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 […]
Money Market
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 […]
eNaira No Threat to Financial Stability
October 9, 2023/CBN The attention of the Central Bank of Nigeria (CBN) has been drawn to news items on some media platforms — traditional and social — suggesting that the country’s Central Bank Digital Currency (CBDC), the eNaira, is a threat to the nation’s financial stability. After reviewing the reports, […]
