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Farooq

Posts Tagged "cbn"

HomePosts Tagged "cbn"

First Nigerian businesses were hit by a dollar shortage. Now there aren’t enough naira. A central bank requirement that companies back forward dollar purchases with naira is drying up supplies, helping to underpin a 2.1 percent gain since the local currency fell to a record low against the greenback on Aug. 9. At the same […]

LAGOS, Sept 20 (Reuters) – Nigeria’s central bank on Wednesday raised more money from an auction of treasury bills than originally planned after it received subscriptions for almost four times the amount of debt initially on offer, traders said. The bank raised 215.88 billion naira ($686 million) at the auction, 75 billion naira more than […]

The Central Bank of Nigeria (CBN) has given a four-week ultimatum to deposit money banks which have not complied with its directive to open teller points for retail forex transactions. In a statement sent to TheCable on Monday, the apex bank said banks that fail to comply within four weeks would be punished. According to […]

Oyetunji Abioye The naira has weakened further to 369 per United States dollar on the back of waning supply of the greenback in the foreign exchange market. Although the external reserves have reportedly hit $33bn, the Central Bank of Nigeria appears to be reducing its intervention, both in frequency and amount, in the foreign exchange […]

The naira on Monday dropped further to 370 per United States dollar in the parallel foreign exchange market. This indicates that Nigerian currency depreciated against the dollar by N2 over the weekend. The naira had exchanged at 368 to the dollar last Friday Meanwhile, Central Bank of Nigeria (CBN) has threatened to sanction any Deposit […]

  • CBN

Central Bank of Nigeria (CBN) has revealed how it arrested the free fall of the naira when it appeared that all was lost early in 2017 with the currency dropping to as low as 500 units to the United States dollar in February. Director, Monetary Policy Department of the bank, Mr Moses Tule, said at […]

Oyetunji Abioye Weakening exchange rate, rising non-performing loans in the banking industry and other key economic issues are expected to top the agenda as the Monetary Policy Committee of the Central Bank of Nigeria begins its two-day meeting today (Monday). According to economic and financial experts, the meeting will see the 11-member MPC deliberate on […]

Chika Amanze-Nwachuku, Ndubuisi Francis and Obinna Chima in Awka The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has assured Nigerians that the central bank would continue to explore measures that would see that interest rates are supportive of domestic production. According to him, the Bank would continue to fine tune measures to ensure […]

The Naira on Wednesday remained stable at the parallel market, exchanging between N365 and N367 to the dollar. The Pound Sterling and the Euro traded at N476 and N436, respectively. At the Bureau De Change (BDC) window, the Naira was sold at N363 to the dollar, while the Pound Sterling and the Euro closed at N476 […]

LAGOS, Sept 13 (Reuters) – Nigeria plans to sell 917.14 billion naira worth of treasury bills between Sept. 14 and Nov. 30, a central bank debt calendar for the fourth quarter showed on Wednesday. The bank aims to auction 209.85 billion naira in 91-day bills, 197.89 billion in 182-day and 509.39 billion in 364-day debt. […]