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Farooq

April

  • CBN

By Chika Amanze-Nwachuku The Central Bank of Nigeria (CBN) said on Friday that authorised dealers were only able to pick $85.69 million out of the $100 million it offered at Thursday’s FOREX wholesale auction in the inter-bank market. Confirming the development last night, the Acting Director of Corporate Communications at the CBN, Isaac Okorafor, said […]

Oyetunji Abioye with agency report The Central Bank of Nigeria sold N107.64bn ($353m) in Treasury bills on Friday in a move to soak up excess liquidity from the banking system and curb pressure on the naira. The CBN sold N54.42bn in the 167-day Open Market Operations Treasury bills at 18 per cent and N55.22bn paper […]

The Lagos Chamber of Commerce and Industry (LCCI) says the establishment of separate window for investors and exporters in the foreign market is restoring normalcy in the market. Mr Muda Lawal, the Director-General of the Chamber, made the observation in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos. Yusuf said […]

  • CBN

LAGOS, April 28 (Reuters) – Nigeria sold 107.64 billion naira ($353 million) in treasury bills on Friday in a move to soak up excess liquidity from the banking system and curb pressure on the currency, traders said. The central bank sold 54.42 billion naira in the 167-day open market operations (OMO) treasury bills at 18 […]

  • OPEC

Mohammad Barkindo, secretary general of the Organisation of the Petroleum Exporting Countries (OPEC), says that despite the improvement in oil prices, members must not lose sight of their goals. Barkindo, who made this statement on Thursday at a conference in Paris, said that an overhang in global oil inventories was declining but stockpiles still needed […]

  • dollar to naira

Oyetunji Abioye The Bankers Committee of the Central Bank on Thursday declared that there was adequate stock of foreign exchange to sustain the spate of dollar sales to various segments of forex market. The regulator stressed that it was in possession of adequate stock of dollars to ensure that it met the demands of all […]

Oyetunji Abioye The naira depreciated from 388 per United States dollar on Wednesday to 390/dollar on Thursday as the Central Bank of Nigeria continued to intervene in the foreign exchange market to boost the local currency. The local unit has been hovering between 385/dollar and 390/dollar in the last one week. Currency and financial experts […]

The Central Bank of Nigeria yesterday sold $20,000 to each registered Bureau  de Change operators who bided for forex yesterday at a rate of 360 naira per dollar in order to boost liquidity. A Trader, Shehu Usman confirmed to Daily Trust that the CBN fulfilled their promise which brought stability in the forex market. The […]

  • CBN

Nume Ekeghe The Central Bank of Nigeria has restated that the Nigerian economy would come out of the recession in the second quarter of 2017. The Director, Banking Supervision Department, CBN, Mr. Ahmed Abdullahi, gave the assurance at a media briefing shortly after the bankers committee meeting in Lagos thursday. He said the pumping of […]

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    Alex Ikechukwu
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ABUJA, April 27 (Reuters) – Nigerian President Muhammadu Buhari’s doctors have advised him to take things slowly as he recovers from an undisclosed illness, and there is no need to worry about his health, his spokesman said on Thursday. Buhari did not attend a cabinet meeting on Wednesday, choosing to rest and work from home. […]