• CBN releases new guidelines on foreign investment inflows

    CBN releases new guidelines on foreign investment inflows

    Non-Nigerians are now free to invest in short-term debts and securities.

    The Central Bank of Nigeria (CBN) yesterday rolled out new foreign investment inflow guidelines targeted at portfolio investors.

    The guidelines, announced by CBN Acting Director, Trade and Exchange Department, W.D. Gotring, throws the field open to foreigners to invest in Treasury Bills (T-Bills), Federal Government Bonds, certificates of deposit, commercial paper, bankers’ acceptances, and repurchase agreements.

    These instruments have maturities ranging from one day to one year and are extremely liquid.

    The CBN […]

  • Forex market records unprecedented inflow, as exchange rate moderates at N305/$

    Forex market records unprecedented inflow, as exchange rate moderates at N305/$

    Pressure on foreign exchange rate eased, yesterday, as the interbank market recorded an unprecedented inflow of USD327 million with a single transaction of USD270 million by foreign investors.

    This development drove interbank rate down to N305.5/ USD1, from last Friday’s closing rate of N314.95/ USD1.

    Governor, Central Bank of Nigeria (CBN), Mr Godwin EmefieleGovernor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele

    Bank treasurers said the development came as foreign investors lined up to buy local currency bonds in response to the attractive […]