Sell 1 dollar at N360 - CBN orders commercial banks

The Naira traded N400 to a dollar at the black market on Wednesday in Abuja following sustained CBN intervention

In a statement by the apex bank spokesperson, Isaac Okoroafor, all customers requesting forex for their basic transport allowance and personal transport allowance, tuition and medical fees, would henceforth get it at an exchange rate not more than N360 to 1 dollar.

The Central Bank of Nigeria, on Monday, has directed banks to sell dollars at N360.

CBN gave the directive in a statement released on Monday.

Trump Approved the Keystone XL Pipeline: What's Next?
In November 2015, after years of foot-dragging, Barack Obama finally blocked the Keystone XL Pipeline. He added that he too was pleased with how promptly the Trump administration addressed the issue.

While the interbank rate close the week at N307/$, naira sustained gains at the parallel market to N378/$, widening the speculative losses and triggering further apprehension among speculators, who anticipate further losses given the continued crash of the dollar.

Okorafor said that examiners from CBN would visit banks to ensure the new rates were implemented, with immediate effect.

Previously, the bank was selling between 315 and 360, for visible and invisibles transactions, and permitting banks to sell at no more than 375 per dollar on invisible transactions.

Insider Trading at Sears Holdings Corp?
Lampert, a hedge fund manager who is also Sears's biggest investor, aims to reduce debt and pension obligations by $1.5 billion. Its Sears Domestic segment's operations consist of full-line stores, specialty stores, commercial sales and home services.

The naira has in the past week seen a geometric appreciation following interventions by the central bank.

Meanwhile, the interbank lending rates- Open Buy Back and Overnight declined by 4.8 per cent and five per cent respectively when compared to previous week's record, as they closed the week at 9.5 per cent and 10 per cent apiece. "So they're bringing the dollars out because the value is dropping", he said.

Mr. Okorafor warned that the new move by the CBN was aimed at further easing access to forex by genuine end-users, pointing out that banks were prohibited from selling foreign exchange funds meant for invisibles to Bureau De Change.

Teenager 'sexually assaulted on Facebook Live'
WGN reporters say that they have seen screenshots, which are too graphic to publish, and that police have the full video. Superintendent Eddie Johnson said that several people had viewed the video on social media but did not notify police.

Related news:

Hot News

isis-killer-beheading-video-story-top How to watch Samsung Galaxy S8 launch live stream
Mar 28, 2017 - 00:48
Comparatively, the average selling price of Apple iPhone has risen to $645 with the more expensive "Plus" models launch. If the phones can't be reused, Samsung will remove parts that can be put into other devices and reused elsewhere.

isis-killer-beheading-video-story-top Dustin Johnson's quest for WGC grand slam continues in Match Play
Mar 27, 2017 - 00:51
He now faces the burden of trying to overcome the No. 1 player in the world. "Every time I've played, I played well", he said. Mickelson finished group play in style at 3-0-0 with a 6&5 thumping of fellow American J.B.

isis-killer-beheading-video-story-top The European Union is celebrating its 60th anniversary in Rome
Mar 26, 2017 - 00:50
We will continue to shape our joint future together. We will approach the negotiations as friends. Francis exclaimed in a half-hour address.

#EarthHour2017: Filipinos shine light on climate action
Mar 26, 2017 - 00:49
It is about changing climate change and taking relevant action to mitigate climate change. The Earth Hour Kit can also be downloaded and it could be promoted in your nearby areas.

Sean Spicer Won't Deny Trump Aides' Collusion With Russian Operatives
Mar 26, 2017 - 00:45
The press secretary said the president did not have regrets about trying to pass a health care bill first instead of Republicans' other priority: tax reform.

isis-killer-beheading-video-story-top Murray will oppose, join filibuster against Gorsuch Supreme Court nomination
Mar 26, 2017 - 00:44
That rule change eliminated the possibility of a filibuster in the contexts of nominees to head agencies or to be judges. Still, we have nine Democrats who said that Gorsuch deserves a hearing and a vote.

isis-killer-beheading-video-story-top Bill Clinton attends Martin McGuinness funeral in Northern Ireland
Mar 25, 2017 - 00:47
Terence Slowey, on behalf of councillors and council management and staff, has extended his deepest sympathy to Mr. In recent years his contribution helped build on the relative peace we now enjoy.

isis-killer-beheading-video-story-top Prince William's Paris visit brings dark past to light
Mar 25, 2017 - 00:47
Kate Middleton , for her part, has done an impressive job of carrying on Princess Diana's legacy when it comes to fashion. Kate Middleton has made Paris even chicer by gracing the City of Lights in a stunning black gown.

isis-killer-beheading-video-story-top Ravindra Gaikwad's Air India assault sparks push for no-fly list
Mar 25, 2017 - 00:46
Air India cancelled the MP's return ticket for the 4.15pm flight on Friday, but he booked an IndiGo flight through an agent. The national carrier has filed two separate complaints, with the Delhi Police, against the MP.

isis-killer-beheading-video-story-top US's Tillerson to visit Turkey before North Atlantic Treaty Organisation talks
Mar 25, 2017 - 00:46
The Associated Press and Reuters obtained copies of the cable, which State Department sources verified for NBC News. Subsequently, it will be verified if the visa applicant has ever been in territory controlled by the Islamic State.

isis-killer-beheading-video-story-top "Pizzagate" DC shooter pleads guilty to weapons-related charges
Mar 25, 2017 - 00:45
Jackson told Welch that with a felony conviction, he would no longer be allowed to own a firearm. Welch faces up to 20 years in prison when he is sentenced in June.

isis-killer-beheading-video-story-top Rory McIlroy beaten by Soren Kjeldsen in opener
Mar 24, 2017 - 03:03
Scotland's Russell Knox was a 3 and 2 victor over American Bill Haas while Gary Woodland beat Emiliano Grillo 3 and 2. Spieth, at a course he knows well from his spell at the University of Texas, did not lead at any point in the match.

isis-killer-beheading-video-story-top Rihanna: Why She Refused To Watch Her 'Weird' 'Bates Motel' Sex Scene
Mar 23, 2017 - 01:49
Rihanna was interviewed by the fashion magazine where she revealed that " Bates Motel " is her favorite, and Carlton Cuse read it. I can't, I can't hear my voice. "It's, like, gross!" she cried out.

isis-killer-beheading-video-story-top London attack: Donald Trump Jr slams Sadiq Khan over terror attack comments
Mar 23, 2017 - 01:48
It comes as an attacker killed three people near the Houses of Parliament in what authorities are treating as a "terrorist incident".

isis-killer-beheading-video-story-top Didi Gregorius will miss Yankees opener, likely more time
Mar 23, 2017 - 01:46
NY could slide Starlin Castro over to shortstop, or use Ronald Torreyes or Tyler Wade to fill in while Gregorius is on the shelf. Gregorius is among a handful of major-league players to leave their WBC team because of injuries.