CBN threatened to sanction any Deposit Money Bank found in breach of directive

11 SHARESThe Central Bank of Nigeria on Monday threatened to sanction any Deposit Money Bank found in breach of its earlier directive of March 3, 2017 instructing them to, among other things, open teller points for retail forex transactions and to have electronic display boards in all their branches, showing rates of all trading currencies. Read More

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FG approved N20bn for the settlement of the 2017 export claims.

5 SHARESThe Executive Director/Chief Executive Officer, Nigeria Export Promotion Council, Olusegun Awolowo, on Thursday in Kano, stated that the Federal Government had approved N20bn for the settlement of the 2017 export claims. At a stakeholders’ forum on the revised guidelines on the Export Expansion Grant, Awolowo stated that the review of the scheme by the Read More

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Despite Nigeria exiting recession equities market closed in the red on Tuesday

4 SHARESDespite Nigeria exiting recession on Tuesday, the equities market closed in the red, shedding N35bn. On the release of the second quarter Gross Domestic Product data, the market opened this week’s trading with a loss as Seplat Petroleum Production Company Plc, Julius Berger Nigeria Plc, Lafarge Africa Plc, Cadbury Nigeria Plc and Total Nigeria Read More

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Central Bank of Nigeria on Tuesday injected $250m into foreign exchange market

8 SHARESThe Central Bank of Nigeria on Tuesday injected $250m into the various segments of the inter-bank foreign exchange market, in order to lift the naira against other major currencies. Figures obtained from the CBN indicated that the Retail Secondary Market Intervention Sales segment of the market received the highest intervention with a total of Read More

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CBN intervened in foreign exchange market with $250m

6 SHARESThe Central Bank of Nigeria has again intervened in the inter-bank foreign exchange market to the tune of $250m. According to the News Agency Nigeria report, the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, said the apex bank also sold $100m and uplifted the Small and Medium Enterprises and invisible segments, with $85m and Read More

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