CBN raises forex market with $210 million
20 February 2018 |
4:37 am
The Central Bank of Nigeria (CBN) has made available $210 million to meet customers’ requests in various segments of the foreign exchange market.According to figures obtained from the apex bank yesterday in its quest to meet customers’ needs in the various segments of the market....
The Central Bank of Nigeria (CBN) has made available $210 million to meet customers’ requests in various segments of the foreign exchange market.According to figures obtained from the apex bank yesterday in its quest to meet customers’ needs in the various segments of the market, it offered $100 million to authorised dealers in the wholesale segment of the market while the Small and Medium Enterprises (SMEs) segment got $55 million.
Also, customers in need of foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated $55 million.
The CBN’s Acting Director, Corporate Communications Department (CCD), Mr. Isaac Okorafor, reiterated the bank’s commitment to continuous intervention in the inter-bank foreign exchange market in line with its pledge to sustain liquidity in the market and maintain stability.
Okorafor said the CBN would continue to strategically manage the forex with a view to reducing the country’s import bills and halting the depletion of its foreign reserves.
Related
1 hour ago
The Nigeria Customs Service (NCS) is set to investigate the mob action incident, which led to the death of one of its personnel, Customs Assistant ll Auwal Haruna, in Katsina State.
1 hour ago
The Benin Traditional Council (BTC) has petitioned operatives of Edo State Police Command over plan by an individual to install Hausa King in Benin City.
In the letter dated April 18, 2024, the BTC said: “His Royal Highness Alhaji Adamu Isah Adamu
1 day ago
The Nigeria Customs Service (NCS) has warned the public not to fall for a video suggesting it is auctioning vehicles. NCS on Friday refuted the video with scandalous narration announcing a purported auction of vehicles. Customs issued a statement on Friday to alert the general public on the video while warning them not to fall…
1 day ago
Akwa Ibom State Government has indicated readiness to commence aggressive desilting of gutters and flood channels across the state.
1 day ago
The Delta State Police Command has urged Point-of-Sale (POS) operators to be cautious when handling large cash transactions, particularly those involving armed individuals. It noted that customers requesting large cash transactions should be accompanied by a video by the POS operator. Police spokesperson, SP Bright Edafe, stated on Friday in a post on X, noting…
1 day ago
The Corporate Affairs Commission (CAC) has warned newly-registered companies against paying certain fees to obtain tax identification number (TIN) amongst others. The management of CAC gave this warning in a statement on its X handle on Friday. CAC said it noticed email messages sent to directors of newly-registered companies. READ ALSO: CAC targets registration of…
1 day ago
A Federal High Court in Abuja has dismissed money laundering charges against former Attorney-General Mohammed Adoke. Justice Inyang Ekwo ruled on Friday that the Economic and Financial Crimes Commission (EFCC) failed to present a strong enough case (prima facie case) against Adoke. EFCC alleged that Adoke sometime in August 2013 in Abuja accepted a cash…
1 day ago
The Kwara Government has said it will target about 1.5 million children between zero and five years of age, for polio vaccination across the 16 Local Government Area of the State.
1 day ago
Gov. Bassey Otu of Cross River says his administration has provided a matching fund of N100 million to scale up food and nutrition interventions in the state.
1 day ago
Senator Ede Dafinone, the lawmaker representing Delta Central Senatorial District in the Nigerian Senate, has expressed his heartfelt gratitude to President Bola Tinubu, the Chief of Defence Staff and the Chief of Army Staff for their instrumental roles in securing the release of His Royal Majesty, King Clement Ikolo, Urhukpe 1, the monarch of Ewu-Urhobo…
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.