The Nigeria-China currency swap deal will not stifle local companies and make the country a dumping ground for Chinese goods, the Central Bank of Nigeria (CBN) said yesterday. The 41 items banned since 2015 will not be valid for the swap exchange, the CBN said. CBN spokesnman Isaac Okorafor said: “The fear is unfounded and […]
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The Central Bank of Nigeria (CBN), yesterday blamed commercial banks in the country for sabotaging its efforts at replacing mutilated notes with new ones. Mr. Isaac Okorafor, Acting Director, Communications Department of CBN, made the allegation in Lagos on Thursday, while reacting to lamentations of Nigerians on the preponderance of dirty and mutilated notes in […]
Read More Cyber criminals have cloned the website of the Central Bank of Nigeria (CBN) with a view to defrauding the unsuspecting public. Against this background, CBN spokesman, Isaac Okorafor, has urged Nigerians to disregard any other website than the bank’s www.cbn.gov.ng. “Our attention has been drawn to a scam being perpetrated by some fraudulent persons whereby […]
Read More The Nigeria’s Central Bank, yesterday, said the nations external reserves rose to $33 billion as at September 14, 2017, riding on the back of increased oil earnings. Governor of the bank, Godwin Emefiele, who spoke through the Acting Director, Corporate Communications of CBN, Isaac Okorafor, at the ongoing 24th seminar for Finance Correspondents and Business […]
Read More The Central Bank of Nigeria (CBN), gave the Naira a further lift against other major currencies yesterday with its injection of another $250million into various segments of the inter-bank foreign exchange market on Tuesday just as the naira appreciated against the dollar, trading at ₦364 to $1 at the parallel market. Figures obtained from the […]
Read More Nigeria’s foreign exchange reserves have stood at a 30-month high at $31.59 billion, as at August 18; the Central Bank of Nigeria data revealed. Nigeria’s dollar reserves have climbed back to a level they last reached in January 2015, shortly before the general elections. The bank, however, did not provide the reason for the increase. […]
Read More In line with naira sustenance programme, the Central Bank of Nigeria (CBN) yesterday injected $254.3 million into the retail segment of the Nigerian inter-bank foreign exchange market. Information obtained from the CBN, yesterday, indicated that the deals in the retail window represent requests from the various sectors in the Secondary Market Intervention Sales (SMIS), thereby […]
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The Central Bank of Nigeria (CBN) yesterday injected a total sum of $388.66 million to the retail segment of the interbank window of the foreign exchange market. Yesterday’s injection was to meet the bids submitted by dealers since Tuesday, May 2, 2017. Confirming the numbers, the Acting Director, Corporate Communications Department at the CBN, Isaac […]
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The Central Bank of Nigeria on yesterday vowed to sustain its intervention in the foreign exchange market to ensure liquidity in that segment of the financial sector. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, stated this in a statement issued in Abuja. He said as part of its determination to make forex available […]
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