CBN Injects $210m into Forex Market

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CBN Injects $210m into Forex Market

The interbank segment of the Foreign Exchange Market has received a boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded last Tuesday.

Figures obtained from the CBN indicated that authorized dealers in the wholesale segment of the market were offered the sum of $100million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million.

The sum of $55 million was allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.  Confirming the figures, the Director, Corporate Communications Department, Isaac Okorafor reaffirmed the Bank’s commitment towards ensuring stability in foreign exchange market.

It will be recalled that at the last intervention on Friday, June 7, 2019, the Bank injected the sum of $294.7million and CNY31.4million into the Retail Secondary Market Intervention Sales (SMIS) segment.

Meanwhile, the Naira on Tuesday, June 11, 2019, exchanged at an average of N360/$1 in the BDC segment of the market.


Registration for the Law Week is still ongoing and multiple registration channels have been provided by the Law Week Committee towards a seamless and hassle-free registration experience for participants.

This includes payment at the banks or through POS at the Lagos NBA branch office. Participants can also download the registration form and pay through the payment gateway indicated on the branch website.

The registration rates are below:

  • 1 – 7 years: N3,500
  • 8 – 15 years: N5,000
  • 16 – 19 years is 10,000
  • 20 years and above is N15,000
  • SANs and Benchers N25,000

Interested participants are to make their payments to the Nigerian Bar Association, Lagos Branch at Access Bank. The Account Number is 0728253326. Please return the registration form to the branch office with proof of payment.

For enquiries, please contact:
Nkem Agboti
08035739791
nagboti@gmail.com.

Uche Nwadialo
08098030060
u.nwadialo@gmail.com

Oluyemisi Iwajomo
08064112076
oiwajomo@babalakinandco.com


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