CBN pumps $23.2bn into forex market in 17 months

The Central Bank of Nigeria (CBN) has injected a total of $23.257 billion into the interbank segment of the foreign exchange (forex) market since it commenced its intervention in February last year. The total amount of the weekly forex sales as of March 26 this year had been put at $18.067 billion The amount has, […]

Nigeria to explore honey exports’ forex earnings, growth potential

The Federal Government has indicated its readiness to tap into foreign exchange (Forex) earnings opportunities of honey exports as part of its sustained fiscal initiatives to boost non-oil sector revenue of the economy. Nigeria will soon join some nations such as Rwanda, Zimbabwe, Benin, Burkina Faso, Uganda, Ethiopia, Cameroon and Ghana for honey exports after […]

CBN intervenes with $210mn in Inter-Bank Forex market

The Central Bank of Nigeria on Tuesday injected the Inter-Bank Foreign Exchange (Forex) market with the sum of $210 million to sustain the market’s liquidity. Data from the apex bank showed that authorized dealers in the Wholesale segment of the market received $100 million while the Small and Medium Enterprises, SMEs, segment got the sum […]

Naira gains, as CBN boosts Forex market with $210m

The naira appreciated against the dollar at the parallel market on Wednesday, exchanging at N359.5 to a dollar, compared to its N360/$ exchange rate at the close of trading on Tuesday. Similarly, the nation’s currency exchanged at N361.06/$, compared to the N361.18/$ it closed the previous day at the Investors’ and Exporters’ (I&E) window, and […]

CBN supplies $210m to Inter-bank segment of Forex market

The Central Bank of Nigeria (CBN) on Tuesday supplied $210 million into the foreign exchange market, to meet customers’ requests in various segments of the market. An analysis of the forex supply based on figures provided on the intervention by the bank showed that authorized dealers in the wholesale segment of the market got $100 […]

BDCs: Bridging forex rate gaps to guarantee market stability

Always readily handy in most critical times of need to foreign exchange (forex) users, the BDC operators are there, come rain or shine, to provide alternative options for buyers and sellers of forex in their search for exchange rate best bargains, as they say in Nigeria, 24/7. More recently, these peripatetic forex merchants have become […]

CBN injects $331.41m into SMIS segment of forex market

As part of its sustained efforts to ensure adequate liquidity in the nation’s foreign exchange market, the Central Bank of Nigeria, CBN, yesterday injected $331.41million into the Retail Secondary Market Intervention Sales’ (SMIS’) segment of the market The intervention came barely 48 hours after the bank sold $210 million in the Inter-Bank segment of the […]

CBN Boosts Inter-Bank Segment of Forex Market With $210mn

The Central Bank of Nigeria (CBN), on Tuesday, supplied $210 million to meet end users’ needs in the Inter-Bank segment of the Foreign Exchange market. Data sourced from the apex bank showed that authorized dealers in the wholesale segment of the market received $100 million compared to the Small and Medium Scale Enterprises’ (SMEs’) allocation […]