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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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Naira trades at ₦1,845/€ on Easter Monday

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Tag: CBN

Natural catastrophes, conflict pose danger to countries' financial stability - Cardoso
Economy

Senate probes CBN officials over N30tn loan

By Melvin Onwubuke   The Senate has announced that, it will question some officials of the Nigeria Central Bank on how N30tn Ways and Means Loan was acquired and utilized, by the Federal Government under President Muhammadu Buhari. This was disclosed by the chairman of the senate ad-hoc committee, senator Isah Jibrin in an exclusive […]

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

CBN sells 1yr OMO bills at record 21.5%

Melvin Onwubuke The Central Bank of Nigeria sold a historical N1.056 trillion in OMO bills on Friday with the yield on the one-year bill surging to 27.3 percent as the CBN offers more, in its attempt to lure foreign portfolio inflows. CBN governor, Olayemi Cardoso had on Thursday, promised the rate would trend higher, at […]

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

FX debt: CBN owes just five banks, says Cardoso

With the exception of five banks, foreign exchange backlogs have been resolved, according to Olayemi Cardoso, Governor of the Central Bank of Nigeria. According to The PUNCH, Cardoso made this announcement on Thursday during an investor call that was organized by the Nigerian Exchange Group. He also promised to resolve the remaining foreign exchange backlogs […]

New expatriate levy sparks concerns over regional integration
News

CPPE urges CBN to peg custom duty FX rate at N1000/$1

By Melvin Onwubuke The Centre for the Promotion of Private Enterprise has urged the Central Bank of Nigeria to take bold steps in mitigating the challenges faced by businesses and citizens, by pegging the customs duty exchange rates at N1000/$1. In a statement by Mr Muda Yusuf, Chief Executive Officer at CPPE , according to […]

Banking

CBN to meet with foreign investors today

By Alex Omenye   The Central Bank of Nigeria Governor, Yemi Cardoso, is scheduled to participate in a significant meeting with foreign portfolio investors on Wednesday, February 28, 2024. Facilitated by the Nigerian Exchange Group in collaboration with the CBN and supported by prominent financial institutions such as Standard Bank, Citi Bank, J.P. Morgan, and […]

Banking

CBN prepares tough financial sanction for banks

In order to lower violations in the nation’s financial sector, the governor of the Central Bank of Nigeria, Olayemi Cardoso, has committed to pursue an aggressive regulatory environment. Cardoso made the disclosure at the first meeting of the Apex bank’s Monetary Policy Committee after taking office in September 2023, he made this statement on Tuesday […]

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

CBN pledges to recover N10tn intervention loans

The Central Bank of Nigeria, which continues to stand by its previous position of withdrawing direct development funding, has pledged to retrieve all of the over N10 trillion in intervention loans it has issued to various economic sectors. According to BusinessDay, in addition to delivering the results of the two-day meeting of the Monetary Policy […]

Former CBN employees sue for reinstatement, compensation
Tech

CBN clears $400m FX backlog

Melvin Onwubuke The Central Bank of Nigeria has announced it has cleared the backlog of verified, genuine, forward requests of $400 million. This was disclosed on Tuesday, by the CBN Governor, Yemi Cardoso during a media briefing after a two-day MPC meeting, where the MPR was raised by 400 basis points to 22.75 per cent […]

CBN gov Cardoso vows crackdown on illicit funds via Binance
Economy

CBN gov Cardoso vows crackdown on illicit funds via Binance

The Governor of the Central Bank, Yemi Cardoso, has restated the government’s determination to monitor and put a stop to the illicit flow of funds impacting the economy through various entities. Addressing the Monetary Policy Committee meeting, Cardoso mentioned that the CBN is collaborating with the National Security Adviser and other security agencies to trace […]

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

CBN resumes sales of FX to BDC operators

The Central Bank of Nigeria has made a firm decision to close the growing exchange rate difference in an effort to address the enduring inefficiencies in the retail sector of Nigeria’s foreign currency market. According to The Times, the Director of Trade & Exchange Department, Dr. Hassan Mahmud, released a fresh circular on behalf of […]