CBN raises FOREX supply to BDCs…offers $100m for forwards In line with its pledge to sustain liquidity in the foreign exchange market, the Central Bank of Nigeria CBN) will from Monday, April 3, 2017 commence twice weekly FOREX sales to licensed Bureaux de Change (BDCs)...

The Economic and Financial Crimes Commission has arrested two directors of the Central Bank of Nigeria for alleged forex manipulation and economic sabotage. Impeccable sources at the EFCC told one of our correspondents on Wednesday that the directors were still in custody as of press...

Forex: CBN slashes BDC rate to N360 …$100m offer fully subscribed Barely 24 hours after its directive to Deposit Money Banks (DMBs) in the country to sell foreign exchange obtained from it to retail end-users at not more than N360/$1 for invisibles, the Central Bank of...

Following Thursday’s FOREX wholesale auction, the Central Bank of Nigeria (CBN) has concluded transactions on the sum of $100 million earlier offered at the interbank market to meet customers’ demands, out of which authorized dealers were only able to pick $81.347 million after an...

Naira Now 380 Dollar, Pound N450 in BlackMarket The values of foreign currencies have continued to diminish against the Naira as the Nigerian currency was traded at N380 to the US Dollar and N450 to the Pound Sterling at the parallel market on Friday in...

The improved foreign exchange (FX) supply by the Central Bank of Nigeria (CBN,) through stepped-up special intervention auctions, has given rise to greater optimism over the likely trajectory of FX policy, as well as the inflation outlook in Nigeria, a report has stated. Standard Chartered...