Standbic IBTC lists Nigeria’s largest open-ended dollar, money markets, bond funds on FMDQ platform

As a debt-capital focused securities exchange, championing and supporting market-driven initiatives aimed at providing liquidity and facilitating growth and development in the Nigerian financial markets, FMDQ OTC Securities Exchange (FMDQ), through its board listings, Markets and Technology Committee, admitted the listing of the Stanbic IBTC Dollar, Money Market and Bond Funds (the SIAML Funds) on […]

Slight variations, but naira relatively stable on street market

By Remilekun Davies and Ademola Badmus Nigeria’s foreign exchange market, which plays host to various kinds of players, each contributing to the challenge in the multiplicity of rates and the ever-widening gulf between the official and the unofficial rates, produced a relatively stable naira at the parallel market last week, business a.m. currency monitoring across […]

Nigeria’s central bank boosts forex market with $210m

The Central Bank of Nigeria (CBN) Monday boosted the inter-bank foreign exchange market with the sum of $210 million to meet customers’ requests in various segments of the market. In its quest to meet the customers’ needs in the sundry segments of the market, the CBN offered $100 million to authorised dealers in the wholesale […]

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

Nigeria’s central bank said Tuesday it had injected $195 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, $50 million for small businesses and individuals, and $45 million for certain dollar expenses […]

CBN injects $142.5m into forex market

The Central Bank of Nigeria (CBN) on Monday injected 142.5 million dollars into the inter-bank foreign exchange, days after intervening in the retail segment of the market with 254.3 million dollars. The spokesperson of the apex bank, Isaac Okorafor, in a statement, said the CBN would continue to carry out its regular mediation in the […]

Gaps in multiple forex rates narrow, naira opens at N364/$ Wednesday

Strong interventions by Central Bank of Nigeria (CBN) geared towards achieving stability amidst  convergence in the exchange rate of the naira  is impacting positively on activities of Nigeria’s foreign exchange market as gap in rates narrows. The forex market opened trading on Wednesday morning with diverse rate for dollar, coming from the multiple foreign-exchange window […]