business
CBN uplifts FX market with $308.5m

The Central Bank of Nigeria (CBN) yesterday pumped $308.5million into the market. It will be recalled that the apex bank opened the week with a boost of $195million ahead of the Monetary Policy Committee (MPC) decisions. A total sum of $195million was offered in three segments of the market.
In the wholesale Secondary Market Intervention Sales (SMIS), of the inter-bank Foreign Exchange market, it auctioned $100million and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with the sum of $50 million and $45million respectively.
This brings the total intervention for the week to a sum of $503.5million. The CBN Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, who gave the figures in Abuja yesterday, announced that the latest intervention of the CBN in the retail segment was part of the regular interventions of the apex bank, in line with its commitment to sustain liquidity to meet genuine requests in the market.
While warning against speculations in the market, Okorafor said the CBN had put necessary checks in place to guard against the activities of speculators.
He stressed the determination of the bank to continue its forex intervention. He encouraged genuine users of foreign exchange to approach their banks, as the banks had enough forex to meet their demand.
-
news5 years ago
Osun Government presents 2015, 2016 audited accounts…sets record as the first state in Nigeria to publicly declare accounts
-
crime3 years ago
Arotile’s ex-classmate had no driver’s licence, report reveals
-
lifestyle6 years ago
Amazing Tips for an Outstanding Makeup
-
news2 years ago
2023: Kola Abiola Set To Declare For Presidency
-
entertainment4 years ago
sanwo-Olu honours sacked chaplain after Ambode’s wife saga
-
entertainment4 years ago
See how Women now use toothpaste to tighten vagina
-
lifestyle3 years ago
US Church ‘refunds members three years tithes’ as help during COVID-19
-
business3 years ago
#EndSARS: Access Bank announces N50 billion interest-free facility for businesses