By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: CBN Boosts Forex Market With $195m
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessNews

CBN Boosts Forex Market With $195m

Farouk Mohammed
By Farouk Mohammed
Published: August 22, 2017
Share
2 Min Read
SHARE

The Central Bank of Nigeria (CBN) on Monday boosted the foreign exchange market by offering a total of $195 to three market segments.

The bank auctioned $100m in the wholesale segment and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with the sum of $50 million and $45million respectively.

The acting director, Corporate Communications Department, Isaac Okorafor, noted that during this season when there are pressures on the market from those seeking forex for school fees and vacations.

The CBN has kept faith with its resolve to ensure that there is sustained liquidity in the market and ensure that genuine requests for forex are met, as well as improve liquidity and flexibility in the market.

- Advertisement -

This comes on the heels of last week’s intervention in which the retail secondary market intervention sales (SMIS) received the largest allocation of $264,192,252.95 and the authorized dealers in the wholesale window had the sum of $100,000,000.

It will be recalled also that last week, the CBN, in a bid to improve foreign exchange availability in the Nigerian forex market and ameliorate challenges encountered by critical stakeholders, said payment for port charges to the Nigerian Ports Authority (NPA) and other agencies by oil marketing companies would henceforth be accommodated by the Bank using Form ‘A’.

It is hoped that the move by the CBN would go a long way in speeding up operations at the ports, thereby enhancing the ease of doing business in the country.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CBNForex Market
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Buhari’s Speech Was A Lion’s Roar Meant For Nigeria’s Unity – Sen. Shehu Sani
Next Article PDP’s Presidency Remains Zoned to the North – Makarfi

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Nigerian Troops Neutralize Terror Kingpin Mai Dada, Recover Arms in Multi-Region Operations
Security
NNPP Welcomes Possibility of Rabiu Kwankwaso Joining APC Amidst Ganduje’s Resignation
News
Tinubu’s State Visit to Saint Lucia Marks Historic Diplomatic and Cultural Engagement, Presidency Clarifies
International News
President Bola Tinubu Suspends Implementation of Financial Reporting Council Amendment Act 2023
News
Aminu Dantata to be Buried in Madinah After Saudi Approval
News
- Advertisement -
Ad imageAd image

You May Also Like

CrimeVideo

VIDEO: NDLEA Issues Strong Advisory to Travellers Against Carrying Unknown Bags

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
News

SERAP Demands Transparency from Nigeria’s Governors on Security Vote Spending

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
NewsSecurity

Security Situation Improving, CDS Urges Continued Support from Nigerians

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?