MONEY MARKET

Nigeria's foreign exchange reserves had risen to an almost three-month high of $30.74 billion by July 27, latest Central Bank of Nigeria (CBN) data showed on Monday. Nigeria's dollar reserves grew 1.62 per cent from a month earlier. The bank did not provide a reason for the increase. Reserves have...

Central Bank of Nigeria said on Wednesday said that the Federal Government of Nigeria plans to issue 229.14 billion naira ($728.59m) in treasury bills at an auction on Aug. 2, the. The CBN said it will issue 29.14 billion naira in three-month bills, 80 billion in six-month paper and 120...

The Central Bank of Nigeria (CBN) on Monday injected another $195 million dollars into the Foreign Exchange (Forex) Market. The CBN Acting Director of Corporate Communications, Mr Isaac Okorafor, said this in a statement in Abuja. According to Okorafor, the bank offered 100 million dollars of the sum to the...

A Nigerian court has ordered seven local banks to transfer a combined $793 million to the government immediately, and a government lawyer said on Thursday the lenders had withheld money collected on behalf of the state. Commercial banks in Nigeria collect grants, taxes, fees and tariffs on behalf of the...

Nigeria's Wema Bank plans to raise equity by 2018 to bolster its capital ratio and cut its operating cost as its new digital strategy gains traction, a senior executive said on Thursday. The mid-tier lender said it cut loan growth this year to between one to two per cent of...

Nigeria's interbank lending rate rose to 12 percent on Friday from eight percent after bond and treasury bill purchases paid for by lenders drained banking system liquidity, traders said. The Central Bank of Nigeria (CBN) sold 25 billion naira ($82 million) worth of 363-day treasury bills on Friday, while lenders...

Nigeria plans to issue 204.95 billion naira ($651.7 mln) in treasury bills at an auction on July 19, the Central Bank of Nigeria (CBN) said. The bank aims to raise 36.78 billion naira in three-month bills, 39.17 billion naira in six-month paper and 129 billion naira in one-year bills. Nigeria's...

The Central Bank of Nigeria (CBN) has injected $142.5 million into the inter-bank foreign exchange market, days after intervening in the retail segment of the market with $254.3 million. The spokesperson of the apex bank, Mr Isaac Okorafor, in a statement, said on Monday that CBN would continue to carry...

The Naira on Friday suffered marginal loss against the dollar at the parallel market in spite of CBN’s intervention at the foreign exchange market. Reports say that the Naira lost one point to exchange at N366, weaker than N365 traded on Thursday, while the pound sterling and the Euro closed...

The Central Bank of Nigeria sold N31.94bn ($104.76m) in Treasury bills on Friday in a bid to tighten liquidity in the money market while overnight lending rate fell. Traders said the bank sold N31.52bn of 349-day Treasury bill at 18.59 per cent and N440m of 160-day Treasury bill at 17.98...