Nigeria’s Forex reserves have appreciated by 1.12 billion dollars in the last one month, boosted by a rally in oil prices and a relatively stable foreign exchange market. Data from the central bank shows an increase in the reserves from Read more
The Central Bank of Nigeria intervened in the inter-bank foreign exchange market with $413.5 million today, to guarantee liquidity in the system. A breakdown of the latest round of intervention shows that $100 million was allotted to the wholesale window, Read more
Executive orders to cover larger areas Acting President, Yemi Osinbajo, has called for sanctions against banks and financial institutions involved in illicit flows of financial assets from the country. He spoke yesterday at the conference on promoting international cooperation in Read more
The Central Bank of Nigeria (CBN) started the week with the injection of $457.3 million into the foreign exchange market. The development forced the parallel market rate to retreat further to N386 per dollar, against N388 per dollar recorded at Read more
Budget office hides approved MTEF 2017-2019 Again, the rising cost of debt for the country’s economy, for the third consecutive time, emerged the top three allocations in the national budget, taking a chunk of N1.8 trillion. By the end of Read more
The Central Bank of Nigeria yesterday continued its intervention in the foreign exchange segment of the financial market with the injection of fresh $220 million into the various sectors of the economy. The CBN, in a statement issued by the Read more
Owing to the fall in the naira, which forced banks to violate foreign currency loan limits, the Central Bank of Nigeria (CBN) has extended the guideline to accommodate more borrowings. The new regulation replaces a 2014 rule capping foreign borrowings, Read more
Apex bank pledges to sustain forex supply The Central Bank of Nigeria (CBN) has auctioned $418 million at the marginal rate of N310 to a dollar to airlines, agriculture, petroleum and raw materials sub sectors. The CBN acting Director, Corporate Read more
The Central Bank of Nigeria (CBN) resumes this week’s foreign exchange market intervention today with a disbursement of $240 million. Of the sum, $90 million is for invisibles – business/personal travel allowances, medical, school fees, among others, while $150 million Read more
The Central Bank of Nigeria (CBN) on Sunday reiterated its determination to sustain the provision of foreign exchange with a view to ensuring liquidity in the market and enhance accessibility and affordability for genuine end users. Isaac Okorafor, acting director, Read more