The Central Bank of Nigeria (CBN) has released a list of items that can source foreign exchange (forex) from the market. The list, sent to all authorised dealers, Nigeria Customs and the public, has 36 categories. It is endorsed by Director, Trade and Exchange, W.D Gotring. He...

The Central Bank of Nigeria (CBN) has on Monday injected $457.3 million into the foreign exchange market. The development forced the parallel market rate to retreat further to N386 per dollar, against N388 per dollar recorded at the close of transactions last week. This came on...

The International Monetary Fund (IMF) has released its World Economic Outlook (WEO) in which it advised Nigeria to adopt flexible foreign exchange (FOREX) regime to restore values of revenues and the naira. Speaking at a media briefing to unveil the report at the ongoing IMF/World...

The nation’s overnight lending rate has risen by 2.5 percentage points after the Central Bank of Nigeria debited bank accounts for debt purchases, draining liquidity in the money market. The overnight lending rate increased to 14.5 per cent on Friday, up from 12 per cent...

Forex: Dealers subscribe fully to CBN $150m wholesale offer... …CBN sells $10,000 to BDCs The Central Bank of Nigeria has announced interventions in the retail auction window for forex sales to the airlines, manufacturing, agricultural and petroleum sectors. The Spokesperson of CBN, Isaac Okorafor said that that banks...

The Central Bank of Nigeria (CBN) resumes this week’s foreign exchange market intervention today with a disbursement of $240 million. Of the sum, $90 million is for invisibles – business/personal travel allowances, medical, school fees, among others, while $150 million goes to interbank wholesale auction...