Browsing: Isaac Okorafor

Industry watchers also believe that the new CBN window for investors and exporters will boost production with its attendant net effect of employment

The Bank’s spokesman, Isaac Okorafor, confirmed the offer and sales on Monday, disclosing that the forwards sales would be concluded in the days to come

The spokesman of the CBN, Isaac Okorafor, attributed the inability of the authorised dealers to fully subscribe to the CBN offer to a surfeit of forex in the system, which may lead to further appreciation of the naira

The Bank’s spokesman, Isaac Okorafor, confirmed the releases, disclosing that the new window for SMEs would no doubt boost the business of SMEs through the importation of eligible finished and semi-finished items, thereby boosting FOREX supply to the retail business segment of the market

Indications of excessive liquidity in the market emerged on Thursday last week when operators could only pick a little over $39 million out of the $100 million offered for bid by the apex bank

Industry experts have attributed the slump in demand to the rate of forex liquidity being pumped into the system by the CBN

Confirming this in Abuja on Wednesday, the Acting Director, Corporate Communications at the Central Bank of Nigeria, Isaac Okorafor, disclosed that the Bank has also commenced heavy injections into the spot market in addition to the settlement of requests for wholesale spot bids for invisibles like school fees, medicals and personal travel allowance

Also on Tuesday, the CBN released its results of seven to 30 days forwards wholesale of $100 million, even as authorized dealers subscribed fully to the $100 million offered by the CBN at the forex auction in the interbank wholesale window on Monday

Isaac Okorafor, the CBN spokesman, disclosed this on Monday

On Wednesday it had gone down to N395 to a Dollar

The Bank’s spokesman, Isaac Okorafor, confirmed the offer in Abuja on Thursday

The Acting Director, Corporate Communications, CBN, Isaac Okorafor said this in a statement on Wednesday in Abuja

Those who stand to gain from the sales through the interbank wholesale auction window include manufacturers, importers of agro-machineries, plants and critical raw materials

The apex bank’s acting Director, Corporate Communications, Isaac Okorafor, in a statement on Sunday said the bank wants to disabuse the notion by market speculators that it wouldn’t be able to sustain its forex intervention

The provision is made particularly for customers buying foreign exchange for school fees and medical fees

This is coming barely 24 hours after Dollars started appreciating against the Naira at the parallel market, going from N370 to N380 due to limited supply

Among the invisibles for which the Dollar is to be sold at the Bank include school fees, Basic Travel Allowance, Personal Travel Allowance and medicals

The dealers were unable to pick up the entire Dollar on offer

In a statement on Monday in Abuja, the CBN’s acting Director, Corporate Communications, Isaac Okorafor, said the wholesale requests will be settled on Tuesday

Emefiele made the call in a statement signed by CBN’s acting Director, Corporate Communications, Isaac Okorafor, on Sunday in Abuja