Tag: Forex
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Forex intervention: CBN sells $25m to investors, exporters
The Central Bank of Nigeria (CBN) on Tuesday commenced interventions in the new Investors and Exporters’ FX Window with the sale of 25million dollars to customers. The apex bank’s spokesman, Mr Isaac Okorafor, in a statement in Abuja, said the window was established to boost liquidity in the forex market and ensure timely execution and…
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Forex: Again, CBN releases additional $100m to stabilize Naira
…as Naira exchanges for N390, N306 t0 $1 at parrallel and interbank market respectively The Central Bank of Nigeria, CBN has pumped a total $380million within two days into the Foreign Exchange Market. TheNewsGuru.com reports that the continuous release of Dollar into the foreign exchange market by the apex bank has further strengthen the Naira…
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Forex: CBN issues new form for SMEs to facilitate easy documentation
In order further simplify accessibility to foreign exchange by the Small and Medium Scale Enterprises (SMEs) the Central Bank of Nigeria (CBN) has introduced a newly designed form to facilitate minimal documentation. Confirming this new development on Monday, the apex Bank spokesman, Mr Isaac Okorafor said the motive behind the new form is “to provide…
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Forex: CBN releases additional $250m for agriculture, airlines, others
The Central Bank of Nigeria (CBN) on Wednesday released another 250 million dollars on 7 to 30 day forwards for agriculture, airline, petroleum products and raw materials. The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor, said in a statement that the bank also called for bid for 100 million dollars wholesale spot for traveling…
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CBN to sustain forex intervention, releases fresh $418m
The Central Bank of Nigeria on Sunday vowed to sustain its intervention in the foreign exchange market to ensure liquidity in that segment of the financial sector. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, stated this in a statement issued in Abuja. He said as part of its determination to make forex available…
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Forex: Again, CBN auctions $418m to stabilize naira
The Central Bank of Nigeria (CBN) has auctioned $418 million at a marginal rate of N310 to a dollar, to airlines, agriculture, petroleum and raw materials sub sectors. The CBN acting Director, Corporate Communications, Mr Isaac Okorafor said in Abuja that the $480m offered last week was in addition to the $350 million sold as…
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CBN injects fresh $240m to boost forex liquidity as Naira exchanges for N388/1$
The Central Bank of Nigeria (CBN) on Monday continued boosting the country’s foreign exchange liquidity with 240 million dollars, part of which 150 million dollars will go to dealers in the interbank wholesale window. Those who stand to gain from the sales through the interbank wholesale auction window include manufacturers, importers of aggro-machineries, plants and…
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We’ll release more forex to further weaken Dollar against Naira – CBN
The Central Bank of Nigeria (CBN) on Sunday reiterated its determination to sustain the provision of foreign exchange (forex) with a view to ensuring liquidity in the market and enhance accessibility and affordability for genuine end users. The apex bank’s acting Director, Corporate Communications; Mr Isaac Okorafor in a statement on Sunday said the bank…
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Forex: CBN injects $370m into market
The Central Bank of Nigeria (CBN) yesterday carried out wholesale interventions in the interbank foreign exchange market by providing 370.9 million dollars to 23 banks to meet the visible and invisible requests by customers. Its Acting Director of Corporate Communications, Mr Isaac Okorafor, said the bank’s intermediation in the market was aimed at easing the…
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We don’t deal directly with bank customers on forex transactions – CBN
The Central Bank of Nigeria, CBN has said contrary to public opinion, it does not deal directly with any bank customer on forex exchange transactions. The apex bank noted that forex transactions are strictly restricted to Deposit Money Banks (DMBs) and their respective customers. This was contained in a statement released and signed by the…