CBN injects $311.5m, CNY15m into Retail SMIS

Emefiele charges private sector players to float Infrastructure Bond

The Central Bank of Nigeria (CBN) has made an intervention of $311.5million in the retail Secondary Market Intervention Sales (SMIS) and CNY 15million in the spot and short-tenored forwards segment of the inter-bank foreign market.

CBN Director, Corporate Communications Department, Mr. Isaac Okorafor, confirmed the latest injection weekend, disclosing that “the dollar interventions were for customers in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

The yuan component was for payment of renminbi denominated letters of credit for agriculture as well as raw materials”.

Mr. Okorafor further said that the market continued to enjoy stability, owing to the regular interventions by the Bank, which, he said, has also guaranteed a stable exchange rate for the Naira.

He assured that the Bank’s Management would remain committed to ensuring that all the sectors of the forex market continue to enjoy access to the needed foreign exchange.

Meanwhile, $1 exchanged for N357 at the Bureau de Change (BDC) segment of the foreign exchange market, while CNY1 exchanged at N47.

Comment With Facebook

Comments (8)

  1. I just want to tell you that I am beginner to blogging and truly liked your blog. Likely I’m planning to bookmark your website . You surely have awesome articles. Appreciate it for revealing your website.

  2. I discovered your blog site on the internet and appearance a few of your early posts. Always keep inside the very good operate. I merely extra increase your Rss to my MSN News Reader. Looking for toward reading a lot more by you down the line!…

  3. Just a smiling visitant here to share the love (:, btw outstanding style .

  4. Thanks for giving your ideas. I’d also like to say that video games have been actually evolving. Better technology and improvements have assisted create practical and fun games. Most of these entertainment video games were not really sensible when the real concept was first of all being used. Just like other areas of technological innovation, video games also have had to advance via many generations. This is testimony to the fast continuing development of video games.

  5. Sapid Agency is a Search Engine Optimization company in New York City that provides SEO Services. Their proprietary SEO strategies help struggling websites and aspiring business owners to rank their websites higher in multiple search engines like Google , Yahoo and Bing. They provide local and gmb map ranking for businesses in NYC and many other local areas. Find more at

  6. I’m impressed, I have to say. Really not often do I encounter a weblog that’s both educative and entertaining, and let me let you know, you have got hit the nail on the head. Your idea is excellent; the difficulty is one thing that not enough people are speaking intelligently about. I’m very blissful that I stumbled throughout this in my seek for something regarding this.

  7. Hi there, You have done an excellent job. I’ll definitely digg it and personally suggest to my friends. I am confident they will be benefited from this site.

Comment here