October 13, 2023/CSL Research According to a new communiqué issued by the Central Bank of Nigeria (CBN), importers of all 43 items previously barred from obtaining foreign cash through official channels are now permitted to purchase foreign exchange in the Nigerian foreign exchange market. The CBN also stated that it […]
Money Market
CBN Restates Commitment to Boost Liquidity in FOREX Market, Lift Ban on 43 Items
October 12, 2023/CBN 1. The Central Bank of Nigeria (CBN) will continue to promote orderliness and professional conduct by all participants in the Nigerian Foreign Exchange Market to ensure market forces determine exchange rates on a Willing Buyer – Willing Seller principle. 2. The CBN reiterates that the prevailing Foreign […]
Sustained Demand Pressure Continues to Weaken the Currency Despite CBN Intervention
October 11, 2023/CSL Research Based on the half year financial markets report of the Central Bank of Nigeria, the apex bank has maintained its intervention in the foreign exchange market in an attempt to alleviate demand pressures and ensure exchange rate stability. A total of US$6,439.33 million (US$9,229.26 million in […]
