collected by :kiven Dixter
Former Edo state governor Adams Oshiomhole and ex-Central Bank of Nigeria (CBN) governor have publicly disagreed over how the Nigerian economy is being managed.
Adams made the point about exchange rate and exchange allocation to two banks.
He added: “Every bid produced a different exchange rate and there were different winners at every bid.
Oshiomhole says Soludo does not have any leg to stand on with his economic arguments because he also failed the system when he was CBN governor.
“And I asked Prof (Soludo), if you were going to devalue by Friday, why did you auction dollar at a lower rate on Thursday?
as mentioned in
Emefiele, CBN GOV, warns ‘We will ensure forex speculators lose money’
Emefiele stated this while receiving the Vanguard Newspaper Personality of the Year Award at a colourful event held in Lagos.
By Emeka Anaeto, Babajide Komolafe and Peter EgwuatuGovernor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday, attributed the pressures on exchange rate in the parallel market to illegal and criminal activities of some individuals.
Even if one were to allow for risk pricing and other uncertainties, it does appear that there is no basis in our economic fundamentals to support the prevailing exchange rate at the parallel market.
The bank must also provide a signiûcant amount for reliable electricity and broadband Internet services to keep its systems running.
As I have hinted in previous paragraphs, this policy was basically borne out of necessity to conserve foreign exchange.
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CBN maintains forex supply to market
Thursday’s injection by the CBN takes the amount so far offered in the interbank forex market within the past few weeks to over $1.2billion for both wholesale and retail interventions.
It will be recalled that the CBN only on Tuesday, March 7, 2017, injected another sum of $100m into the interbank foreign exchange market in its resolve to ease the challenge of access to foreign exchange by genuine customers.
These are all in a bid to sustain the tempo of foreign exchange supply to the interbank FOREX market and ensure liquidity,Disclosing this to newsmen on Thursday, CBN Acting Director, Corporate Communications, Isaac Okorafor, said the Bank remained resolute in ensuring that it supplies enough forex to genuine customers of Deposit Money Banks and increase liquidity in the market.
AS more customers of banks and other business people overcome the earlier difficulties in obtaining forex for their transactions, the Central Bank of Nigeria (CBN) on Thursday, offered the sum of $100,000,000 as wholesale interventions.
With this development, importers who had hitherto been using bills for collection will now experience relief instead of having to patronize other more expensive sources.