Shell Energy Entrepreneurs banner Yudala banner
CBN auctions $185.86 million

By News Express on 27/04/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 518

•CBN Governor Emefiele.
•CBN Governor Emefiele.

Following Tuesday’s assurances by the Governor of the Central Bank of Nigeria, Godwin Emefiele, that the CBN will continue to intervene in the foreign exchange market, the apex Bank on Wednesday auctioned the sum of $185.86 million at the retail Secondary Market Intervention Sales (SMIS).

The bank’s Acting Director in charge of Corporate Communications, Isaac Okorafor, while confirming the auction sale, disclosed that out of the auctioned amount, only $3.14 million was sold as spots, while the sum of $182.72 million was sold as forwards.

Okorafor further explained that the overall picture of the inter-bank forex market was that of optimism, going by the level of access now being enjoyed by different categories of customers in both the wholesale and retail segments of the market.

News Express reports that Emefiele, while assuring Nigerians of the imminent end of the current recession in 2017, at the end of his meeting with the leadership of the Senate on Tuesday, April 25, 2017, declared that the Bank will continue its relentless intervention in the forex market.

Emefiele hinged the optimism of the CBN on the accretion to the country’s foreign reserve, which he said currently hovered above the $31 billion mark. According to him, “Our reserves stand at above $31bn and that provides us enough of firepower or ammunition to be able to defend the currency, and we will do so with all intensity to ensure that foreign exchange is procured by everybody.”

He further reiterated the Bank’s assurance to all shades of genuine customers that the CBN would provide them the needed foreign exchange to meet their legitimate needs, stressing that the new forex window opened by the apex bank last week aimed at encouraging foreign investors in the country’s forex market.

Source News Express

Posted 27/04/2017 1:38:35 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...
Clean sweep in Adamawa Govt. House as deputy...

Prof. Iyayi’s kinsmen demand N50bn compensation from Kogi...

Fidelity Bank to empower MSMEs in Anambra

Release our son unconditionally, Nnamdi Kanu’s parents tell...

Resumption: Ondo to query absent teachers

Gov. TA Orji booed and disgraced in Aba...

Auchi begins process to establish Islamic university

UTME candidates grumble over sudden cut of exam...

Air Force bombers wipe out Boko Haram leaders,...

Senator-elect Dino Melaye calls for reduction of lawmakers’...

Nasarawa appeals to communities over water scarcity

Igbo leaders storm Aso Rock with long shopping...

 

Latest News US announces time for relocation of Embassy to Jerusalem Gunmen abduct lawmaker’s 2 children, kill 3 villagers 80 students escape death as fire razes hostel Combat-ready MOPOL to tackle killer Badoo boys, other criminals in Ikorodu Lagos Nigeria, US launch Security Governance Initiative Go for second term, South-East APC leaders urge Buhari Government shutdown takes heavy toll on US workers, economy WHO donates 853 motorcycles to Nigeria for disease surveillance Music star Olamide joins war against drug abuse Kano market fire ‘economically destabilising’ — Buhari Weah sworn in as Liberia president, vows to end corruption Enugu Airport runway wears new look

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (316,508 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (307,148 views) Shameless Genevieve Nnaji exposes breasts in public (245,717 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (201,884 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (190,507 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (179,941 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (156,100 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (140,477 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (136,405 views) Lagos plane crash: Journalist releases victims’ names (124,852 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (122,229 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (119,195 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,855) Business Verdict (32) Columnists (792) Complaints & Requests (94) Enterprise & Opportunities (201) Entertainment (431) Features (541) Global Business Monitor (222) International (1,753) Interviews (139) Live Commentary (28) Love Matters (100) News (32,096) Opinion (869) Pidgin (10) Politics (4,367) 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

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!