Shell Energy Entrepreneurs banner Yudala banner
CBN sustains forex supply

By News Express on 10/03/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 866

•CBN Ag. Director, Corporate Communications, Isaac Okorafor.
•CBN Ag. Director, Corporate Communications, Isaac Okorafor.

The Central Bank of Nigeria (CBN) on Thursday offered the sum of $100,000,000 as wholesale interventions, just as it sold about $70,000,000 to meet requests for Business/Personal Travel Allowances.

Disclosing this to newsmen yesterday, the CBN Acting Director, Corporate Communications, Isaac Okorafor, said that the apex bank remained resolute in ensuring that it supplies enough forex to genuine customers of Deposit Money Banks and increase liquidity in the market.

Okorafor pointed out that the uniqueness of the Wholesale Forwards was that banks are allowed to use their winnings from auctions to fund matured obligations to meet Letters of Credit remittances, extinguish bills for collection and other foreign exchange (forex) demands.

With this development, importers who had hitherto been using bills for collection will now experience relief instead of having to patronise other more expensive sources.

It will be recalled that the CBN only on Tuesday, March 7, 2017 injected another sum of $100m into the interbank foreign exchange market in its resolve to ease the challenge of access to foreign exchange by genuine customers.

Thursday’s injection by the CBN takes the amount so far offered in the interbank forex market within the past few weeks to over $1.2 billion for both wholesale and retail interventions.

Source News Express

Posted 10/03/2017 3:26:38 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Information Minister Labaran Maku declares President Jonathan’s office...

Ortom orders reopening of Benue varsity

Customs impounds another 475 sets of arms at...

Reps decry N60m grass-cutting proposal in 2017 Budget...

Soon, no one in Nigeria will be able...

Boko Haram kills 6 soldiers in fresh wave...

3 killed in IDP Camp fire incident

PDP calls for cancellation of elections in Khana...

9,000 IDPS duped of N27 million; suspect lands...

FG, 6 states meet over sustainability of International...

Osinbajo assigns portfolios to 2 new ministers, inaugurates...

Mourinho writes off Man U, Man City, Arsenal...

 

Latest News Remember the poor and give back to the society, Akpabio charges politicians •Promises more constituency projects PAMO University begins admission of students, activates website Killer herdsmen unmasked Police, Army launch manhunt for Niger Delta militants who kidnapped 5 oil workers 2019: Ministers, Nnamani, Kalu launch Buhari’s South West campaign office Federal Polytechnic Kauran Namoda issuing fake results, says Senior Staff Association Phone thieves burn 12-year-old boy Fulani killings: Group berates APC governors, says visit to Benue belated Presidency defends appointment of NIA DG, says he’s qualified for the job NBA seeks justice for victims of herdsmen attacks Ukah chides Oshiomhole over threat to install APC governor in Delta State Talks to end US government shutdown end in deadlock

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (316,080 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (306,458 views) Shameless Genevieve Nnaji exposes breasts in public (245,455 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (201,728 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (190,340 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (179,738 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (155,832 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (140,208 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (136,246 views) Lagos plane crash: Journalist releases victims’ names (124,724 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (122,040 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (119,102 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,854) Business Verdict (32) Columnists (792) Complaints & Requests (94) Enterprise & Opportunities (200) Entertainment (431) Features (541) Global Business Monitor (222) International (1,751) Interviews (139) Live Commentary (28) Love Matters (100) News (32,054) Opinion (868) Pidgin (10) Politics (4,363) Religion (667) Sports (1,408) Stock Watch (26) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!