The apex bank stopped the RT200 programme and the naira4dollar remittance scheme effective 30 June
According to the press statement signed by the Director of Financial Markets, Angela Sere-Ejembi, the bank abolished the segmentation of the FX market into different windows.
“All transactions will now be done through the Investors and Exporters window, where the exchange rate will be determined by market forces. Applications for medicals, school fees, BTA/PTA, and SMEs would continue to be processed through deposit money banks,” it said. PREMIUM TIMES reported earlier on Wednesday that Naira weakened significantly against the United States dollar at the Investors and Exporters window asReports claimed that the CBN directed banks to remove the cap on the investors’ and exporters’ window of the forex market to allow for the free float of the naira exchange rate.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigerian stocks hit 15-year high on suspension of CBN governorYear to date, the index has returned 13.5 per cent.
Read more »
Nigeria bled under Emefiele as CBN governor - Economic expertsEconomic stakeholders said the country's economy suffered due to wrong policies of the suspended Governor of the Central Bank of Nigeria, Godwin Emefiele.
Read more »
BREAKING: Naira hits N755/$ at I&E window as CBN directs banks to trade freely | TheCableThe naira is currently trading at N750-N755 per dollar at the investors and exporters (I&E) window on Wednesday.
Read more »
CBN floats naira at investors’ forex window - Punch NewspapersThe Central Bank of Nigeria has reportedly directed Deposit Money Banks to remove the rate cap on the naira at the Investors and Exporters’
Read more »