Banking Latest News

CBN Sanctions Four Banks N5.87Bn Over Regulatory Infractions

The Central Bank of Nigeria (CBN) today disclosed that it had imposed  a fine of N5.87 billion on four banks under its regulatory purview for regulatory infractions. In addition, the apex bank also directed the affected lenders, namely Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank to refund the sum of $8,134,312,397.63 for what it […]

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CBN Supplies $210Mn Into Inter-Bank Forex Market

The Central Bank of Nigeria (CBN) today injected $210 million into the Inter-bank segment of the Foreign Exchange (Forex) market in furtherance of its sustained monetary policy objective of ensuring adequate liquidity in the market sustainably. Figures obtained from the apex bank on the intervention showed  that $100 million was provided for authorized dealers in […]

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CBN Supplies $340.51Mn, CNY 69.86Mn Into Retail SMIS Segment

The Central Bank of Nigeria (CBN), today injected the sum $340, 507, 376.51 into the interbank retail Secondary Market Intervention Sales (SMIS) segment of the nation’s foreign exchange (Forex) market. This is even as it sold Chinese Yuan (CNY) totalling CNY69,858,087.15 in the spot and short tenored forwards. Today’s sale of the Yuan came barely […]

Banking Latest News

CBN Supplies $358Mn Into Retail SMIS Forex Market

The Central Bank of Nigeria (CBN) on Friday injected the sum of $358 million into the Retail Secondary Market Intervention sales (SMIS) segment of the foreign exchange market. The intervention was to ensure adequate liquidity to meet the needs  in the agricultural, petroleum products, airlines, raw materials and machinery sectors. The apex bank’s Acting Director […]

Banking Latest News

CBN Supplies $210Mn To Inter-Bank Forex Market

The Central Bank of Nigeria (CBN) on Tuesday supplied the  inter-bank Foreign Exchange (Forex) market with the sum of $210 million to sustain the market’s liquidity. An analysis of the apex bank’s intervention showed that  authorized dealers in the wholesale segment of the market received $100 million while the Small and Medium Enterprises, SMEs, segment […]