Fidelity bank banner UBA banner
CBN boosts forex market with $262.5m

By News Express on 13/01/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 823

•CBN Spokesman Isaac Okorafor
•CBN Spokesman Isaac Okorafor

In its first Retail Secondary Market Intervention Sales for the year, the Central Bank of Nigeria (CBN) on Friday intervened in the inter-bank Foreign Exchange Market with the total sum of $262,500,000.

Data received from the CBN on Friday revealed that the sum was in favour of the agricultural, airlines, petroleum products and raw materials and machinery sectors.

The Acting Director in charge of Corporate Communications at the CNB, Mr. Isaac Okorafor confirmed the figures, noting that the releases remained targeted at boosting production and trade in addition to sustaining liquidity in the market.

According to him, the CBN would not relent in its resolve to make the inter-bank foreign exchange market liquid, stressing that the Bank was committed to driving economic growth and guaranteeing stability in the market.

Okorafor also reiterated that the Bank’s intervention had effectively checked the activities of speculators, assuring that it would continue to monitor thoroughly the activities of authorised dealers in order to checkmate possible sharp practices.

Meanwhile, the Naira exchanged at N359 to a United States dollar on Friday, maintaining its stability in the market.

Source News Express

Posted 13/01/2018 03:22:28 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
ASUP calls for upgrading of polytechnics

Anambra Guber: Peter Obi wins polling unit •Counting...

Igbo group lauds Tinubu’s leadership quality

Will Nigeria Air succeed where others failed?

Abia flags off ‘Operation pick used water proof...

Soldiers declare war on newspapers, seize copies and...

Nigerian 2019 presidential election: Zoned to competence, By...

Families of jailed Reuters reporters appeal for release...

Xenophobic Attacks: Abike Dabiri tackles South-African minister

UN promises support for Niger Delta development and...

APGA leadership crisis: Maxi Okwu will soon fizzle...

Fake oil merchant dupes American of $629,287

 

Latest News British PM Theresa May survives vote of confidence 2019: Agbaje lashes Sanwo-Olu; insists Lagosians in bondage, need liberation Why there will be no peace in APC: Communications Minister Adebayo Shittu Cashier, wife, mother-in-law docked for bank fraud APC, Presidency designing plots to frustrate PDP governors: Secondus Whistle blowers charged for conspiracy to rob Gov. Dickson to remain in prison Police most violator of human rights, survey finds DTSG assures of effective healthcare coverage Sack Tambuwal from office, APC begs S’Court NPA concessions Terminal B, Warri Old Port FG blames N’Assembly for delay in 2019 Budget presentation Kaduna Polytechnic joins ASUP strike

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (429,903 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (394,838 views) Shameless Genevieve Nnaji exposes breasts in public (327,718 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (281,137 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (247,835 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,274 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,121 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,326 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (179,609 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,454 views) Lagos plane crash: Journalist releases victims’ names (167,243 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (153,696 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,875) Business Verdict (54) Columnists (973) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (679) Global Business Monitor (313) International (2,814) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (69) News (41,381) Opinion (1,151) Pidgin (13) Politics (8,147) Religion (913) Sports (1,817) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera