• By Kunle Awosiyan
    In
    Apr 13, 2017
    0 Comments
    Godwin Emefiele

    The Central Bank of Nigeria has released additional $250 million on seven to 30-day forwards for agriculture, airlines, petroleum products and raw materials.
     
    The apex bank also called for bids for wholesale spot for $100m for basic and personal travel allowances, medicals and tuition fees.
     
    The Acting Director, Corporate Communications Department, CBN,. Isaac Okorafor said in a statement that the apex bank had also commenced heavy injection of forex into the spot market.

    In another development, ahead of the Nigeria Bureau of Statistics inflation report this week ,an expert is forecasting a further decline  in the rate  for the second time running to 16.4 percent.
     
    The nations current inflation rates stands at 18.7 percent.
     
    Femi Awoyemi, .an economist  attributes his position to the further waning of the 2016 base effects.
     
    He says ,the effect of the CBN's dollar intervention in the month of February and March forced the naira to appreciate and fed mildly into retail prices.

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