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6 Uncomplicated Ways to Get Studying Fun

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Acestea sunt semne bune că vor oferi mult

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Naira falls N777 against dollar after CBN announcement
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Investment commission pledges FDI support to improve Nigeria’s

  • March 6, 2022
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Nigeria’s gas revolution will lift West Africa’s energy

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Currency outside banks hit ₦4.6trn in March – CBN

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Tag: CBN

News

CBN sells dollars to BDCs at N1,021/$ as naira falls

The Central Bank of Nigeria has issued a circular to all Bureau De Change operators, detailing a new initiative to directly sell US dollars to BDCs at a reduced rate of N1,021 per dollar. This initiative underscores the proactive strategy of the Central Bank to manage currency volatility and to ensure the availability of essential […]

News

CBN reduces banks’ loan-deposit ratio to 50%

The Central Bank of Nigeria has reduced the loan-to-deposit ratio of commercial banks from 65 % to 50 % as part of measures to deepen its monetary tightening policy. As a result, Deposit Money Banks are now allowed to lend only 50 % of their deposits to their customers, according to The Punch. This was […]

Nigeria's FX reserves hits $32.3bn, rises by $262m
News

Nigeria’s FX reserves shrink, sparks naira float speculation

The Nigerian foreign reserves are depleting at a pace not observed in four years, sparking concerns that the central bank is using its dollar holdings to bolster the naira’s value following its commitment to allowing the currency to float more freely. Since March 18, when the naira began its recovery from record lows against the […]

News

Court grants Emefiele N50m bail

The Lagos high court in Ikeja has granted the former Central Bank of Nigeria, Godwin Emefiele, a N50 million bail on Friday. In the ruling, Judge Rahmon Oshodi granted Emefiele bail with the condition of providing two sureties for the same amount, according to The Punch. The former CBN is facing trial for accusations of […]

Aviation

Keyamo affirms airline industry’s FX backlog cleared

The Minister of Aviation and Aeronautics, Festus Keyamo said the Central Bank of Nigeria has cleared a backlog amounting to approximately $160 million for the air transport sector. This was disclosed by the Keyamo in a live appearance on Arise television on Monday. The minister noted that in Nigeria, there are two different backlogs of […]

featured

Bankers worry over 12,000 job losses

The Nigeria Labour Congress, NLC, and the Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, have raised concerns over job security among others in the new banks’ recapitalization ordered by the Central Bank of Nigeria. This follows reports of the loss of 12, 000 jobs in 2005 and 2010 as a result […]

Nigeria's external reserves rise to $36.89bn — CBN gov
Economy

Naira sells at N1262 against dollar

The naira, on Wednesday, continued its gain against the United States dollar, appreciating both at the official foreign exchange and parallel markets, to the delight of many Nigerians. At the Nigerian Autonomous Foreign Exchange Market, the naira appreciated by N16 or 1.26 per cent as the dollar was quoted at N1,262.85/$ on Wednesday, stronger than […]

Osun resubmits state's nomination for bank role, challenges CBN’s rejection
News

CBN drops exchange rate for import duties to N1303/$1

The Central Bank of Nigeria has reduced the exchange rate for customs import duties collection, marking the lowest level seen in eight weeks. The customs exchange rate window indicates a decrease in the rate for duties collection from N1405/$ to N1303.8 against the USD, according to Nairametrics. This signifies a notable decline of N102 or […]

Bankers oppose removal of retained earnings in CBN terms
Banking

Bankers oppose removal of retained earnings in CBN terms

Bankers are expressing their disapproval of the Central Bank’s decision to exclude retained earnings from the calculation of share capital in its recent recapitalization terms. The Central Bank introduced new capital thresholds for Nigerian banks, mandating international, national, and regional banks to maintain minimum share capital of N500 billion, N200 billion, and N50 billion, respectively. […]

CBN gov Cardoso vows crackdown on illicit funds via Binance
featured

CBN raises commercial banks capital base to N500bn

Nigeria’s Central Bank has raised the capital base of commercial banks with international authorisations to 500 billion Naira and of national banks to 200 billion Naira. This massive reform, which was announced on March 28, 2024, requires banks to increase their Minimum Capital Bases in a variety of ways depending on the nature of their […]