• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 29, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

CBN Forex Interventions Hit $17bn In 2022

by Bukola Idowu
2 years ago
in Business
CBN
Share on WhatsAppShare on FacebookShare on XTelegram

The Central Bank of Nigeria(CBN), last year, sold $17.81 billion in its interventions at the inter-bank foreign exchange market in a bid to ease demand pressure and promote exchange rate stability in the country.

Advertisement

This is according to figures in its Financial Markets Department Annual Activity for 2022.

Demand pressure at the official market had extended to the black market where the value of the naira had depreciated to near N900 last year, despite the official rate hovering around N450 to the dollar.

CBN’s interventions at the interbank end of the foreign exchange market had resulted in total sales of $17.81 billion which comprised spot sales of $7.11 billion and forward sales of $10.69 billion.

Within the spot sales, the apex bank facilitated $2.46 billion at the Nigerian Autonomous Foreign Exchange (NAFEX) window, $1.42 billion at the inter-bank market, $1.59 billion for Small and Medium Enterprises (SMEs), and $1.62 billion for invisibles.

RELATED

Federal Gov’t, IFAD Train 600 Farmers In Budgeting, Farming Techniques In Benue

We’re Making Abia Farmers Globally Visible – Agric Firm

8 minutes ago
Marginal Field Awardees: NUPRC Restates Commitment To Transparency Culture

Oil Prices Plunge 6% As Middle East Ceasefire Eases Supply Fears

4 hours ago

Additionally, CBN purchased $2.17 billion in the inter-bank market, resulting in net sales of $15.64 billion. In 2021, total sales had amounted to $16.55 billion, including spot sales of $8.82 billion and forward sales of $7.73 billion. A total of $1.69 billion had been purchased in 2021 resulting in a net sale of $14.81 billion.

Also, $13.53 billion matured at the forwards segment, while $8.31 billion remained outstanding at the end of December 2022.

According to the report, the increase in foreign exchange purchases in 2022 was primarily attributed to heightened acquisitions from International Oil Companies (IOCs), reflecting their contribution to the overall volume.

At the Naira-Settled Over-the-Counter Foreign Exchange Futures market, trading reached $4.17 billion, with $5.38 billion maturing and $4.29 billion remaining outstanding at the end of December 2022. Comparatively, $6.87 billion was traded in 2021, with $20.45 billion maturing and $5.33 billion outstanding.

Meanwhile, in line with the Bi-lateral Currency Swap Agreement (BCSA) with the People’s Bank of China, the CBN sustained fortnightly auctions of the Chinese yuan (CNY) at the Retail Secondary Market Intervention Sales (SMIS) window.

In the course of 2022, CNY2,673.84 million was sold in 26 auctions, slightly lower than the previous year’s figure of CNY3,310.60 million. The total sales under the BCSA from inception to end-December 2022 reached CNY8,453.90 million.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: CBN
SendShareTweetShare
Previous Post

Abiodun, Otedola, Saraki, Otudeko, Others Honour Senbanjo

Next Post

Monthly N8000 Cash Transfer: A Movement Without Motion?

Bukola Idowu

Bukola Idowu

You May Like

Federal Gov’t, IFAD Train 600 Farmers In Budgeting, Farming Techniques In Benue
Agriculture

We’re Making Abia Farmers Globally Visible – Agric Firm

2025/06/29
Marginal Field Awardees: NUPRC Restates Commitment To Transparency Culture
Business

Oil Prices Plunge 6% As Middle East Ceasefire Eases Supply Fears

2025/06/29
New Afreximbank President To Restructure African Trade
Business

New Afreximbank President To Restructure African Trade

2025/06/29
Oyetola
Business

Federal Gov’t Launches Life-jacket Safety Initiative

2025/06/29
Tech Scholar To Drive Academic Vision As OAU’s New DVC
Business

Tech Scholar To Drive Academic Vision As OAU’s New DVC

2025/06/29
MONEY MARKET: Assessing Customers’ Losses To Fraudsters Through Digital Banking
Business

Cybercrime: Half Of Victims Paid Ransom In 2025

2025/06/29
Leadership Conference advertisement

LATEST

Sanwo-Olu Mourns Dantata, Sympathises With Aliko Dangote, Kano

Wike, Fubara, Amaewhule Make Public Appearance Together

NDDC Assures On Speedy Completion Of Gbaregolor-Ogulaha Road

We’re Making Abia Farmers Globally Visible – Agric Firm

FG Engages Stakeholders On Private Sector Growth, Business Reforms

Akwa Ibom Begins Clamp Down On Illegal Miners

SDP Will Not Form Alliance For 2027– Eluwa

Ohanaeze Urges Tinubu To Deploy Diplomacy For Kanu’s Release

President Federation Cup: Kwara United’s Victory Excites Gov AbdulRazaq

Tinubu, Abbas Bag Teachers’ Awards For Educational Transformation

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.