Isaac Okorafor

Nigeria’s Central Bank Moves On Forex To Boost Economy

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Nigeria’s central bank has made moves to strengthen the naira currency to boost domestic manufacturing and lift the economy out of recession caused by the slump in global oil prices. But analysts said the measures do not go far enough and foreign investment would only return to Africa’s most populous nation once the market determines … Read more

Central Bank of Nigeria Injects $195m Into Forex Market

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The Central Bank of Nigeria (CBN) yesterday said it will inject $195 million comprising of $150 million for the wholesale auction and $45 million in the invisible segment for such items as medical fees, tuition fees, Personal Travel Allowance (PTA) and Business Travel Allowance (BTA). Confirming the foreign exchange sales, the CBN Acting Director, Corporate … Read more