CBN Reacts To News Of The Arrest Of Two Of Its Directors By EFCC
Two directors of the Central Bank of Nigeria (#CBN) were on Wednesday, March 29, arrested by officials of the Economic and Financial Crimes Commission (EFCC). Punch reports that the directors were arrested for alleged foreign exchange manipulation and economic sabotage. Also, gathered that the directors were still in custody as at 7.30 pm on… (0 comment)

CBN To Sell Dollar To Fuel Importers
As the scarcity of the United States #dollar continues to hamper the importation of petroleum products by marketers, the Central Bank of Nigeria has asked banks to submit bids for a “special currency auction.” The auction is targeting fuel importers to meet demand for matured letters of credit, Reuters quoted traders as saying. Traders said the #CBN… (0 comment)

During the weekend the #Central Bank of Nigeria #governor, #Godwin Emefiele, gave journalists cheery news on the state of the Nigerian economy. He said we are past the worst part of the recession. Foreign portfolio investors have injected $1 billion into the economy in the last two and half months An Emergency Spending Bill, which… (0 comment)

It is good news to hear that the Nigerian #Naira on Monday plunged 31 per cent to 288.85 against the U.S #dollar. This was at a result of the newly esterblished interbank market. The local currency also depreciated at the parallel market where it closed at 346 to the greenback, down from around 330 and… (0 comment)

The Central Bank of #Nigeria today announced a flexible foreign exchange regime that would be determined by market forces. Speaking at a news conference in Abuja today June 15th, the Central Bank #governor, #Godwin Emefiele said under the new plan, the official exchange rate of the naira will exist in a “single flexible window,” which… (0 comment)

#Nigeria’s #central bank Governor #Godwin Emefiele will unveil a new #currency policy on Wednesday afternoon in Abuja, the capital, according to a spokesman. The #governor’s announcement will be televised, Isaac Okorafor said by phone from Abuja. Emefiele has faced calls for more than a year to devalue the currency, as other oil exporters from Russia… (0 comment)
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