Despite the pressure faced by the naira at other segments of the forex market in September, the traditional intervention of the Central Bank of Nigeria (CBN) at its regulated Wholesale Dutch Auction System (WDAS) during the month helped to stabilise the naira. However, from today, the WDAS will no longer […]
Tag: Central Bank
Naira Falls Most Since 2012 on Auction Changes
Nigeria’s naira fell the most in more than 1 1/2 years as the central bank held its last currency auction before tightened controls of the sales are implemented, boosting demand for dollars. The currency of Africa’s biggest crude producer retreated 1.1 percent to 161.55 naira per dollar by 5:11 p.m. […]
CBN Goes Tough on Customers’ Protection
In line with its commitment to protect bank customers, the Central Bank of Nigeria (CBN) at the weekend said it would soon introduce a policy aimed at enforcing the repayment of illegal deductions on customers’ account by banks. Specifically, the CBN Governor, Mallam Sanusi Lamido Sanusi, who revealed this at […]
