Business

Stock-fish dealers seek access to Forex

Ihesiulo Grace 25 February 2021 0

The Stock-fish Dealers Association on Thursday urged the Federal Government to grant importers of Stock-fish, access to the Foreign Exchange (FOREX). The group made the call in an interview with journalist on the sidelines of a two-day Seafood Seminar in Lagos. Chairman of the association, Mr.

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‘Why forex market is under immense pressure’

Ihesiulo Grace 11 August 2020 0

The collapse of oil price, oil price war, COVID-19 pandemic and the global lockdown have been identified as reasons why Nigeria’s foreign exchange market has been under immense pressure. However, industry experts believe that steps taken so far by the Federal Government and the Central Bank of Nigeria (CBN) to support the economy will bring […]

Business

CBN injects $210m into Forex Market

Ihesiulo Grace 12 February 2020 0

ABUJA – The Central Bank of Nigeria (CBN) has injected the sum of 210 million dollars into the inter-bank Foreign Exchange Market to boost liquidity in the sector. The bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor made this known in a statement in Abuja on Tuesday. Okorafor explained that authorised dealers in the wholesale […]

Business Featured

CBN injects $323.5m, CNY 17.9m into forex market

Ihesiulo Grace 30 November 2019 0

Abuja – The Central Bank of Nigeria (CBN) has injected 323.5million dollars into the retail Secondary Market Intervention Sales (SMIS) for its last intervention for November. The CBN Director, Corporate Communications Department, Mr Isaac Okorafor, made this known in a statement in Abuja. Okorafor said the bank also intervened with CNY 17.9million in the spot […]

Banking Business Economy

CBN reviews e-payments regulation for public, private sectors

Ihesiulo Grace 11 September 2019 0

…Lifts forex market with $210m FX injection Motolani Oseni The Central Bank of Nigeria (CBN) on Tuesday released regulation for electronic payments and collections for public and private sectors in the country. This is just as the apex bank boosted the interbank segment of the Foreign Exchange Market with an injection of $210 million. The […]

Banking Business Money Money

Naira gains as CBN’s interventions hit $13bn in 1yr

Ihesiulo Grace 3 September 2019 0

Temitope Adebayo The Nigeria’s local currency, Naira, at the Investors and Exporters (I&E) FX window has appreciated by 0.06 per cent to close at N362.73 to the US Dolar, even as the volume of the Central Bank of Nigeria’s (CBN’s) interventions in the retail secondary market intervention sales (SMIS) hit the sum of $13 billion […]

Business News

Foreign reserves hit $47.6bn

Ihesiulo Grace 4 June 2018 0

In continuation of its efforts in ensuring foreign exchange liquidity and dollar shortages, the Central Bank of Nigeria (CBN) on Friday, lifted the inter-bank forex market with total sum of $331.41 million, even as the nation’s external reserves rose by 0.27 per cent from a month ago to $47.62 billion as of May 30, CBN […]

Money

Naira to remain stable amidst regular FX injections

Ihesiulo Grace 12 February 2018 0

…As Naira remains flat at official, parallel markets …Gains at I&E FX market, as BDCs close at N361/|$1 Foreign exchange traders are optimistic that the Nigerian currency, Naira, will remain stable during the week ahead, amidst expectations that the forex market and its segments will be continually lifted by the weekly FX intervention(s). The naira, […]

Business

CBN injects $210m into Forex Market to strengthen the naira

Ihesiulo Grace 6 February 2018 0

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

Business

CBN lifts forex market with $210m

Ihesiulo Grace 6 December 2017 0

The Central Bank of Nigeria (CBN) on Tuesday opened the foreign exchange market with the injection of another 210 million dollars to sustain liquidity. The Acting Director, Corporate Communications Department, CBN, Isaac Okorafor in a statement, said 100 million dollars was offered to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment got […]

Business

Naira rebounds as CBN lifted forex market with $210m

Ihesiulo Grace 21 November 2017 0

….FG welcomes latest GDP growth of 1.40% in Q3 The Nigerian currency, Naira, on Monday, rebounded at the official foreign exchange market, just as the Central Bank of Nigeria (CBN) lifted the forex market with total injection of $210 million. In a clear indication of ongoing progress, the Nigerian economy has improved further, according to […]

Money

CBN lifts Forex market with $195m

Ihesiulo Grace 21 August 2017 0

The Central Bank of Nigeria (CBN) on Monday, boosted the Foreign Exchange (FOREX) market by offering a total of $195 million in three segments of the market. In the wholesale segment of the inter-bank forex market, it auctioned $100m; and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments with $50m and […]