Why CBN’s currency swap hit $12bn despite low reserves
Fitch Ratings has reported that the Central Bank of Nigeria’s currency swaps with local banks will be worth between $10 billion and $12…
CBN
CBN, FG to assess new regulation on bank customers
The national commissioner of the Nigerian Data Protection Commission, Dr. Vincent Olatunji, revealed that the commission had established a joint committee with the…
Cash shortage: Bank debts to CBN hits N12tn
Commercial banks and merchant banks appear to be increasingly reliant on the Central Bank of Nigeria for…
External reserves drop by $915m over naira float
Nigeria’s external reserves fell by $915 million following the Central Bank of Nigeria’s formal flotation of the naira and liberalization of the…
Stanbic IBTC delays HY results, requests CBN approval
The release of Stanbic IBTC Holdings Plc’s half-year financial results has been postponed, as the company waits for the Central Bank of…
How CBN issued N38bn loan to mortgage banks in 2022 – Report
The Central Bank of Nigeria disbursed loans and advances of N37.6 billion to mortgage banks in 2022, according to the top bank’s…
FG spent N74bn on new naira, others – CBN report
The Central Bank of Nigeria and its subsidiary spent roughly N74.84 billion in 2022 on the production and distribution of currencies, including…
CBN’s exchange rate unification effort already yielding dividends – CIBN
The Chartered Institute of Bankers of Nigeria has applauded President Bola Tinubu’s efforts to stabilize Nigeria’s exchange rate and noted that the Central…
CBN denies issuing new policy on Forex
By Wilson Adekumola The Central Bank of Nigeria has debunked reports going viral on social media and other platforms over new…
Firms consider hedging as forex crisis affects performance
Many of Nigeria’s major corporations have suffered enormous losses as a result of the Central Bank of Nigeria’s devaluation of the naira.…
CBN considers new measures to stabilize naira
Kazeem Owoseni The Central Bank of Nigeria has expressed its readiness to take new measures, in stabilizing the naira against…
CBN to rename forex market amidst economic shifts
In a move to reframe the financial landscape, the acting Governor of the Central Bank of Nigeria, Folashodun Shonubi, has unveiled plans…