The Central Bank of Nigeria (CBN) has injected 210 million dollars into the various segments of the market to sustain its intervention in the Inter-Bank Foreign Exchange Market.

The CBN Director, Corporate Communications, Mr Isaac Okorafor made this known in a statement on Tuesday in Abuja.

Mr Okorafor revealed that the apex bank offered 100 million dollars as wholesale interventions and allocated 55 million dollars to Small and Medium Enterprises (SMEs).

He further said that another 55 million dollars was allocated to customers requiring foreign exchange for business and personal travels, tuition or medical fees.

The director explained that the Tuesday’s interventions were in continuation of the bank’s resolve to sustain the high level of stability in the foreign exchange market.

According to him, it is also to continue to ease access to the currency by customers in different sectors.

Okorafor said the CBN was optimistic that the Naira would sustain its run against the dollar and other major currencies around the world, considering the level of transparency in the market.

SOURCE: https://www.trendingaccounting.com/2019/02/cbn-injects-210m-into-foreign-exchange.html

This is type of news I love to see...

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Buharieconomics and fire brigade approach are like bread and butter.
Say no to cluelessness and hopelessness

election is around....
Buhari is going back to daura

Yahoo Yahoo Buhari have injected almost $10billion dollars into the Forex market still the exchange rate remain $1 =N365.

my Tbils was fetching me average of 20k monthly. my useless friend go advise me to buy dollars say election don come. omo i have lost 3 naira per dollar since. CBN una dey fuk up defending the naira. let it operate at market rate jor

Great

Abeg Make Dollar No FALL ooooooooooooo

Joromi12:
my Tbils was fetching me average of 20k monthly. my useless friend go advise me to buy dollars say election don come. omo i have lost 3 naira per dollar since. CBN una dey fuk up defending the naira. let it operate at market rate jor

Lol... People dey pray make Naira stable, this one dey pray make e fall for selfish reasons...

Meanwhile, this happens to be the first election in Nigeria's recent history where the value of the Naira didnt drop. And that's because this election isnt as monetised (in dollar terms) as all the elections Nigeria has had in the recent past. So you cant blame your 'useless' friend, he was right about dollar typically rising during elections.

Issokay
check signature

...foreign market abi...into election vote buying.....?

Injection wey pass prick

vengertime:
Yahoo Yahoo Buhari have injected almost $10billion dollars into the Forex market still the exchange rate remain $1 =N365.

The CBN is intentionally fixing the Naira at that N365/$ for reason. If it wanted, it could easily inject this $200m twice a week, every week as was the case in the past and the Naira can easily rise back to N200/$. But to what benefit?... for Nigeria to return to the days of importing everything cheaply?

obailala:
The CBN is intentionally fixing the Naira at that N350/$ for reason. If it wanted, it could easily inject this $200m twice a week, every week as was the case in the past and the Naira can easily rise back to N200/$. But to what benefit?... for Nigeria to return to the days of importing everything cheaply?

You understand economics.

The question to ask is what impact is this injection having on our foreign reserve. Within Jan 2019 to date, we have injected $210m thrice and it will still continue till after election. I hope the government has plains to cushion the effect

Emefiele is running the CBN like a mafia gang tin. He's the lord and his own president. Nobody is checking his excesses. Doing as he likes. Releasing the same recycle $210m into fx market everytime is a scam

Joromi12:
my Tbils was fetching me average of 20k monthly. my useless friend go advise me to buy dollars say election don come. omo i have lost 3 naira per dollar since. CBN una dey fuk up defending the naira. let it operate at market rate jor

How much did you invest in TBills that gives you 20k monthly? I also wanna learn about it.

Good to know only experts are in discussion here.

JJC like me will like to learn from economic experts here instead of trolling and hate comments.

I wish say nairaland go just dey like this,where experts in certain fields gets to comment on some designated issues.

I do not have any money. In fact since yesterday I have been drinking garri severally but I am still hoping for better days

One of the reasons i'm optimistic about the future is my knowledge about forex. Although I do not have funds required to trade forex on a real account, I have applied that knowledge into trading on a demo and I have been very profitable for several months now

If there's anyone out there who has the funds but do not know how to trade. Why not invest in me and let's help each other out?
I can make u a 100k monthly with a 300k investment
50k monthly with a 150k investment etc

Feel free to visit me at home if that's what it takes to convince you I'm real

Anyway have a nice day. Oh and if anyone could please help me with 2k for survival I'll appreciate it

Thanks

Purej:
Emefiele is running the CBN like a mafia gang tin. He's the lord and his own president. Nobody is checking his excesses. Doing as he likes. Releasing the same recycle $210m into fx market everytime is a scam

The dollars are gotten from the sales Nigeria make from the sales of oil...

It's just like keeping the economy and forex market on life support

mentro:

How much did you invest in TBills that gives you 20k monthly? I also wanna learn about it.

Sounds too fishy, Tbills don't pay monthly but based on the duration, 91 days, 185 days and one year


*sorry if any figure is slightly wrong.

obailala:
The CBN is intentionally fixing the Naira at that N365/$ for reason. If it wanted, it could easily inject this $200m twice a week, every week as was the case in the past and the Naira can easily rise back to N200/$. But to what benefit?... for Nigeria to return to the days of importing everything cheaply?

Yep... Actually the plan was to make Nigeria an export country, I believe thats what Buhari wants in the agricultural sector that's why his invest in rails to easily transport goods from the north to the south.

But Nigerians are not understanding it

obailala:
The CBN is intentionally fixing the Naira at that N365/$ for reason. If it wanted, it could easily inject this $200m twice a week, every week as was the case in the past and the Naira can easily rise back to N200/$. But to what benefit?... for Nigeria to return to the days of importing everything cheaply?

You are correct

obailala:
The CBN is intentionally fixing the Naira at that N365/$ for reason. If it wanted, it could easily inject this $200m twice a week, every week as was the case in the past and the Naira can easily rise back to N200/$. But to what benefit?... for Nigeria to return to the days of importing everything cheaply?

Correct

Purej:
Emefiele is running the CBN like a mafia gang tin. He's the lord and his own president. Nobody is checking his excesses. Doing as he likes. Releasing the same recycle $210m into fx market everytime is a scam

there is no scam, that is how the naira has always been kept relatively stable, these injection keeps it a abt 360 to a dollar, if it is done more frequently it will go down to abt 200, if the CBN doesnt do it, it may get towards N800 to a $.

The CBN is keeping it at this rate because it helps them grow our reserve and forces the economy into manufacturing instead of importation.

Billions moving around but nobody is feeling it.... Do all thing possible to be very rich and connected

wamiikechukwu:



Sounds too fishy, Tbills don't pay monthly but based on the duration, 91 days, 185 days and one year


*sorry if any figure is slightly wrong.

Oh OK, thanks. Can you make me understand TBills better?

mentro:

Oh OK, thanks. Can you make me understand TBills better?

Read this : https://www.360forextrader.com/how-to-invest-in-treasury-bill-in-nigeria/

mentro:

How much did you invest in TBills that gives you 20k monthly? I also wanna learn about it.

around 2m

wamiikechukwu:



Sounds too fishy, Tbills don't pay monthly but based on the duration, 91 days, 185 days and one year


*sorry if any figure is slightly wrong.

91 days /3 is what used that for simplicity, after all na upfront interest. if i get 60k for 91 days, no be 20k monthly be that