CBN injects $195m into forex market

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Central Bank of Nigeria Headquaters, Abuja

The Central Bank of Nigeria (CBN) on Monday boosted the forex market by offering a total of $195 million in various segments of the market.

In the wholesale segment of the inter-bank Foreign Exchange market, it auctioned $100 million and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with the sum of $50 million and $45 million respectively.

The Acting Director, Corporate Communications Department, Isaac Okorafor, said that during this season when there are pressures on the market from those seeking forex for school fees and vacations.

He said the bank has kept faith with its resolve to ensure that there is sustained liquidity in the market and ensure that genuine requests for forex are met, as well as improve liquidity and flexibility in the market.

This comes on the heels of last week’s intervention in which the retail secondary market intervention sales (SMIS) received the largest allocation of $264.1 million and the authorised dealers in the wholesale window had the sum of $100 million.

It will be recalled also that last week, the CBN, in a bid to improve foreign exchange availability in the Nigerian Forex Market and ameliorate challenges encountered by critical stakeholders, says payment for port charges to the Nigerian Ports Authority (NPA) and other agencies by oil marketing companies would henceforth be accommodated by the Bank using Form ‘A’. It is hoped that the move by the CBN would go a long way in speeding up operations at the ports, thereby enhancing the ease of doing business in the country.

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  218. Heya just wanted to give you a brief heads up and let you know a few of the images aren’t loading correctly. I’m not sure why but I think its a linking issue. I’ve tried it in two different web browsers and both show the same outcome.

  219. I cling on to listening to the newscast talk about getting free online grant applications so I have been looking around for the finest site to get one. Could you tell me please, where could i acquire some?

  220. Have you ever considered publishing an e-book or guest authoring on other sites? I have a blog based upon on the same topics you discuss and would love to have you share some stories/information. I know my visitors would appreciate your work. If you’re even remotely interested, feel free to send me an email.

  221. Wonderful blog! I found it while surfing around on Yahoo News. Do you have any tips on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Appreciate it

  222. I was curious if you ever thought of changing the page layout of your site? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having 1 or two pictures. Maybe you could space it out better?

  223. Hello there! I know this is kind of off topic but I was wondering if you knew where I could locate a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having problems finding one? Thanks a lot!

  224. Howdy, i read your blog from time to time and i own a similar one and i was just wondering if you get a lot of spam comments? If so how do you prevent it, any plugin or anything you can recommend? I get so much lately it’s driving me mad so any support is very much appreciated.

  225. Do you have a spam issue on this site; I also am a blogger, and I was wondering your situation; many of us have developed some nice procedures and we are looking to trade techniques with other folks, why not shoot me an email if interested.

  226. Hmm it appears like your blog ate my first comment (it was extremely long) so I guess I’ll just sum it up what I submitted and say, I’m thoroughly enjoying your blog. I as well am an aspiring blog writer but I’m still new to everything. Do you have any recommendations for beginner blog writers? I’d genuinely appreciate it.

  227. Hi there just wanted to give you a quick heads up. The words in your content seem to be running off the screen in Safari. I’m not sure if this is a formatting issue or something to do with browser compatibility but I thought I’d post to let you know. The design look great though! Hope you get the issue solved soon. Many thanks

  228. I was wondering if you ever considered changing the structure of your website? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having one or two pictures. Maybe you could space it out better?

  229. Greetings! I know this is kinda off topic nevertheless I’d figured I’d ask. Would you be interested in exchanging links or maybe guest authoring a blog article or vice-versa? My website discusses a lot of the same topics as yours and I think we could greatly benefit from each other. If you’re interested feel free to send me an e-mail. I look forward to hearing from you! Great blog by the way!

  230. I do not know if it’s just me or if perhaps everyone else experiencing issues with your website. It looks like some of the written text within your content are running off the screen. Can someone else please comment and let me know if this is happening to them too? This might be a problem with my web browser because I’ve had this happen previously. Appreciate it