The Central Bank of Nigeria (CBN) pumped $150 million into the foreign exchange market, via the interbank window, but dealers could only pick up $96.37 million due to fall in dollar demand. CBN also commenced interventions in the new “Investors’ & Read more
* Foreign reserves hits over $31billion The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, yesterday assured Nigerians that the country would get out of economic recession latest by the end of June this year based on emerging 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
According to a report by Indexmundi only 21 percent of total transactions in the country are done through the PoS device. South Africa stands at the top with 91 percent followed by Ghana 80 percent while Tunisia is third with Read more
A new sensitisation initiative being implemented across states in Nigeria on the cashless policy of the Central Bank of Nigeria (CBN) has kicked off in Ondo State.The scheme is being implemented by the the Electronic Payment Providers Association of Nigeria 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
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 Read more