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forex market

CBN Boosts Forex Market With $205 Million

The interbank segment of the Foreign Exchange Market on Friday received a boost of $205 million from Nigeria’s Central Bank, CBN. The boost follows the CBN’s earlier intervention of the sum of $271.8million and CNY41.1million into the Retail Secondary Market Intervention Sales (SMIS) segment on Friday. This was disclosed by CBN’s Director, Corporate Communications Department, Mr. Isaac Okorafor after the conclusion of sales in the foreign market on Tuesday, May 7, 2019. Okorafor expressed satisfaction with the…

CBN Injects Fresh $210m Into Forex Market

Various segments of Nigeria’s inter-bank foreign exchange market received a combined sum of $210 million from the Central Bank of Nigeria (CBN) on Tuesday. This was according to CBN’s Director of Corporate Communications, Isaac Okorafor, who stated this in a statement today. According to Okorafor, “the CBN injected the sum of $100 million in the wholesale segment of the market in addition to the sum of $55 million each in the Small and Medium Enterprises (SMEs) and invisibles sectors. The CBN Communications Director…

CBN Stops Forex For Fertiliser Importation

The Central Bank of Nigeria has included fertiliser on the list of 41 import items classified as ‘not valid for foreign exchange’ in the Nigerian forex market. The CBN disclosed this on Monday in a circular on ‘Inclusion of some imported goods and services on the list of items not valid for forex in the Nigerian forex market.’ It added that it would ensure that transaction (Form M) on fertiliser “for which payments are outstanding are settled at the appropriate settlement dates.” In another circular on ‘Foreign…

CBN Gives Forex Market Fresh $210m

The Central Bank of Nigeria (CBN), on Tuesday, released the sum of $210 million in various segments of the inter-bank foreign exchange market. The Bank’s Acting Director, Corporate Communications Department (CCD), Mr. Isaac Okorafor, who confirmed the figures, said the latest intervention is to ensure that forex is available for customers’ in various segments of the market. According to the figures obtained from the CBN, the apex Bank offered $100million to authorized dealers in the wholesale segment of the market,…

Forex: CBN Strengthens Market With $210m

In its quest to meet customers’ needs in the various segments of the inter-bank foreign exchange market, the Central Bank of Nigeria (CBN) has made available the sum of $210million. The CBN’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, who confirmed the figures, said the latest intervention in line with the apex Bank’s pledge to sustain liquidity in the market and maintain stability. A breakdown of the figures indicates that the CBN offered $100million to authorized dealers in the…

Forex Market Gets $210m CBN Boost

The Central Bank of Nigeria (CBN), on Tuesday, continued its weekly intervention in different segments of the inter-bank Foreign Exchange market, injecting the sum of $210 million. The CBN’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, who confirmed the figures, said the latest intervention is to meet customers’ requests in various segments of the foreign exchange market. A breakdown of the Bank’s latest round of intervention indicates that the CBN offered the sum of $100 million to…

CBN Lifts Forex Market With $210m

The Central Bank of Nigeria (CBN), on Tuesday, continued its weekly intervention in different segments of the inter-bank Foreign Exchange market with the sum of $210 million. The CBN’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, who confirmed the figures, said the latest intervention is to meet customers’ requests in various segments of the foreign exchange market. A breakdown of the Bank’s latest round of intervention indicates that the CBN offered the sum of $100 million to dealers in…

CBN Injects Fresh $210m Into Forex Market

Ifeanyi Omokwe In continuation of its weekly intervention, the Central Bank of Nigeria (CBN) has 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 on Wednesday, said the latest intervention was part of the Bank’s quest to meet customers’ needs in the various segments of the market. A breakdown of the Bank’s latest round of intervention indicates that the CBN…

CBN Boosts Forex Market With Fresh $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 segments of the market. 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.…

CBN Injects Fresh $285.7m Into FOREX Market

The Central Bank of Nigeria (CBN) on Friday, injected a fresh $285,759,449.10 into four different sectors of the Inter-Bank Foreign Exchange Market. The sectors according to the CBN are agricultural, airlines, petroleum and raw materials. The apex Bank explained that the latest forex allocations followed put forward by their respective banks, to meet requests in four sectors of the economy. Confirming the figures, the Acting Director, Corporate Communications Department, CBN, Isaac Okorafor, said the releases…