CBN raises Interest rate to 27.50%
The Central Bank of Nigeria has raised its Monetary Policy Rate by 25 basis points, bringing it to 27.50% from 27.25%. This…
CBN
CBN grants six-month extension for BDCs recapitalisation
The Central Bank of Nigeria has extended the deadline for Bureaux De Change operators to meet recapitalisation requirements by six months, according…
CBN to raise interest rate, analysts predict
The Monetary Policy Committee of the Central Bank of Nigeria is expected to maintain its hawkish stance in response to persistent inflationary…
28m Nigerians lack access to formal financial services – CBN
The Central Bank of Nigeria announced on Tuesday that despite a significant reduction in the country’s financial exclusion rate, from 46.3% in…
Oil imports fall by 35% in Q2 – CBN
Nigeria’s oil imports saw a significant decline of 35% in the second quarter of 2024, totaling $2.79 billion, down from $4.31 billion…
CBN unveils guidelines for FX deposit scheme
The Central Bank of Nigeria has released official guidelines for banks on the implementation of the free foreign exchange deposit window recently…
Avoid forex auction interventions, W’Bank advises CBN
The Central Bank of Nigeria has been advised against intervening in the foreign exchange market through forex auctions. The World Bank’s policy…
IFC, CBN partner to boost local currency financing
The International Finance Corporation has partnered with the Central Bank of Nigeria to enhance local currency financing, supporting the growth of private…
CBN optimistic of securing $12bn in diaspora remittances
The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, announced in Washington DC that the CBN is optimistic about attracting…
Old naira notes remain legal tender beyond 2024 – CBN
The Central Bank of Nigeria has addressed concerns regarding the old series of N200, N500, and N1000 banknotes, stating that they will…
Reps calls for gradual withdrawal of old naira notes
The House of Representatives has urged the Central Bank of Nigeria to begin a gradual withdrawal of old naira notes while introducing…
CBN disburses N1.73tn for food imports in six months
The Central Bank of Nigeria in the second quarter of 2024 allocated $547.7 million (N823.19 billion at the official exchange rate of…