Business
CBN releases $250m for agricultural, airline, petroleum &raw materials
The Central Bank of Nigeria (CBN) has released additional $250 million on 7 to 30-day forwards for agriculture, airline, petroleum products and raw materials.
The Bank also called for bids for wholesale spot for $100 million for Basic/Personal Travelling Allowance, medicals and tuition fees.
Confirming this in Abuja on Wednesday, the Acting Director, Corporate Communications at the Central Bank of Nigeria, Mr. Isaac Okorafor, disclosed that the Bank has also commenced heavy injections into the spot market in addition to the settlement of requests for wholesale spot bids for invisibles like school fees, medicals and personal travel allowance.
It will be recalled that earlier this week, the apex Bank had disbursed $20,000 each to the Bureau De Change (BDC) operators in two tranches of $10,000 each, which according to Mr. Okorafor underscores the commitment of the Bank to ensure liquidity in the foreign exchange market.
-
News2 days agoSpaceX insiders get their first chance to cash out — but the stock’s slide will limit their opportunity
-
Economy2 days agoAfrican free trade agency taps Nigerian firm for $3.1bn customs overhaul project
-
Finance2 days agoNigeria’s plan to tax crypto transactions could undermine adoption–operators
-
Economy2 days agoUNCTAD estimates Nigeria’s FDI inflow rose from $1.614bn in 2024 to $4.005bn in 2025
-
Finance2 days agoNAICOM revokes Nigeria Reinsurance licence, freezes bank accounts
-
Stock Market2 days agoNGX extends gains with All-Share Index (advancing by 0.12%
-
Maritime2 days agoWe are committed to building an efficient, transparent, globally competitive maritime administration—Mobereola
-
Economy13 hours agoAfrica’s infrastructure guarantees platform plans to double its capital, CEO says