Browsing: Isaac Okorafor

Isaac Okorafor, the Acting Director, Corporate Communications Department of CBN, said this in a statement on Monday in Abuja.

Confirming the figures, the CBN Acting Director, Corporate Communications, Isaac Okorafor, reiterated that the Bank’s intervention was in line with its commitment to sustain liquidity in the market to meet genuine requests as well as deepen flexibility in the foreign exchange market

Isaac Okorafor, the CBN’s acting Director of Corporate Communications, made the condemnation in an interview with the News Agency of Nigeria on Wednesday in Abuja.

Information obtained from the CBN on Friday indicated that the deals in the retail window represent requests from the various sectors in the Secondary Market Intervention Sales, thereby providing a boost to the respective sectors

The Bank’s Acting Director, Corporate Communications Department, Isaac Okorafor, confirmed the figures and disclosed that the Bank was impressed by the high level of transparency exhibited by stakeholders in the market

The spokesman of the CBN, Isaac Okorafor, confirmed the intervention of the two regulators in the loan dispute

A breakdown of the intervention revealed that the Bank offered $100 million to authorized dealers interbank wholesale window, while it allocated $50 million to the Small and Medium Enterprises window

Rising from a meeting of the Bankers’ Committee in Lagos on Thursday, the CBN said its decision to mop up liquidity was in reaction to the maturity of N206 billion on Thursday

Giving a breakdown of the Bank’s latest round of intervention on Monday, the CBN Acting Director in charge of Corporate Communications, Isaac Okorafor, disclosed that the CBN offered the sum of $100 million to dealers in the wholesale window, while the Small and Medium Enterprises window was allocated a total of $28 million

Confirming the figures on Monday, the Acting Director, Corporate Communications at the CBN, Isaac Okorafor, said the Bank was pleased at the performance of the naira, which had made tremendous gain against the dollar in recent times

A statement issued by its Acting Director, Corporate Communications, Isaac Okorafor in Abuja said that this was part of measures to underline its determination to guard the international value of the naira

The fresh injection was done on Monday

The CBN Acting Director, Corporate Communications, Isaac Okorafor, confirmed this on Tuesday while disclosing that the sales will be settled this week

It will be recalled that the CBN on Friday sold $389 million to authorized dealers in the retail sector of the market as spot and forwards

The Bank also on Wednesday offered another $150 million to be auctioned at the wholesale windows of the inter-bank market

Sources at the CBN disclosed that the financial regulator took the decision to bar the erring banks based on field reports, which revealed that only eight banks had sold forex to the SMEs segment since the inception of the new window

Industry experts are of the view that the rate of forex liquidity being pumped into the system by the CBN will lead to a depreciation of the dollar against the naira

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 Acting Director, Corporate Communications Department at the CBN, Isaac Okorafor, disclosed this, adding that no intervention was made in the retail window in Thursday’s auction

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 $182.72 million was sold as forwards