By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE) – The Central Bank of Nigeria (CBN) said on Tuesday that banks are required to use dollars bought from the interbank market within 72 hours from the valued date, after which they must be returned to the CBN for re-purchase at the Bank’s buying […]
Money Market
Nigeria’s naira eases despite central bank dollar sales
Tue Jan 13, 2015/Reuters Nigeria’s naira eased against the U.S. currency on Tuesday despite the central bank selling more dollars the previous day at its forex auction, due to strong demand for the greenback, dealers said. The central bank sold $249 million at 168 naira to the dollar, at its […]
CBN should adjust naira value quarterly – Chike-Obi
The Central Bank of Nigeria needs to adjust the value of the naira every quarter in order to mitigate the effect of inflation that can, among other things, make goods manufactured within the country not competitive. The Managing Director, Asset Management Corporation of Nigeria, Mr. Mustafa Chike-Obi, who stated this, […]
