Nigeria’s foreign reserves increase, hit $47bn

Godwin Emefiele, CBN Governor

Nigeria’s foreign reserves have continued to grow significantly with latest figures by the Central Bank of Nigeria (CBN) at about $47.37 billion as at April 5. The new figures rose from about $46.2 billion realised at the end of March. Godwin Emefiele, the CBN Governor,  announced the new balance in the reserves on Monday at […]

Nigeria’s central bank boosts foreign exchange market with $335.43m

The Central Bank of Nigeria (CBN) Friday boosted into the Retail Secondary Market Intervention Sales (SMIS) with the sum of $335.43 million to guarantee liquidity in the market. Figures obtained from the CBN revealed that the intervention was to meet requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors. Isaac Okorafor […]

Nigeria’s FX reserves up 10% in November- CBN

Nigeria’s foreign exchange reserves stood at $37.92 billion as of Dec. 22, up 10.1 percent from a month earlier, central bank data showed on Friday. The government raised $3 billion in Eurobonds in November. Nigeria’s forex buffer has climbed nearly 50 percent since last December but is still far off a peak of $64 billion […]

Nigeria central bank injects $210m into forex market

Nigeria’s central bank said Tuesday it had injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages. The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for certain dollar expenses […]

Nigeria’s central bank injects $195m into forex market

Nigeria’s central bank said it had injected $287.89 million into currency market on Friday to meet requests in four industries for dollars, extending efforts to boost liquidity and alleviate shortages. The four industries targeted are agriculture, airlines, petroleum and raw materials, the Central Bank of Nigeria said in a statement. The central bank said it […]

China’s FX regulator denies U.S. dollar withdrawal limits

China’s foreign exchange regulator has not modified rules on withdrawals of foreign exchange by individuals, the regulator said on Tuesday, following media reports that it had capped the frequency of U.S. dollar withdrawals at two each week. “We have not released any new rules recently regarding domestic cash withdrawals of foreign currency by individuals,” the […]

Nigeria naira outlook positive this week on 5.1% rise in FX reserve levels, CBN interventions

The Nigerian naira is projected to trade positive this week on growing reserves and central bank continued intervention, according to Ecobank Research analysts. At close of trade last week, the naira at N353.4/$ strengthened against the U.S dollar, a development, analysts at Ecobank Research say would continue this week. Specifically, the Nigerian naira strengthened 0.6 […]

ChapelHill Denham lists first-ever N200bn infrastructure debt fund

ChapelHill Denham has listed the first series of its N200 billion Nigeria Infrastructure Debt Fund (NIDF), reputed as the first-ever listed infrastructure debt fund in Nigeria and sub-Saharan Africa. The Chapel Hill Denham Nigeria Infrastructure Debt Fund (“NIDF” or “the Fund”) is a close-ended fund, domiciled in Nigeria and denominated in Naira. The Fund is […]

Nigeria’s currency futures market volumes drop on rate convergence

The recent improvements in foreign currency liquidity at the Nigerian foreign exchange market have ironically affected volumes at the nations’ currency futures market, according to financial analysts and data obtained by Businessamlive. Findings reveal that the volume of trade in the Nigerian currency futures market has dropped dramatically since the Central Bank of Nigeria (CBN) […]