Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Atiku, Mark, Lamido, Ikimi Hold Crucial Meeting In Abuja

    July 1, 2025

    Ibadan Poly Students Protest Renaming Of Institution After Olunloyo

    July 1, 2025

    Saudi Club, Al Hilal Eliminates Man City In Club World Cup Thriller

    July 1, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Atiku, Mark, Lamido, Ikimi Hold Crucial Meeting In Abuja
    • Ibadan Poly Students Protest Renaming Of Institution After Olunloyo
    • Saudi Club, Al Hilal Eliminates Man City In Club World Cup Thriller
    • 2027: I Will Comply With One Term Agreement, Peter Obi Tells Supporters
    • FirstBank Launches Advanced Facial Recognition On Mobile App
    • Presidency to Obi: Tinubu Not In Saint Lucia For Vacation
    • Kano Governor Leads Delegation To Saudi For Dantata’s Burial
    • Ganduje Resigns As APC National Chairman
    Facebook X (Twitter) Instagram
    TheScrutinyNG
    Subscribe
    Wednesday, July 2
    • Home
    • Politics
    • Business
    • News
      • World News
    • Sports
    • Interviews
    • Opinion
    • Entertainment
    • Columnists
    • ABOUT US
    TheScrutinyNG
    Home » CBN Disburses $148M To Stabilize Naira Amidst Continued Depreciation
    1 Min ReadJuly 26, 2024

    CBN Disburses $148M To Stabilize Naira Amidst Continued Depreciation

    By Amina MohammedJuly 26, 2024No Comments1 Min Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Central Bank of Nigeria has disbursed $148m to 29 authorised dealers as part of steps to stabilise the foreign exchange market amidst the recent free fall of the naira.

    A statement posted on the apex bank’s website on Friday noted that the sales were made to the dealers on Monday, July 22 and Tuesday, July 23, 2024, between an exchange rate of N1470.00/$1 and N1510.00/$1.

    This development comes two weeks after the CBN sold $122.67 million to 46 authorised dealers in a move aimed at promoting market stability and reducing volatility.

    A week ago, it also announced that $20,000 is to be sold to each BDC at the rate of N1,450/$1.

    Despite this move, the naira has depreciated against the US dollars, trading above N1,600 on Thursday at the official market.

    The statement read, “The Central Bank of Nigeria sold a cumulative sum of US S148,000,000.00 in the Nigerian Foreign Exchange market to authorised dealers on July 22 and 23, 2024.

    “The sale of foreign exchange was to 29 authorised dealer banks at an exchange rate of 1470.00/US$1-1510.00/US$1.”

    Author

    • Amina Mohammed
      Amina Mohammed

      View all posts
    CBN Dollar Naira
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Amina Mohammed

    Related Posts

    Banking & Finance

    FirstBank Launches Advanced Facial Recognition On Mobile App

    June 30, 2025
    Breaking News

    Tinubu Signs Four Landmark Tax Reform Bills Into Law

    June 26, 2025
    Breaking News

    Multichoice Slashes DStv Decoder Price By 50 Percent

    June 25, 2025
    Aviation

    FCCPC Invites Air Peace Over Failure To Refund Fares For Canceled Flights

    June 16, 2025
    Business

    May & Baker Posts N28.9bn Revenue, N1.6bn PAT

    June 6, 2025
    Economy

    POS Fraud Surge: Ubani Demands Crackdown to Save Nigeria’s Financial System

    June 4, 2025

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Editor's Picks

    Atiku, Mark, Lamido, Ikimi Hold Crucial Meeting In Abuja

    July 1, 2025

    Ibadan Poly Students Protest Renaming Of Institution After Olunloyo

    July 1, 2025

    Saudi Club, Al Hilal Eliminates Man City In Club World Cup Thriller

    July 1, 2025

    2027: I Will Comply With One Term Agreement, Peter Obi Tells Supporters

    June 30, 2025
    Latest Posts
    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 The Scrutiny. Designed by Design Streams.

    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.