MONEY MARKET

The Federal Government will sell $100 million at a special foreign exchange auction on Wednesday, the bank said as the local currency held steady in all segments of the foreign exchange market. In a notice to commercial lenders, the regulator said the dollar auction would be for spot and forward...

Nigeria's interbank rate eased to around eight percent on Friday from 15 per cent last week after the Central bank of Nigeria (CBN) repaid 152.6 billion naira ($500.57 million) in matured debt and paid refunds to banks for their forex cash provisions. Traders said they expect a further drop in...

The Central Bank of Nigeria (CBN) has explained why it would not succumb to pressure to further devalue or float the Naira. CBN Acting Director, Public Communications, Mr. Isaac Okora­for gave the explanations in Umuahia, Abia State during a sensitization forum on CBN intervention programmes for young entrepreneurs, farmers, traders,...

Following its $800 million dollars intervention in the inter-bank Foreign Exchange (FOREX) Market last week, the Central Bank of Nigeria (CBN), on Monday, injected 195 million dollars into the market to meet the requests of customers in the various segments of the market. The acting Director, Corporate Communications, Mr. Isaac...

Central Bank of Nigeria (CBN) plans to sell $100 million at a special foreign currency auction on Monday, the bank said as part of its efforts to improve dollar liquidity and reduce pressure on the local naira currency. In a notice to commercial lenders, the regulator said the dollar auction...

Central Bank of Nigeria (CBN) on Friday held two auctions to sell treasury bills worth 286.8 billion naira ($939.56 million), traders said, as the regulator moved to tighten liquidity and curb speculation on the local currency. Traders said the debt sale reduced the level of naira liquidity in the money...

The Central Bank of Nigeria, CBN on Thursday said it would hold a special Open Market Operation (OMO) operation to further check inflation in the economy as a result of pressures on the value of the Naira. The operation would involve mopping up of about N200.322 billion from the Nigerian...

Nigeria's naira could strengthen against the dollar in the coming week as offshore investors pile into local stocks, while Kenya's shilling is expected to be stable. Nigeria The Nigeria naira could strengthen against the dollar in the coming days as more offshore investors buy up local stocks after MSCI increased...

The Central Bank of Nigeria (CBN) has intervened in the inter-bank foreign exchange market by boosting the market with $413.5 million. This action of the apex money market regulator further underscores its resolve to guarantee liquidity in the market as well as shore up the international value of the naira....

The Association of Bureau de Change Operators of Nigeria (ABCON) at the weekend appealed to the Central Bank of Nigeria (CBN) to review dollar buying rate for BDCs downwards from N360 to N350/$1. Currently, the parallel market and BDCs rates are trading around N360 to the dollar. In a statement,...