Finance
CBN Boosts Forex Market with $210m
The Central Bank of Nigeria (CBN) on Tuesday gave a boost of $210 million to the interbank foreign exchange market.
According to figures released by the bank, the CBN offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Scale Enterprises (SMEs) segment received the sum of $55 million. Another sum of $55 million was apportioned to invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA).
The Acting Director, Corporate Communications Department of the CBN, Mr. Isaac Okorafor, confirmed the figures.
The CBN spokesman reassured the public that the bank would continue to intervene in the interbank foreign exchange market, in line with its determination to sustain liquidity in the market and maintain stability. He added that the steps taken so far by the bank in the management of forex had paid off, as reflected by reductions in the country’s import bills and accretion to its foreign reserves.
The Naira on Tuesday, March 6, 2018 exchanged for N361/$1 on the BDC segment of the market.
European NGO Employee Sentenced to 10 Years Hard Labor for Espionage by Central African Republic Court
British High Commission Honours King Charles III, Celebrates UK-Nigeria Diaspora Bonds
Countdown to AfriTECH 5.0: Meet the Speakers Driving Conversations on Africa’s Digital Independence in the AI Era
LASG Acquires New Outboard Engines For Optimum Boat Performance
Elon Musk builds Hotel in Mars, Sets to launch soon at $5million per night – Photos
We Do Not Accept Refugee Application Directly From People – Canadian Govt.
-
Sports4 days agoCAF Interclub Competitions: CAF and QNET Renew Partnership for 2025/26 Season
-
Health4 days ago
Awba-Ofemili Health Committee donates 7 First Aid boxes to schools
-
GRTech4 days ago
More than Half (58%) of Retailers Hit by Ransomware Pay the Ransom
-
News2 days ago
European NGO Employee Sentenced to 10 Years Hard Labor for Espionage by Central African Republic Court
