Forex intervention: CBN injects $325.5m into retail market
The Central Bank of Nigeria (CBN) has injected 325.5million dollars in the Retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and short-tenured forwards segment of the inter-bank foreign market.
How I&E forex window buoyed naira stability with $50bn inflows
By Babajide Komolafe Foreign exchange inflows through the Investors and Exporters (I&E) foreign exchange window hit the $50 billion at the end of February. This huge inflow was instrumental to the stability of the naira against the dollar since 2017. The Investors and Exporters (I&E) forex window allows investors and exporters to purchase and sell […]
Breaking: CBN restricts sale of forex to importers of textiles
The Central Bank of Nigeria, CBN, has directed commercial banks and Bureau the Change operators to, immediately, stop sale of forex to import textiles and clothing materials in the country.
Hajj 2018: Black market operators besiege Nigerian pilgrims for Forex
Foreign exchange black market operators are making brisk business from Nigerian pilgrims in Madinah, since the arrival of the first batch from Kogi for this year’s Hajj in the Holy land.
Improved Forex supply deflates banks’ e-payment income
BANKS’ income from electronic payment (e-payment) businesses fell by 11.6 percent in 2017, prompted by the improved foreign exchange supply for invisibles by the Central Bank of Nigeria (CBN) in 2017.
N1m forex fraud : Man, 37, arraigned in Lagos
For allegedly defrauding a woman of N1.05 million on the pretext of foreign exchange trading, a 37-year-old, Emmanuel Okeke, was on Wednesday brought before an Ebute Meta Chief Magistrates’ Court, Lagos.
