The Central Bank of Nigeria (CBN) has gone tough to arrest sharp practices in the Foreign Exchange (forex) market especially in the parallel section.   To demonstrate its commitment to increasing liquidity in the foreign exchange market, the apex bank, within two weeks, supplied a total...

... CBN Pumps Additional $80m for PTA, Fees, Medicals & $100m Through Banks for Wholesale Forwards Market In keeping with its determination to increase liquidity in the foreign exchange market, the Central Bank of Nigeria (CBN) on Monday released another $100m into the wholesale forwards...

The naira recorded further gain against the United States dollar on the parallel market, reversing part of the loss it had recorded in recent days. Specifically, the naira rose to 505/dollar on Wednesday, up from 512/dollar on Tuesday, as the Central Bank of Nigeria started...

There is no truth whatsoever in speculations that the naira has been devalued or that a devaluation is imminent, the Central Bank of Nigeria (CBN) has said. The bank's Acting Director of Corporate Communications Department, Isaac Okorafor, described the speculations as the handiwork of those...

Central Bank of Nigeria, CBN, has said that the on-going investigation of some financial transactions in some banks by law enforcement authorities are aimed at strengthening the financial sector and the economy. The apex bank, in a statement signed by Acting Director, Corporate Communications, Isaac...