Paper currency will soon be out of circulation -CBN official
The Central Bank of Nigeria has said that paper currency will soon be out of circulation, urging market men and women to…
Central Bank of Nigeria
CBN issues open banking guidelines to enhance competition
The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance competition and…
Banking sector remains resilient, says CBN
The Nigerian banking sector remained resilient in February, according to a report released by the Central Bank of Nigeria. The CBN disclosed…
BDC operators demand new forex window
The Association of Bureaux De Change Operators of Nigeria has called on the Central Bank of Nigeria to establish BDCs’ Autonomous Foreign…
Agric imports reach N2.7tn despite N129bn intervention loans
Despite spending no less than N129.084bn on agriculture loans to farmers, Nigeria’s agricultural imports continued to take an upward trajectory, hitting N2.7tn…
Bank loans to govt rise to N16.32tn – CBN
The total net credit by the Nigerian banking sector to the government rose by N2.2tn in the first quarter ended March 2022…
Forex remittances crash by 48% amid dollar shortage – CBN report
The country’s total direct remittances dropped by $119.4m to $130.12m as of January 2022 from $249.52m as of December 2021, figures obtained…
Power firms owe banks N861.14bn amid electricity crisis
THE debt owed to Nigerian banks by operators in the power sector rose by 12.83 per cent in one year to N861.14bn…
External reserves fall by $196m in eight days
Nigeria’s external reserves fell slightly by $196m in eight days to $39.62bn as of April 28, according to figures obtained from the…
Blackout hits CBN, army headquarters, others
The headquarters of the Central Bank of Nigeria, the Nigerian Army as well as the Federal Ministry of Finance, among others, suffered…
Economic crisis worsens as forex inflows fall by $9.58bn
Foreign exchange inflows into the economy declined in the fourth quarter of 2021, owing to lower receipts from the Central Bank of…
Manufacturers borrow N1.03tn from banks, debts hit N4.2tn
Operators in the nation’s manufacturing sector saw their combined debt to Nigerian banks rise to N4.19tn in January 2022. This is as…