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Tag Archives: CBN

May, 2017

  • 3 May

    CBN Bars UBA, GTB, First Bank From Forex Market

    Emefiele-forex market

    The Central Bank of Nigeria, CBN, on Tuesday, barred First Bank, the United Bank for Africa, UBA,  and 12 others  from dealing in the Small and Medium Entreprises, SME, wholesale Forex window. The  other  banks affected by the order are  FCMB, Keystone Bank, Main Street Bank, Stanbic IBTC, Citi Bank, Enterprise …

  • 2 May

    Ecobank Shuts 74 Branches

    Ecobank has shut 74 out of its 479 branches as part of its plan to optimize its digital channels. The bank said, in a statement, that staff of the shut branches will be deployed to other projects. The bank’s managing director, Charles Kie, said the move will help the bank …

  • 1 May

    Expert Lauds New Forex Policy

    A financial expert, Uche Uwaleke, says the new foreign exchange window created for investors will encourage return of portfolio investors to the capital market. Uwaleke, the Head of Banking and Finance Department in Nasarawa State University, Keffi, made the observation in an interview with the News Agency of Nigeria in Lagos …

April, 2017

  • 28 April

    CBN Offers $100m Forex To Dealers

    Emefiele-forex market

    The Central Bank of Nigeria, CBN, on Thursday said it had offered 100 million dollars to authorised dealers as its intervention to stabilise the foreign exchange market. Isaac Okorafor, Acting Director of the Corporate Communications Department of the apex bank disclosed this in a statement on Thursday. Okorafor, however, said …

  • 26 April

    Recession Will Be Over By 3Qtr – CBN

    Emefiele-forex market

    Godwin Emefiele, Central Bank of Nigeria, CBN, governor, has projected the Nigerian economy will overcome recession by the third quarter of this year. “We are very much optimistic that by the end of the second quarter, or latest the third quarter, we should be out of recession that we are …

  • 24 April

    CBN’s Introduces Forex Trading For Investors

    The Central Bank of Nigeria, CBN, has issued a circular allowing investors – traders and buyers – to trade in foreign exchange at rates set by them. “The Central Bank of Nigeria, in a continuing effort to deepen the foreign exchange market and accommodate all FX obligations, hereby announces a …

  • 21 April

    CBN Suspends Cashless Policy

    The Central Bank of Nigeria, CBN, has suspended the implementation of the cashless policy across the country. The policy places a restriction on the amount of cash one can withdraw or deposit. The CBN in a circular issued by its Director of Banking and Payments Department System, on Friday, instructed …

  • 20 April

    Naira’s Steady Rise Against Dollar Continues

    The naira has continued its steady rise against the United States dollar in the parallel market. The local currency appreciated by N12 to close at N385 on Wednesday. The appreciation is attributed to the $62 million supply to the Bureau de Change operators by the Central Bank of Nigeria, CBN. …

  • 20 April

    Again, CBN Pumps $100m In Forex Market

    The Central Bank of Nigeria, CBN has pumped a total $380million within two days into the Foreign Exchange Market. And the effect is further strengthening of the Naira. The first tranche of $280m was released on Tuesday, On Wednesday, the bank offered additional $100 million  to authorised dealers to meet the …

  • 18 April

    N13bn: CBN Ignorant Of NIA Claim

      The Central Bank of Nigeria, CBN, has said it is not sure that the recovered billions from a luxury apartment in Ikoyi, Lagos, was moved directly from the bank to the National Intelligence Agency, NIA. The NIA had claimed it received the funds directly from the apex bank. The …

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