Tag Archives: FOREX

Against the rise in cost of forex, the Central Bank of Nigeria has caution Nigerians to resist the urge of succumbing to speculative activities of some players in the foreign exchange market in the face of rising demand for foreign exchange for both goods and services by Nigerians.

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The naira exchanged to the dollar at 580 on Friday, while the Pound Sterling traded for 780 at the parallel market.

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The Central Bank of Nigeria has directed all commercial banks to publish on their websites the names and Bank Verification Numbers of customers who engage in fraudulent and unscrupulous practices to obtain foreign exchange from banks.

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The naira fell further against the dollar at the parallel market on Wednesday after staying steady at 515/$ in recent days.

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The interbank foreign exchange market on Tuesday received the sum of $210 million from the Central Bank of Nigeria (CBN), to meet customers’ requests in various segments of the market. In its determination to meet the customers’ needs in the sundry segments of the market, the CBN offered $100 million to authorised dealers in the wholesale segment of the market, …

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The Central Bank of Nigeria (CBN) has made available the sum of $210million, to meet customers’ requests in various segments of the foreign exchange market. In its quest to meet customers’ needs in the various segments of the market, the CBN offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) …

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The Central Bank of Nigeria (CBN), on Tuesday, May 8, 2018, boosted the inter-bank Foreign Exchange market with another sum of $210 million. The Bank again offered the sum of $100 million to authorized dealers in the wholesale segment of the market. The Small and Medium Scale Enterprises (SMEs) segment received the sum of $55 million while the sum of …

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The Lagos State Government has said it controls over 90 per cent of foreign exchange inflows into the country. The Commissioner for Finance, Mr. Akinyemi Ashade, said this in a presentation made to capital market stakeholders in Lagos titled: ‘Funding Lagos State Government’s Economic Agenda through Debt Capital Market’. He said with over 23 million residents, Lagos was now the …

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The Central Bank of Nigeria on Monday threatened to sanction any Deposit Money Bank found in breach of its earlier directive of March 3, 2017 instructing them to, among other things, open teller points for retail forex transactions and to have electronic display boards in all their branches, showing rates of all trading currencies. This is even as the apex …

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The Naira on Tuesday appreciated against the dollar at the parallel market after a sustained one-week depreciation, the News Agency of Nigeria reports. The Nigerian currency traded between N380 (buying rate), and N390 (selling rate) stronger than N395 recorded on Monday, while the Pound Sterling and the Euro closed at N480 and N415 respectively. At the Bureau De Change window, the …

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