11 results
- 19 Jan 2009
CBN Reintroduces Retail Dutch Auction System
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) last week suspended the Wholesale Dutch Auction System (WDAS) and reintroduced Retail Dutch Auction System (RDAS) with effect from…
- 1 Apr 2014
Exposed! How Cash Cartels are Conspiring to Kill the Naira
A lethal gang of unscrupulous expatriates; some Deposit Money Banks (DMBs; and Bureau de Changes (BDCs) have all conspired to ensure that the Central Bank of Nigeria (CBN) fails to salvage the…
- 1 Oct 2013
CBN Bans Importation of Foreign Currency
Central Bank of Nigeria (CBN) has banned the importation of all foreign currencies except with approval. This is coming on the heels of the apex bank’s withdrawal of the operating licence of 20…
- 6 Dec 2013
Naira Hits N171 Per Dollar as Banks Halt Sale of Forex
The Naira has hit N171 to one United States dollar at the Bureau-de-changes (BDCs), only outlets currently selling to the public besides the parallel market. Banks are currently reluctant to sell…
- 19 Feb 2015
CBN Scraps Forex Market, Devalues Naira to N197 to $1
Central Bank of Nigeria (CBN) yesterday finally succumbed to market forces by devaluing the naira by N29, after several months of propping up the local currency. Effective from yesterday, the central…
- 14 Apr 2009
CBN Improves Liquidity, Slashes MPR to 8%
The Central Bank of Nigeria (CBN) has pegged the monetary policy rate (MPR) at eight percent, in a move to improve liquidity conditions in the domestic money market. Monetary policy rate, formerly…
- 6 Jan 2014
CBN Doles Out $26.6Bn to Defend the Naira
Central Bank of Nigeria (CBN) shelled out some $26.6 billion from the nation’s external reserves to save the naira from devaluation last year, according to information on the apex bank’s website. CBN…
- 23 Mar 2009
Intercontinental Bank Solid, Strong-CBN
Intercontinental Bank Plc, one of Nigeria’s financial powerhouses is in fine state of health, according the pleasing verdict by Central of Nigeria (CBN) The vote of confidence came in the wake…
- 13 Mar 2017
ALTON Urges CBN to Prioritize Allocation of Forex to Telcos
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has drawn the attention of the Executive Vice Chairman (EVC), Nigerian Communications Commission (NCC) to the challenges…
- 3 Mar 2015
Nigeria Loses $2Bn FDI to Polls’ Shift
Nigeria lost over $2 billion worth of Foreign Direct Investment (FDI) to other countries, following postponement of the general elections, according, Norbert Bielderman, to acting managing director…
- 16 Oct 2013
Nigerians Buy and Sell Dollars in Dubai, Saudi Arabia-CBN
Central Bank of Nigeria (CBN) said it has uncovered a new wave of economic crime where some Nigerians buy the United States Dollars in Nigeria and take them to Dubai (in the United Arab Emirates) and…