18 november 2016 cbn bdc news

Here are the news headlines from the Central Bank of Nigeria (CBN) and Bankers' Committee (BDC) on November 18, 2016:

CBN News

  1. CBN Injects $250m into Foreign Exchange Market: The CBN injected $250 million into the foreign exchange market to boost liquidity and stabilize the naira.
  2. Naira Appreciates against Dollar: The naira appreciated against the dollar, closing at N305.50 to the dollar, from N306.50 previously.
  3. CBN to Introduce New Guidelines for Foreign Exchange Operations: The CBN announced plans to introduce new guidelines for foreign exchange operations to ensure transparency and accountability in the market.

BDC News

  1. BDCs to Operate with New Guidelines: The BDCs were directed to operate with new guidelines, which include the requirement to maintain a minimum capital base of N10 million and to operate with a minimum of 10% of their total transactions in the interbank market.
  2. BDCs to Pay 1% Commission on Interbank Transactions: BDCs were directed to pay a 1% commission on interbank transactions, which is expected to reduce the cost of transactions and increase liquidity in the market.
  3. BDCs to Maintain Cash Reserve Ratio: BDCs were directed to maintain a cash reserve ratio of 10% to ensure that they have sufficient liquidity to meet the demands of their customers.

These news headlines were reported by various Nigerian news outlets, including Vanguard, Punch, and ThisDay, on November 18, 2016.