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The naira showed remarkable strength, appreciating by 0.99% to close at ₦1,344.42 per dollar in the Nigerian Foreign Exchange Market (NFEM). This upward trend reflects a positive shift in currency sentiment within the regulated market, with foreign payments slowing relative to US dollar volume.
The naira gained on Friday, closing at N1366 per dollar at the official market on Friday from N1371, following the latest round of FX market interventions.
CBN Directs Banks to Block Loan Defaulters from Accessing Credit The Central Bank of Nigeria (CBN) has instructed commercial banks…
The Central Bank of Nigeria (CBN) mopped up $200 million in naira equivalent at the foreign exchange market as part of an effort to stabilise the local currency.
The Central Bank of Nigeria (CBN) is set to conduct its second Treasury Bills auction for the month on Wednesday, with a total offer of N850 billion in the bucket for subscription.
The Central Bank of Nigeria (CBN) conducted an auction for N600 billion in OMO bills on Monday as part of its strategy to reduce excess liquidity in the financial system.
Deposit money banks (DMBs) and foreign portfolio investors (FPIs) are actively positioning for the Central Bank of Nigeria (CBN) open market operations in the new week amid high liquidity in the financial system.
Money market analysts anticipate that robust primary market repayment of N2.4 trillion will play a pivotal role in strengthening liquidity in the financial system. This anticipated surge in liquidity is primarily driven by inflows from matured Open Market Operations (OMO) and Treasury bills.
The Central Bank of Nigeria (CBN) allotted N4.77 trillion in OMO bills to investors across primary market auctions conducted in February, as part of efforts to reduce excess liquidity in the financial system.
As the March 31 deadline for the bank recapitalisation exercise of the Central Bank of Nigeria (CBN) draws near, the apex bank says 30 banks have met the new capital requirements.