBN) yesterday further energised the foreign exchange market with additional $195 million for the three segments. In the wholesale segment of the inter-bank foreign exchange market, the apex bank auctioned $100 million and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with the sum […]

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CBN hq

CBN injects $195 million into interbank market

The Central Bank of Nigeria (CBN), in continuation of its drive to ensure liquidity and stability in the foreign exchange (forex) market, has injected another $195 million into various segments of the inter-bank forex market. A breakdown of the figures by the CBN yesterday, Monday, shows that $100 million was offered to authorized dealers in […]

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