Posted on Fri 15 Jun 2018, 05:23 PM

The retail Secondary Market Intervention Sales (SMIS) has received a boost of $343.06 million from the Central Bank of Nigeria (CBN), following the Bank’s intervention in the Foreign Exchange market on Thursday, June 14, 2018. 

Figures obtained from the Bank indicate that the amount released was for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

Posted on Wed 24 Aug 2016, 08:31 AM

Nigeria's central bank has suspended nine banks from the interbank currency market for failing to remit money owed to the government, banking sources told Reuters on Tuesday.

The suspension comes after the central bank tightened restrictions on the flow of dollars to domestic lenders in March. That has forced the banks to delay hard-currency loan and trade repayments and increased their risk of default.

Posted on Fri 6 Nov 2015, 05:12 AM

The Central Bank of Nigeria has cleared the air in the speculation that the request of BVN by Forex traders from buyers of foreign exchange is illegal and risky.

The APEX bank in a statement signed by the Director Corporate Communication, Ibrahim Mu'azu, said the measure which is a requirement of the CBN is aimed at curbing some excesses noticed in the market

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