The Central Bank of Nigeria has sustained its intervention in the Inter-Bank Foreign Exchange Market by injecting 210 million dollars into the various segments of the market.
Browsing: Isaac Okorafor
Announcing the decision in Abuja on Wednesday, CBN’s Director, Corporate Communications, Isaac Okorafor, said the actions on the Bank became necessary following allegations of remittance of foreign exchange with irregular Certificates of Capital Importation issued on behalf of some offshore investors of MTN Nigeria Communications Limited and subsequent investigations carried out by the apex bank in March 2018
The Central Bank of Nigeria has injected 210 million dollars into the inter-bank Foreign Exchange Market to ensure adequate supply of foreign exchange to customers.
The Central Bank of Nigeria has sustained its intervention in the inter-bank foreign exchange market by injecting 210 million dollars into the various segments of the market.
The acting Director, Corporate Communications, Isaac Okorafor, said the sale in the Chinese Yuan was done through a combination of spot and 15-day tenor.
A statement issued by the Bank on Friday disclosed that the sales shall be through a combination of spot and short tenored forwards.
The CBN acting Director, Corporate Communications, Isaac Okoroafor, said that the CBN offered 100 million dollars to authorised dealers in the wholesale segment of the market.
In a statement on Tuesday in Abuja, he said 100 million dollars was allotted to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises segment got 55 million dollars.
According to him, the bank, in its desire to meet customers’ needs, offered 100 million dollars to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises segment got 55 million dollars.
Okoroafor said this on Tuesday at a news conference in Abuja ahead of this year’s edition, holding from June 21 to 30.
This followed the Bank’s intervention in the Foreign Exchange market on Thursday.
The acting Director, Corporate Communications, CBN, Isaac Okorafor in a statement in Abuja, said the bank offered 100 million dollars to authorised dealers in the wholesale segment of the market.
The acting Director, Corporate Communications, CBN, Isaac Okorafor, in a statement on Monday in Abuja, said henceforth, BDC operators would buy the United States dollar from the CBN at N357 per dollar to sell at N360.
According to the Executive Director, Operations at DigitalSENSE Africa Media, the organisers of NDSF series, Nkemdilim Nweke, both Okereafor and Uzor would be addressing data protection and web entrepreneurship respectively alongside other speakers at the forum slated for Cooperative Hall, Oshodi-Isolo Secretariat, Oshodi, Lagos.
Confirming this to newsmen on Monday, in Abuja, the Acting Director, Corporate Communications Department, at the Bank, Mr. Isaac Okorafor, said the decision was aimed at giving BDCs a level playing field to enable them compete favourably with other authorized foreign exchange dealers.
Friday’s sale of foreign exchange by the CBN came closely on the heels of its intervention in the wholesale segment of the market on Wednesday when it pumped $210 million in the inter-bank forex market.
CBN Acting Director, Corporate Communications, Isaac Okorafor, stated this in a statement on Wednesday in Abuja, saying that Buhari in a letter dated May 24, 2018, wished Adelabu well in his future endeavor.
A statement from the CBN acting Director, Corporate Communications, Isaac Okorafor, on Sunday indicated that the new directive would allow eligible travellers more access to foreign exchange and allow more liquidity to the market.
The apex bank said this in a statement on Tuesday.
Okorafor stated in the statement on Wednesday in Abuja that CBN offered 100 million dollars to authourised dealers in the wholesale segment of the market.