FOREX MARKETS

      The Nigerian Inter-bank foreign exchange market received another boost of 210 million dollars from the Central Bank of Nigeria (CBN) after transactions on Tuesday, July 23. Isaac Mr Okorafor, the CBN Director, Corporate Communications Department, said this in a statement in Abuja on Wednesday. Okorafor said that...

  The Association of Bureaux De Change Operators of Nigeria (ABCON) has called for elimination of fuel and foreign exchange subsidies in order to address structural defects in the economy. The association made this call in its quarterly economic review report for the second quarter of the year (Q2’19), stressing...

  The Naira on Monday traded at N359.3 to the dollar at the parallel market in Lagos. The Pound Sterling and the Euro closed at N463 and N407 respectively. At the Bureau De Change (BDC) segment, the naira exchanged at N360 to the dollar, while the Pound Sterling and the...

The Association of Bureaux De Change Operators of Nigeria (ABCON) on Wednesday advised the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to sustain all strategies used to stabilise the foreign exchange market. The APCON President, Alhaji Aminu Gwadabe, gave the advice in an interview with the News...

  The Central Bank of Nigeria (CBN) has summoned all authorized currency dealers for a meeting to discuss development in the foreign exchange market. The invitation was contained in a circular released and signed by the bank’s Director, Trade and Exchange, Mr Ahmed Umar in Abuja on Friday. It explained...

  The Central Bank of Nigeria (CBN) on Tuesday announced the restrictions of sale of foreign exchange to importers of textiles and other clothing materials. The CBN Governor, Mr Godwin Emefiele, said this in Abuja during a meeting with stakeholders in the cotton value chain. He said the restriction which...

The Central Bank of Nigeria (CBN) on Monday said there was no room for arbitrage opportunities in the foreign exchange(forex) market in the country. The bank also assured Nigerians that it would continue to act in the best interest of the country. In addition, the apex bank reiterated that it...

  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 CBN also made interventions of $55 million each in the Small and Medium Enterprises (SMEs) and Invisibles segments to...

  The Naira on Friday remained stable at the parallel market in Lagos, exchanging at N360 to the dollar, the News Agency of Nigeria reports. The Nigerian currency had traded at same rate for the past two days, while the Pound Sterling and the Euro closed at N480 and N421...

The Central Bank of Nigeria (CBN) has boosted the foreign exchange market with $210 million to meet customers’ requests in various segments Acting Director, Corporate Communications of the apex bank, Mr. Isaac Okorafor said this in a statement on Wednesday. According to him, the bank, in its desire to meet...