Is CBN Defending The Naira Or Dollar?

“As I speak to you, our external reserves stand above $31bn, and that provides us with enough fire power to be able to defend the naira”

CBN pegs N360 to one dollar at retail market

The Central Bank of Nigeria (CBN) yesterday approved an exchange rate of N360 to the United States dollar in line with its liberalisation policy for the retail segment unveiled five weeks ago. During the period, the apex bank committed nearly $2 billion in the foreign exchange sub-sector through the interbank for invisible items and the 30 to 60 days forwards market for the real sector.

2016 Hajj: Presidency Explains Dollar Subsidy For Muslims

The Central Bank of Nigeria with the approval of the Presidency subsidized the dollar for Muslims partaking in the 2016 Hajj, mandating that the dollar be sold at N197 for those who needed it.

Cheques Can now be Paid Into Savings Account- CBN

The Central Bank of Nigeria yesterday announced that cheques can now be paid into savings accounts.