By Esther Agbo Following the hike in CBN interest rate, the Manufacturers Association of Nigeria (MAN) has warned that the new rate would further constrain the growth of the manufacturing sector, affecting consumer purchasing power, production levels, competitiveness, and sales.…
…External reserves hit 17-month high of $37bn, to boost investor confidence …Nigeria’s capital importation hits $5.92 billion …Implement fiscal policy measures to tackle inflation — CPPE to FG …Pressure on Naira represents a clear risk to Nigeria’s policy rate —…
The Centre for the Promotion of Private Enterprise (CPPE) has commended the Central Bank of Nigeria (CBN) for a moderate interest rate hike. It also called for urgent implementation of fiscal policies to stabilise the economy. Dr Muda Yusuf, Chief…
The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark lending rate to 26.75 per cent. The hike in the Monetary Policy Rate was disclosed by the Governor of the CBN, Olayemi Cardoso, at the end…
The Central Bank of Nigeria (CBN) has reported a 39 percent increase in inflows through International Money Transfer Operators (IMTOs) for the first quarter of 2024 compared to the same period in 2023. This is according to data from the…
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has stated that the country’s external reserve has increased to $36.89 billion as of July, 16 2024. CBN Governor, Mr. Olayemi Cardoso, made this statement during an…
The Central Bank of Nigeria (CBN) has implemented stricter regulations for managing dormant accounts and unclaimed financial assets in banks and other financial institutions. These new guidelines, effective immediately, supersede previous policies issued in 2015. This is made known in…
The Central Bank of Nigeria (CBN) says it has commenced regular sale of foreign exchange (fx) through authorised dealer banks and licensed Bureaux De Change (BDCs) to bridge gap. The Director, Financial Markets Department, CBN, Ms Omolara Duke, said this…
The Central Bank of Nigeria (CBN) said in Abuja on Friday that its monetary policies and actions have stimulated growth and stability of the nation’s economy. CBN Governor, Mr. Olayemi Cardoso, said this during an engagement with Senate Committee on…
The Central Bank of Nigeria’s sale of foreign currencies to legible Bureau De Change operators gulped $110.81 million from February to July 18, 2024, amid measures implemented to defend the Naira. This is according to CBN circulars on the release…
