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Farooq

Posts Tagged "central bank of nigeria"

HomePosts Tagged "central bank of nigeria"

ABUJA, Feb 7 (Reuters) – Nigeria plans to redeem 762.5 billion naira ($2.5 billion) worth of treasury bills from the proceeds of a planned $2.5 billion Eurobond, to lower borrowing costs for the government, Finance Minister Kemi Adeosun said on Wednesday. The West African country expects to save 64 billion naira each year after it […]

The Central Bank of Nigeria (CBN) on Monday injected the sum of $55m into the economy for Nigerians requiring foreign exchange (Forex) for Business/Personal Travel Allowances, tuition, and medical fees. The amount is part of $210m pumped into various segments of the foreign exchange market by the apex bank. A breakdown of the amount, released […]

Henry Boyo “As I speak to you, our external reserves stand above $31bn and that provides us with enough firepower to be able to defend the naira (N305=$1)” – CBN Governor, Godwin Emefiele, April 25, 2017 However, fast forward to January 2018 with reserves above $40bn, i.e. over 30 per cent increase since April 2017, […]

  • CBN

The Central Bank of Nigeria (CBN) has boosted the inter-bank foreign exchange market with $210 million. According to a statement on Monday by the Bank’s Acting Director, Corporate Communications, Mr Isaac Okorafor, this was to meet customers’ requests in various segments of the market. He said the fund would also ensure that legitimate demands for […]

If rising reserves, oil prices in the international market and foreign exchange (forex) market liquidity are sustained, the Naira may be strengthened against other currencies from now till a greater part of 2018. The development may spell doom for currency speculators and hoarders, including politicians who may have reserved some foreign currencies for 2019 electioneering […]

  • CBN

Nigeria’s central bank repaid a total of 340 billion naira ($1.1 bln) worth of treasury bills on Thursday instead of rolling them over, in a move to lower government borrowing costs, traders said. They included 131.4 billion naira worth of treasury bills issued by the Debt Management Office (DMO), while the balance was in open […]

LAGOS, Dec 13 (Reuters) – Nigeria’s foreign exchange market saw transactions worth $1.34 million at its interbank window on Wednesday at a rate of 314.50 naira per dollar, as commercial banks traded the local currency at below the central bank rate. The central bank has used a rate of around 306 to supply dollars to […]

By Chijioke Nelson The Central Bank of Nigeria (CBN) ended foreign exchange (forex) market transactions for the week with $303.9 million, as it earlier in the week, sold $210 million to sustain liquidity. This is the second week in succession that the apex bank exceeded a $500 million intervention in the past five weeks, running […]

The Central Bank of Nigeria, CBN has warned Nigerians against abusing the naira notes, especially at events. The apex bank said anyone caught abusing the currency will pay a fine of N50, 000 or risk six months in jail if convicted. This was disclosed on Friday by an official of the Currency Operation Department of […]

By Obinna Chima The Central Bank of Nigeria (CBN) on Monday sold the dollars at N307 to the dollar for the first time on the official interbank market, according to the FMDQ OTC. Traders said the development could signal a gradual move to merge its multiple exchange rates. Nigeria’s convoluted exchange rate system has been […]