By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Times ReportersTimes Reporters
  • Home
  • News
  • Politics
  • Business
    • Economy
  • Sports
  • Entertainment
  • About Us
  • Bookmarks
Search
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Reading: CBN Restates Commitment To Boost Liquidity in FOREX Market
Share
Sign In
Notification Show More
Latest News
Technovation girls urged to shape Nigeria’s future through STEM
Education Metro News
Abuja schools debate returns, focuses on youth, security, national development
Education News
Cardoso Named African Banker Central Bank Governor of the Year
Awards and Recognitions Business Metro News
Seplat Energy is Redefining Nigeria’s Energy Destiny – Roger Brown, CEO
Business News Oil & Gas
Medical education: FG sets to build 8 medical simulation centres
Health Metro News
Aa
Times ReportersTimes Reporters
Aa
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Search
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Have an existing account? Sign In
Follow US
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Times Reporters > Business > Economy > CBN Restates Commitment To Boost Liquidity in FOREX Market
BusinessEconomyNews

CBN Restates Commitment To Boost Liquidity in FOREX Market

Publisher
By Publisher Published October 12, 2023
Share
2 Min Read
SHARE

 

...Lifts Restrictions On 43 Items For Importation

 

- Advertisement -
Ad image

In order to ensure price stability in the nation’s economy, the Central Bank of Nigeria (CBN) on Thursday declared that it will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time.

The apex bank’s was contained in a statement made available to newsmen by Isa AbdulMumin, the Director, Corporate Communications, adding that the interventions will gradually decrease as market liquidity improves.

The CBN will also continue to promote orderliness and professional conduct by all participants in the Nigerian Foreign Exchange Market to ensure market forces determine exchange rates on a Willing Buyer – Willing Seller principle.

“The CBN reiterates that the prevailing Foreign Exchange (FX) rates should be referenced from platforms such as the CBN website, FMDQ, and other recognised or appointed trading systems to promote price discovery, transparency, and credibility in the FX rates.

“As part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time. As market liquidity improves, these CBN interventions will gradually decrease.

“Importers of all the 43 items previously restricted by the 2015 Circular referenced TED/FEM/FPC/GEN/01/010 and its addendums are now allowed to purchase foreign exchange in the Nigerian Foreign Exchange Market.

“The CBN is committed to accelerating efforts to clear the FX backlog with existing participants and will continue dialogue with stakeholders to address the issue.

“The CBN has set as one of its goals the attainment of a single FX market. Consultation is Ongoing with market participants to achieve this goal. Participants and the general public are to be guided by the above”.

Like this:

Like Loading...

Related

You Might Also Like

Technovation girls urged to shape Nigeria’s future through STEM

Abuja schools debate returns, focuses on youth, security, national development

Cardoso Named African Banker Central Bank Governor of the Year

Seplat Energy is Redefining Nigeria’s Energy Destiny – Roger Brown, CEO

Medical education: FG sets to build 8 medical simulation centres

TAGGED: CBN, forex

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Publisher October 12, 2023
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
Share
Previous Article Keyamo Meets Joint Aviation Union Leaders 
Next Article NUPRC Grants First Petroleum Exploration Licence Under PIA 2021
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe
Telegram Follow

– Member of –

- Advertisement -
Ad imageAd image

Latest News

Technovation girls urged to shape Nigeria’s future through STEM
Education Metro News May 30, 2025
Abuja schools debate returns, focuses on youth, security, national development
Education News May 30, 2025
Cardoso Named African Banker Central Bank Governor of the Year
Awards and Recognitions Business Metro News May 30, 2025
Seplat Energy is Redefining Nigeria’s Energy Destiny – Roger Brown, CEO
Business News Oil & Gas May 30, 2025

You Might also Like

EducationMetroNews

Technovation girls urged to shape Nigeria’s future through STEM

May 30, 2025
EducationNews

Abuja schools debate returns, focuses on youth, security, national development

May 30, 2025
Awards and RecognitionsBusinessMetroNews

Cardoso Named African Banker Central Bank Governor of the Year

May 30, 2025
BusinessNewsOil & Gas

Seplat Energy is Redefining Nigeria’s Energy Destiny – Roger Brown, CEO

May 30, 2025
Times ReportersTimes Reporters
Follow US

© 2024 Times Reporters | Deigned by AuspiceWeb Graphics. All Rights Reserved.

  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
Join Us!

Subscribe to our newsletter and never miss our latest news!

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?
%d