Banks to deposit excess FX in CBN Lagos, Abuja offices
The Central Bank of Nigeria on Friday published updated guidelines for Deposit Money Banks to deposit surplus foreign currency notes at its…
Economy
FG raises N284b in treasury bills auction
The Federal Government, through the Central Bank of Nigeria, raised a total of N284.26 billion in the latest Nigerian Treasury Bill auction.…
CBN stops FX price verification portal for importers
The Central Bank of Nigeria has announced that the foreign exchange price verification system portal used by importers will be discontinued from…
Administration will continue strategic reforms to address economic challenges – Tinubu
President Bola Tinubu has declared that his administration will continue to pursue its proposed strategic reforms and actions to solve the country’s…
Nigeria’s inflation to decrease to 29.5% by 2024 year-end – PwC
Nigeria’s inflation is expected to slightly decrease to 29.5% by the end of this year, according to consulting firm PwC. This was…
Petrol price surges 223% to ₦770/litre — NBS
The average price of Premium Motor Spirit, also known as petrol, surged 223.21 per cent, reaching about ₦770 per litre in May…
Nigeria inflation hits 33.69% in April 2024 – NBS
The National Bureau of Statistics has said the headline inflation increased to an all-time high of 33.69 % in April 2024. This…
Interest rates may stay high, says Cardoso
The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that the members of the Monetary Policy Committee would…
CBN impose 0.5% Cybersecurity Levy on electronic transfers
The Central Bank of Nigeria has directed the banks in the country to start charging a 0.5 per cent cybersecurity levy on…
CBN gov blames huge palliatives purchase for food price hike
The Governor of Central Bank of Nigeria, Olayemi Cardoso has said that government purchases of palliatives are a contributing factor to rising…
FG borrows additional N3.8trn from CBN in six months
The Federal Government in what appears to be Ways and Means has received an additional N3.8 trillion in the last six months.…
Price of rice crashes by over 20% in major markets
The price of rice has fallen by 20-30% within two months on major markets, amid rising food price inflation in Nigeria. This…