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

CBN’s FX intervention grow by 118 pct to $48 billion

The Central Bank of Nigeria, CBN, cash injection into the nation’s foreign exchange market rose by 118 percent to about $48 billion in 2018 from $22 billion in 2017. The cash injections were dominated by the settlement of matured forward contracts estimated at $16 billion in 2018. The sharp increase was triggered by the decision […]

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Alpari organises training on forex trading

One of the leading companies on forex trading, Alpari has called on Nigerians to venture into currency trading and take advantage of the opportunities that are bound for wealth creation. Speaking during a training organised by Alpari on forex trading, the CEO Alpari Research and Analysis, United Kingdom, Roberto Ambrosio, said the company embarked on […]

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I&E FX window triggered FPI inflow — United Capital CEO

The adoption of the Investors and Exporters Foreign Exchange (I&E, FX) window by the Central Bank of Nigeria (CBN) in 2017 has helped to trigger massive inflow of Foreign Portfolio Investment (FPI) funds into the country. The newly appointed Group Chief Executive Officer, United Capital Plc, Mr. Peter Ashade, who stated this at a media […]

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CBN begins the sales of Chinese Yuan

The Central Bank of Nigeria (CBN) flagged off its intervention in the sale of foreign exchange in Chinese Yuan (CNY), Friday, signaling the consummation of the Bilateral Currency Swap Agreement (BCSA) signed with the People’s Bank of China (PBoC) on April 27, 2018. CBN, in a statement disclosed that the sales would be through a […]

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“ABCON launches live portal to transform FX, keep speculators at bay”

As the Association of Bureaux De Change Operators of Nigeria (ABCON) launched the live rate engine room, www.naijabdcs.com, in Lagos yesterday, its President, Aminu Gwadabe, has predicted that the new initiative would transform the foreign exchange (forex) market and keep speculators at bay. Gwadable, in his address at the event, said the website would be […]

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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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CBN hq

Nigeria’s c.bank injects $210 million into FX market

The Central Bank of Nigeria (CBN) has injected another sum of $210 million into the inter-bank foreign exchange market to meet customers’ requests in various segments of the market. Figures obtained from the apex bank yesterday indicate that CBN offered $100 million to authorised dealers in the wholesale segment of the market, while the Small […]

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CBN hq

CBN pumps $210m into forex market

The Central Bank of Nigeria (CBN) yesterday injected $210 million into the foreign exchange market to sustain its liquidity. CBN Acting Director, Corporate Communications Department, Isaac Okorafor said $100 million was offered to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment got $55 million. The invisibles segment comprising of tuition fees, medical […]

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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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