Business News Top Stories

‘How investors lifted FX market with $31.5bn in 9 months’

Ihesiulo Grace 19 February 2018 0

* Commercial banks begin price war to attract customers There is no gainsaying about the effects of the restored investors’ confidence on the Nigerian foreign exchange market, as Investors and Exporters (I&E) FX window has helped the nation’s rebounded economy with a whopping traded

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Naira steadies against major currencies as FX market is lifted by $210m

Ihesiulo Grace 30 January 2018 0

…NAFEX records $334.3m transactions turnover Despite lifting various segments of the official foreign exchange market by the Central Bank of Nigeria (CBN) on Monday, with fresh injection of $210 million, the Naira, on Tuesday, remained steadied against major foreign currencies, across forex markets and segments. For instance, the local currency, as of close of

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BDCs to boost investors’ confidence, attract liquidity into FX market

Ihesiulo Grace 2 December 2016 0

In a bid to reposition the Nigerian foreign exchange market and attract needed liquidity into the market, Bureaux De Change Operators (BDCs) in the country said they are determined to boost foreign investors’ confidence by upholding ethics and professionalism of the job. They believed with this commitment, persisting hard currency scarcity and continual pressure on […]

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CBN readmits UBA into FX Market

Ihesiulo Grace 24 August 2016 0

The United Bank for Africa (UBA) has said it has been readmitted by the Central Bank of Nigeria into the Foreign Exchange Market following its remittance of all NNPC/NLNG dollar deposits. An emailed statement from UBA reads “we are pleased to inform our valued customers, stakeholders and business partners as well as the general public that the CBN has […]