By InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Tuesday directed banks to allocate 60 percent of their foreign exchange purchases to manufacturers, in order to help them pay for imports and boost the economy. This is contained in a circular with reference number TED/FEM/FPC /GEN/01/007 dated August 23, […]
Money Market
CBN conducts stress tests on nation’s banks
23/8/2016/The Guardian Clara Nwachukwu • It’s a routine examination, say analysts • ‘What can happen to a weak bank’ To assess the strength of the nation’s banks, the Central Bank of Nigeria (CBN) is currently conducting stress tests on them. But depositors need not worry. The tests are routine, according […]
CBN Sells Dollars in FX Market, as Naira Appreciates 2.47% to Trade N308.73/$1 in Interbank
By InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Monday sold dollars to a few banks as the naira appreciated 0.8 percent to trade at N305.50 to a dollar at the interbank FX market following four (4) hours of inactive trading, Cordros daily currency market update reported According to […]
