The flour and pasta maker will offer 1.47 billion shares at N27 apiece, an 18.2 per cent discount to Thursday’s market price of N33.
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The spokesman stated that the suspects violated Sections 20 and 21 of the CBN Act that made selling or hawking of Naira notes an offence.
At the Bureau De Change window, the Naira traded at N362 to the Dollar, slightly lower than the parallel market rate, while the Pound Sterling and the Euro closed at N475 and N420.
Alhaji Shu’aibu Ibrahim, the Chairman of the council, told the News Agency of Nigeria in Koko on Friday that crop worth millions of Naira were razed.
The Acting Director, Corporate Communications Department, CBN, Isaac Okorafor in a statement said $100 million was offered to the wholesale segment, while the Small and Medium Enterprises segment got an allocation of $55 million.
The Nigerian currency had exchanged at N520 to the dollar at the peak of onslaughts by currency speculators before the CBN stated intervening by injecting foreign exchange in the market
Traders told NAN that patronage at the market was slow as they awaited the outcome of the Monetary Policy Committee meeting of the Central Bank of Nigeria
In anticipation of Sallah holiday, the Central Bank of Nigeria on Thursday raised the total intervention for the week to…
Traders at the market said uncertainty on the exchange rate permeated trading as buyers exercised great caution
The Nigerian currency gained two points to trade at N363 to the dollar on Tuesday at the parallel market in Lagos, stronger than N365 posted on Monday.
The Nigerian currency gained one point to exchange at N365 to the dollar at the parallel market, stronger than N366 posted on Friday, while the Pound Sterling and the Euro traded at N475 and N420, respectively.
Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria, said that the outlook of the Naira remained positive
NAN reports that the Nigerian currency rebounded barely 24 hours after the Central Bank of Nigeria injected $195 million
Alhaji Aminu Gwadabe, the President of Association of Bureau de Change Operators of Nigeria, said that he expected the naira to continue to appreciate in the coming weeks
The Naira had maintained the same rate on Tuesday
Currency traders said the liquidity boost at the FOREX market had forced the naira to appreciate
Currency traders in Lagos said the offer of $20,000 to each of the BDCs on Wednesday helped to stabilise the naira
Currency traders said in spite of the marginal loss of the Naira, the nations’ currency had remained stable
Speaking on the development, the Acting Director of Corporate Communications at the CBN, Isaac Okorafor, said the inability of authorized dealers to pick up the whole amount offered was a pointer to the fact that there was enough foreign exchange to meet legitimate forex demands within the system
The Nigerian currency lost two points to close at N390 to the dollar, while the Pound Sterling and the Euro traded at N495 and N415 respectively