Home / Tag Archives: Isaac Okorafor

Tag Archives: Isaac Okorafor

Experts fault CBN’s claims of inflationary pressure for not cutting banks’ lending rates

CBn Emefiele

Nigerians have reacted to a recent comment by an official of the Central bank of Nigeria (CBN), saying that the apex bank may not reduce the benchmark lending rate anytime soon owing to the high inflationary pressure in the country. The official was quoted as saying that the general thinking within the bank was that loosening the current monetary policy ...

Read More »

Zenith Bank leads other 7 in continued SMEs forex window after sack of 16 violators

CBn Emefiele

For keeping to the laid down due process in the administration of Small and Medium Scale Enterprises (SMEs) window of the foreign exchange market access, the Central Bank of Nigeria (CBN) has named Zenith Bank and seven others as only operators henceforth. Others joining the bank include Access Bank Plc, Diamond Bank Plc, Fidelity Bank Plc, Heritage Bank, Jaiz Bank, ...

Read More »

CBN moves to boost forex liquidity, improve access to SMEs and retail businesses to forex.

smes logo

Relying on the introduction of the use of Form X, for the Small and Medium-scale Enterprises (SMEs) seeking to purchase foreign exchange from the Central Bank of Nigeria (CBN), analysts are upbeat that that the policy will grow  the activities of the subsector. At first, the apex bank said the decision was part of its commitment to increase forex liquidity ...

Read More »

CBN’s new special forex window for SMEs’ll drive cut forex settlement period

CBN emefiele 2

Analysts have hailed the tactics used by the Central Bank of Nigeria (CBN) to open a special foreign exchange window for the Small and Medium Enterprises (SMEs), saying it would help in growing the sector faster. Before now, many SMEs had gone under due to paucity of forex, but some other experts say the idea came very late as several ...

Read More »

CBN begins tightening of liquidity with seven to 30-day maturity Forwards sale

CBN MPC meeting

Indications have emerged that the combination of foreign exchange (forex) and Treasury Bills (T-Bills) auctions by the Central Bank of Nigeria (CBN) last week, calmed the quantity of money in circulation making investors to scout for naira to pay for their transactions. CBN had on Friday, ended the weekly transactions with a $418 million at the retail-SMIS at a marginal ...

Read More »

CBN deepens forex rates convergence drive, crashes BDC rate to N360 to sell at N362 only

CBN MPC meeting

All most 24 hours after the Central Bank of Nigeria (CBN) directed Deposit Money Banks (DMBs) in the country to sell foreign exchange obtained from it to retail end-users at not more than N360/$1 for invisibles, the apex bank on Tuesday, March 28, 2017 crashed the rate at which it sells forex to Bureaux De Change (BDCs) in Nigeria to ...

Read More »

CBN again, injects $195mn to saturate ease of access at forex market on naira gain

naira dollar

The sustained but momentary recovery of naira at the interbank market received another boost Tuesday as the Central Bank of Nigeria (CBN) released another lump of $195 million. Acting Director of Corporate Communications at the apex bank, Isaac Okorafor, gave a breakdown of the release, saying the amount $150 million was released through wholesale auction just as the the remaining ...

Read More »