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: Central Bank Injects $246.2m for Wholesale, SMEs, Invisibles
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
News

Central Bank Injects $246.2m for Wholesale, SMEs, Invisibles

Farouk Mohammed
By Farouk Mohammed
Published: April 24, 2017
Share
2 Min Read
SHARE

The Central Bank of Nigeria (CBN) on Monday, April 24, 2017, offered the sum of $246.2 million to authorized dealers at the forex auction in the interbank wholesale window, Small and Medium Enterprises (SMEs) and invisibles segments.


 

A breakdown of the total offer indicates that the sum of $150 million was auctioned at the wholesale window while SMEs and invisibles got $52 million and $44.2 million respectively.

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.

He, however, added that the CBN will continue its weekly sale to dealers in the Bureau de Change (BDC) segment this week in order to guarantee onward sale to end users.

- Advertisement -

According to him, the Bank’s continued interventions in the different segments had guaranteed availability to individuals and business concerns.

He disclosed that the Bank was satisfied with the feedback it received concerning the response of Small and Medium Enterprises (SMEs) to access forex from the new CBN window.

He said the CBN was particularly determined to ease the challenges hitherto encountered by small manufacturers hence the move to provide them with easy access to forex.

“SME operators no longer have to patronize or source foreign through unofficial windows and no more pressure on either the BDCs or any other unofficial source with the opening of the special window,” he added.

- Advertisement -

It will be recalled that the CBN, also last week, created a Forex window for investors and exporters, which it named: “Investors’ & Exporters’ FX Window”.

The CBN circular, which announced the creation of the new window, disclosed that the purpose of the window was to boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Central BankSMEsWholesale
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 Kante Can be A “silent leader” for Chelsea – Says Conte
Next Article Kate Henshaw & Stella Damasus End Longtime Beef, Embraces Peace

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 3 weeks ago (June 3, 2025 2:33 pm)

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

USD/NGN Converter

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

Recent Posts

BREAKING: President Tinubu Endorses Four Major Tax Reform Bills
News Top stories
Lagos State Government
Lagos State Government Refutes Peter Obi’s Allegation of Property Demolition, Orders Probe
News
Oyo State Governor Seyi Makinde Renames Polytechnic Ibadan in Honour of Late Dr. Omololu Olunloyo
News
BREAKING: President Tinubu Withholds Assent to NDLEA Bill Over Proceeds Clause
News
BREAKING: High Court in Lafia Sentences Timileyin Ajayi to Death for Killing Corps Member
News
- Advertisement -
Ad imageAd image

You May Also Like

PoliticsTop stories

Barau Jibrin Pledges Unwavering Support for President Tinubu on 2027 Election Decisions

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 26, 2025
News

Ogun State Chief Judge Urges Lawyers to Prioritize Human Rights Over Tradition

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 26, 2025
Nigeria Police - file photo
Crime

Police Launch Manhunt After Female Farmer Found Dead in Ondo State

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 26, 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?