The Central Bank of Nigeria (CBN) has concluded a sale of government securities, issuing N1.053 trillion in short-term instruments as part of its liquidity management exercise. The CBN offered N500 billion at the Open Market Operations (OMO) auction and oversubscribed,…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has announced a reduction in the exchange rate for computing Customs duties at the nation’s seaports. This decision comes just 24 hours after the apex bank had raised the rate by…
…As CBN raises benchmark interest rate to record 22.75% …Forensic analysis fingers $2.4bn false FX claims The Governor of the Central Bank of Nigeria (CBN) has explained that an estimated sum of N10 trillion naira interventions funded by the CBN…
Transactions on the stock market closed negative on Tuesday for the second day, depreciating further by 1.38 percent in reaction to the outcome of the Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN). Recall that CBN,…
The Central Bank of Nigeria (CBN) on Tuesday approved allocation of 20,000 dollars to all eligible Bureau De Change (BDC) operators across the country as part of its on-going reforms. Dr Hassan Mahmud, Director, Trade and Exchange Department, CBN, in…
The Central Bank of Nigeria (CBN) on Tuesday disclosed that it has cleared an additional $400 million forex backlog. The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso made this known while speaking at the apex Bank inaugural…
By Matthew Denis, Abuja The Central Bank of Nigeria (CBN) has raised the monetary policy rate by 400 basis points to a record 22.75 per cent from 18.5 per cent. The CBN held its inaugural Monetary Policy Committee (MPC) meeting…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) is set to hold its first Monetary Policy Committee (MPC) meeting under the leadership of Yemi Cardoso as Governor on Monday and Tuesday. Economic experts are predicting that the benchmark interest…
By Seun Ibiyemi, Lagos and Mathew Dennis, Abuja Economic experts have projected a hike and tightening of the benchmark interest rate known as the Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) ahead of their inaugural meeting of…
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE), has urged the Central Bank of Nigeria (CBN) to peg the customs duty exchange rate at N1000 per dollar for the rest of the year. Its Founder, Dr…
