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FOREX

Emirates Airlines Returns To Abuja Route After One Year

Emirates Airlines, on Friday returned to Abuja route with 95 passengers and 17 crew members on board its Boeing 777-300 from Dubai after it has closed the route for over a year. The News Agency of Nigeria (NAN) reports that the aircraft landed at the Nnamdi Azikiwe International Airport, Abuja at 3:00 pm with the usual flight showers to celebrate its return. The airline had on Nov. 3 announced its decision to reinstate its second daily service to Lagos and resume operations to Abuja with four weekly flights from Dec.…

CBN Strengthens Forex Market With $210m

The Central Bank of Nigeria (CBN) on Tuesday, released the sum of $210 million into different segments of the inter-bank Foreign Exchange Market. Isaac Okorafor, the CBN’s Acting Director in charge of Corporate Communications, who confirmed the figures said the interventions were in the Wholesale, Small and Medium Enterprises (SMEs) and invisibles windows. According to Okorafor, the Bank offered the total sum of $100million to the wholesale segment, while the SMEs segment received the sum of $55 million. The sum of…

CBN Strengthens FOREX Market With $210m

The Central Bank of Nigeria (CBN) on Monday released the sum of $210 million into different segments of the inter-bank Foreign Exchange Market. The development, which comes hours after the CBN commenced its last Monetary Policy Committee (MPC) meeting for 2017, is part of the apex Bank’s weekly intervention to sustain liquidity in the Foreign Exchange Market. Isaac Okorafor, the CBN’s Acting Director in charge of Corporate Communications, who confirmed the figures, said the interventions were in the Wholesale, Small…

Naira Appreciates To N359/$

The Naira on Thursday appreciated to N359.56 in the Investor and Exporter (I&E) Foreign Exchange, forex. The indicative exchange rate for the I & E Forex Window, known as Nigerian Autonomous Foreign Exchange, NAFEX, appreciated to N359.56 per dollar. The naira appreciated from Wednesday’s market rate which stood at N360.70 per dollar. This indicates an appreciation of N1.14 kobo in the value of the local currency. Meanwhile, the volume of dollars traded in the window, yesterday, was $191.07 million from…

CBN Releases Fresh $195m Into Forex Market

The Nigerian inter-bank Foreign Exchange (Forex) market has continued to enjoy unwavering interventions from the Central Bank of Nigeria (CBN). This comes as the CBN has just released another $195 million into the inter-bank Forex market. The Bank, in a statement on Monday by its Acting Director, Corporate Communications Department, Isaac Okorafor, gave a breakdown of its latest intervention as; ** Wholesale segment was offered $100 million. ** The Small and Medium Enterprises (SMEs) segment received $50 million.…