In the span of 10 months, a total of $850.42 million was spent on foreign debt service, marking a significant increase of 38 percent compared to the $2.22 billion spent in 2022. Analysing the monthly breakdown of debt service payments,…
The Coalition of Civil Society Organisations has cautioned some activists against misusing protests for personal gains against public institutions. The Co-convener of the group, Mr Declan Ihekaire made this known at a news conference on Tuesday in Lagos. Ihekaire said…
Data released by the Central Bank of Nigeria (CBN) has revealed a notable spike in currency outside the banks during the month of November 2023, reaching unprecedented levels based on historical records. According to the Money and Credit Statistics data…
By Sodiq Adelakun Nigerians spent a total of $1.58 billion on health tourism, foreign education, and other personal matters in the first six months of 2023, according to data from the Central Bank of Nigeria. The data revealed that $245.68…
The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to sustain concessionary credit to private sector to cushion inflationary pressure. Delivering an address recently on the state of the economy for Q1, 2024,…
The Arewa Consultative Forum, ACF, has rejected the move by the Central Bank of Nigeria, CBN, to relocate some key departments from the Federal Capital Territory, FCT, to Lagos State. ACF also kicked against the plan to move the headquarters…
The Central Bank of Nigeria (CBN) has scheduled the first Monetary Policy Committee (MPC) meeting, under the tenure of Mr Olayemi Cardoso as governor, for Feb. 26 and Feb. 27. According to a statement by CBN’s Acting Director, Corporate Communications…
By Sodiq Adelakun Nigerians are experiencing a cash crunch as currency in circulation has surged by 21.37 percent in less than three months, according to data from the Central Bank of Nigeria (CBN). The figures show that currency in circulation…
Foreign airlines operating in Nigeria have expressed dissatisfaction with the initial $61 million payment made by the federal government to address the $800 million in revenue owed to international carriers stuck in the country. The airlines described the amount as…
By Sodiq Adelakun In a move to decongest its head office and enhance productivity, the Central Bank of Nigeria (CBN) has announced plans to transfer some of its departments to Lagos State. An internal memo released on Saturday outlined the…
