CBN raises interest rate to 26.75%
The Central Bank of Nigeria Monetary Policy Committee has increased the interest rate from 26.25% to 26.75%, a 50 basis point increase.…
CBN
FX inflow via IMTOs reach $1.07bn in three months – CBN
Foreign exchange inflows from International Money Transfer Operators increased by 38.86 per cent to $1.07bn in the first quarter of 2024, from…
CBN predicts slight decline in external reserve
The Central Bank of Nigeria has predicted that in 2024, the country’s foreign reserves may decline slightly, due to debt repayment and…
CBN approves $20,000 to each BDC at N1,450/$1
The Central Bank of Nigeria has declared that it has approved the sales of foreign exchange to qualified Bureau De Change to…
CBN persists higher interest rates if inflation persist – Cardoso
The Governor of the Central Bank of Nigeria Yemi Cardoso, has stated that sustained inflation could lengthen the duration of monetary tightening…
Banks’ loans to private sector reach N375tn – CBN
The Central Bank of Nigeria reported that Nigerian banks’ loans and support for the private sector totaled approximately N375.78 trillion in the…
Why CBN snubbed BDC operators in $123m FX sale
Bureau De Change Operators were excluded from the Central Bank of Nigeria’s latest batch of currency sales to licensed dealers. This disclosure…
CBN boost the FX market with $122.67m sales to BDCs
The Central Bank of Nigeria has made an important step towards stabilizing the foreign exchange market by selling $122.67 million to 46…
Nigeria addressing consequences of N27tn Ways and Means — Cardoso
The governor of the Central Bank of Nigeria, Yemi Cardoso has stated that the country is currently shouldering excesses of N27 trillion…
Nigerian cash held outside banks hits N3.71trn in May 2024
The amount of currency held outside the country’s banking system has surged to a historic high of N3.71 trillion as of May…
Nigeria’s external reserves rise to $34.66bn, highest in 13 months
Nigeria’s overseas reserves have risen again, this time by $1.88 billion to $34.66 billion as of July 4, 2024, a thirteen-month high.…
CBN to cut down rate hikes soon – Cardoso
The Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso has declared that it will soon be able to cut down…