Saturday, August 8, 2020


Home Business CBN Debits Banks N122Billion Naira

CBN Debits Banks N122Billion Naira

The Central Bank of Nigeria has debited N122Billionaira ($338m) from banks excess cash which caused the money market to fall by 25%, with the apex bank before weakening the currency at a retail auction, in a move to unify its multiple exchange rates.

On Friday, The Central Bank of Nigeria’s main forex supplier asked lenders to bid for Dollars at N380 to the Dollar 5% above its official rate to generate more local currency from its Dollar inflows and further achieve of naira stability.

The Naira had opened weaker at 387 against the Dollar on the over-the-counter and It further weakened to N462 at the black market on Monday.



Please enter your comment!
Please enter your name here

Most Popular

Bauchi: Governor Gets Criticized by Nigerians Over The appointment of SA on Unmarried Women And He Defends it

Sen Bala Mohammed , Governor of Bauchi State on Friday, appointed the office of Special Assistant on women affairs(unmarried) to Balaraba Ibrahim...

NDDC: Acting MD, Pondei Lists contracts which the National Assembly Allegedly Compelled The NDDC IMC To Pay Before The 2019 Budget Was Harmonized.

Prof. Kemebradikumo Daniel Pondei, Acting MD of NDDC, over the weekend released the list of contracts which the National assembly reportedly forced...

Download MUSIC} Menim -Zoe

Phenomenon Gospel minister , worship leader and prolific songwriter ,Menin releases new powerful single titled '' Zoe" ( Man of Valour) ...

BBNaija: ”If I Am offered N3m To Leave The House I Will Reject It, I Prefer To Be Here To See Erica Often” –...

During a conversation time with Kaisha, Laycon professes his undying love for Erica saying he would prefer to remain in the house...

Recent Comments

%d bloggers like this: