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Foreign Exchange Market
The Central Bank of Nigeria (CBN), in continuation of its intervention in the foreign exchange market, has injected another sum of $210 million to boost sales in the inter-bank segment of the market.
Central Bank of Nigeria (CBN) says local manufacturers and farmers will be sufficiently supported financially and otherwise in 2019
In its first intervention in the foreign exchange market for December, the Central Bank of Nigeria (CBN) yesterday injected the sum of $210 million in the inter-bank foreign exchange market.
The Lagos Chamber of Commerce and Industry (LCCI) has warned that the declining global oil prices pose a risk to stability in the foreign exchange market and may threaten the ongoing negotiation on the new minimum wage.
The Central Bank of Nigeria (CBN) has continued its intervention in the retail Secondary Market Intervention Sales (SMIS) by injecting a total of $331.22 million in that segment of the market, in addition to CNY51.86 million in the spot and short-tenored forwards segment.
The Central Bank of Nigeria (CBN) on Tuesday intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers in that window.
The Naira on Tuesday was sold at N364.22 to the dollar at the investors’ window in Lagos, with a turnover of 147.30 million dollars, the News Agency of Nigeria (NAN) reports.
Within a space of six months this year, the Central Bank of Nigeria (CBN) has so far expended about $20.91 billion to stabilise the naira at the various segments of the foreign exchange (forex) market.
The Central Bank of Nigeria has injected over $10.97bn, into the Forex Market between January and October this year, to defend the Nation’s currency, the Naira, against other major currencies, including the dollar.” (See Punch Newspaper report of November 18th 2018 titled “CBN Defended Naira with $11bn in 10 months”).
The Naira on Tuesday appreciated against the dollar at the parallel market, exchanging at N360 to the dollar, stronger than N361 posted on Monday.
As part of efforts to promote financial inclusion and enhance access to financial services for low income earners and the unbanked, the Central Bank of Nigeria (CBN) is proposing the establishment of Payment Service Banks in rural areas across the country.
The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market.
The Central Bank of Nigeria (CBN), on Friday, provided 317.52 million dollars and 58.40 million Chinese Yuan (CNY) to customers seeking foreign exchange in the agricultural and raw material sector.
The Civil Society Network Against Corruption, which is a coalition of over 150 anti-corruption organization with the aim of constructively combating corruption in Nigeria, has urged the Economic and Financial Crimes Commission to investigate the alleged illegal repatriation of export revenue by communication giant company, MTN, and its collaborators.
Naira on Friday depreciated marginally against the US dollar at the investors’ window, exchanging at N362.64 compared to N362.32 posted on Thursday.
The Central Bank of Nigeria (CBN) on Wednesday imposed a N5.87 billion fine on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank over alleged irregularities.
Serbian coach Kosta Papic has been appointed as the new of coach of the eSwatini national team.
The Argentine signed a new five-year contract with Tottenham in May and has spoken at length about wanting to stay with the club as they prepare to move into their new stadium.
He made this known while speaking in an exclusive interview with newsmen in Abuja, stressing that even a 100 political parties put together would be able to defeat President Muhammadu Buhari in the 2019 general elections.
Kwara State High Court, on Wednesday, recognised the executive committee of the Ishola Balogun-Fulani faction of the All Progressives Congress (APC) in the state.
“It is why I am insisting with my UEFA colleagues in the FIFA Council on the creation of a task force where all the information can be laid out on the table and we can determine with honesty if we need other competitions and if so what format they should take.”
A Peoples Democratic Party (PDP) youths’ organisation in Kogi State under the auspices of Kogi Defenders of Democracy has called on the Senate President Bukola Saraki to swear in now Air Marshall Isaac Alfa (rtd) as the Senator representing Kogi East at the National Assembly or the PDP would lose all elective positions in the forthcoming general election in the state.
The Federal Government is taking a move to address the issue of incessant strikes by Medical Workers; as the Minister of Health, Prof. Isaac Adewole, promised on Friday that the government will consider their requests.
The Zone `B’ of Nigeria Customs Federal Operation Unit, has seized a truck and four cars conveying 720 bags of smuggled rice, with Duty Paid Value of over N22 million.
Yakubu Dogara, House of Representatives Speaker, has urged President Muhammadu Buhari to immediately constitute the North East Development Commission (NEDC) so that the region can be developed and the people there reintegrated.
Super Eagles midfielder Oghenekaro Etebo has officially tied the knot with his fiancee, Ebhota Bethel.