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CBN raises intervention at interbank market to $6m – Today

A day after fine-tuning the foreign exchange policy, the Central Bank of Nigeria (CBN) made good its pledge to increase daily intervention at the interbank market, raising it from $1.5 million to $6 million. However, the official exchange rate remained at N305.25 per dollar, although the CBN’s intervention was auctioned at N304.75 per dollar. The […]

Nigeria revenues for state and local govts up 16 pct in January – Reuters

LAGOS Feb 21 (Reuters) – Nigeria’s distributable government revenues rose in January by 16 percent to 465.19 billion naira ($1.5 billion) as it brought in more oil royalties, the accountant general’s office said in a statement on Tuesday. Distributable revenue is government income that is shared at various levels of state including the federal government, […]

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Dollar to Naira Rate Black Market February 22 2017

Dollar to Naira Rate Black Market February 22 2017. Today’s Naira Black Market Exchange Rates. Dollar to Naira. Pounds to Naira. Euros to Naira. These are the prevalent rates for Lagos. Actual rates may vary slightly based on vendor. Rates are updated during the day as they change. NAIRA (N) USD ($) EURO (€) GBP […]

24 hours after new policy, CBN injects $371m into forex market – The Cable

About 24 hours after The Central Bank of Nigeria (CBN) announced fresh policy actions in the foreign exchange market, the bank has pumped $370.9 million into the forex market. On Tuesday, the apex bank carried out wholesale interventions in the interbank forex market by trading a total of $370,810,810.79 to 23 banks “to meet the […]

Naira hits 520/dollar, forex retailers examine CBN action – Punch

Oyetunji Abioye The naira tumbled to 520 against the United States dollar at the parallel market on Monday as scarcity of the greenback continued to keep the exchange rate in a free fall mode. The naira had closed at 516/dollar on Friday, after hitting 510/dollar and 507/dollar last Thursday and Tuesday, respectively. Experts said demand […]