Forex Market: CBN Injects Additional $210m The Central Bank of Nigeria (CBN) on Monday sustained its intervention in the foreign exchange (forex) market by injecting another sum of $210 million into various segments of the interbank market. At Monday’s trading, the CBN offered the sum of...

CBN Pumps Fresh $304.4m Into Forex Market The Central Bank of Nigeria (CBN) at the weekend intervened in the Retail Secondary Market Intervention Sales (SMIS) of the interbank foreign exchange market to the tune of $304.4 million. Figures obtained from the Bank indicated that the sum,...

CBN Injects $498m in Forex Market The Central Bank of Nigeria (CBN) in it's committment to foreign exchange intervention has injected a total of $498 million into the interbank market Figures obtained from the central bank showed that it commenced the week by initially injecting $210...

The Central Bank of Nigeria said it had readmitted to the foreign exchange market banks that were suspended last week for non-remittance of $2.12bn belonging to the Nigerian National Petroleum Corporation. They are FirstBank of Nigeria ($469m); Diamond Bank ($287m); Sterling Bank ($269m); Skye Bank...

The nation’s foreign exchange market recorded $327m worth of transactions on Monday, about six times more than its usual volume, the FMDQ OTC Securities Exchange, told Reuters. This included a single transaction of $270m at N345/dollar by foreign investors buying local currency bonds, the Managing...