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…
CBN
Nigeria’s FX reserves shrink linked to debt repayments – CBN
The Central Bank of Nigeria has thrown more light on the reasons for the notable decline in the nation’s foreign exchange reserve,…
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…
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.…
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…
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…
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,…
Nigerian banks, others borrowed N30.45tn from CBN in Q1 2024 – Report
Nigerian banks and merchant banks in the first quarter of this year, borrowed a sum of N30.45 trillion from the Central Bank…
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…
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…
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…
CBN clears all ‘valid’ FX backlog
The Central Bank of Nigeria has officially confirmed the settlement of all valid foreign exchange backlogs totaling $7 billion, fulfilling a significant…