CBN

CBN UNVEILED PLANS FOR HOUSING FUND PROJECT IN NIGERIA

Posted on by Gambeta News
CBN UNVEILED PLANS FOR HOUSING FUND PROJECT IN NIGERIA

The Central Bank of Nigeria has released the framework for the nation’s proposed housing scheme. The project which is under the Family Homes Financing Initiative (FHFI), will aim at providing 300,000 homes across the 36 states of the country worth (N200billion naira). The initiative will also aimed at revitalising local manufacture of construction materials as the framework was designed to utilise at least 90% locally manufactured inputs and as a result conserve foreign exchange. Such…

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CBN Nigeria administers US$210 million to foreign exchange market

Posted on by Gambeta News
CBN Nigeria administers US$210 million to foreign exchange market

Foreign exchange market recieves US$210m from CBN to ensure stability and sustain liqiudity Central Bank of Nigeria (CBN) added US$210 million to the Inter bank Foreign Exchange Market. This move is in line to ensure availability and meet customers’ request. Mr Isaac Okorafor,  the acting Director, Corporate Communications  said the wholesale division received US$100 million, while Small and Medium Enterprises (SMEs) received US$55 million. Also, 55 million dollars for customers requiring foreign exchange for tuition…

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CBN MADE US$514.4 MILLION IN TWO WORKING DAYS

Posted on by Gambeta News
CBN MADE US$514.4 MILLION IN TWO WORKING DAYS

  CBN sold up to US$514.4 million in two trading days The Central Bank of Nigeria (CBN) in the foreign exchange (forex) market sold up to US$210m last weekend, and US$304.4m yesterday making a total of US$514.4m in two days. Therefore, the local currency has been stable for the past four days, fluctuating around N305 and N305.70 per dollar officially and N360 to N306.37 in the black market.  According to FMDQ OTC security exchange data, yesterdays…

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LAGOS STATE AND OTHERS URGE CBN TO REDUCE INTEREST RATES

Posted on by Gambeta News
LAGOS STATE AND OTHERS URGE CBN TO REDUCE INTEREST RATES

Governor Ambode and others call on CBN to reduce lending rate to five(5) percent. While speaking at the 9th annual bankers committee retreat held in Lagos, Lagos state Governor Akinwumi Ambode called on the Central Bank of Nigeria (CBN) to consider reducing the interest rate for the N220 billion Micro Small and Medium Enterprises (MSMEs) intervention loan to 5 percent. This reduction he said will encourage more off take as the CBN Governor, Godwin Emefiele had earlier on expressed disappointment…

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