…Accuse banks of hoarding FX to increase profits By Sodiq Adelakun In response to the ongoing depreciation of the Naira, the Central Bank of Nigeria (CBN) has taken a decisive step to stem the tide of currency speculation and hoarding…
…As Cardoso pledges to work with stakeholders to boost forex market liquidity The Central Bank of Nigeria (CBN) has successfully completed the payment of all verified claims to foreign airlines, disbursing an additional $64.44 million to alleviate the backlog of…
On Friday, at least 1,500 employees of the Central Bank of Nigeria will begin work at its Lagos office after being redeployed from the headquarters. Despite facing criticism, the plan is still moving forward, according to a source at the…
By Matthew Denis As the world marks 2024 World Neglected Tropical Diseases (NTD), Day, the World health Organization (WHO), Regional Director Matshidiso Moeti has urged for Global Unity, Action, and Elimination of Neglected Tropical Diseases. Speaking to commemorate this years…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has taken decisive action to alleviate the persistent backlog of confirmed foreign exchange (forex) transactions by introducing an additional $500 million into the market. This strategic move follows closely on the…
The Central Bank of Nigeria, CBN, has announced that it is injecting another $500 million to clear the foreign exchange backlog. Hakama Sidi Ali, Acting Director of the Corporate Communications Department at the CBN, made this known in Abuja on…
The Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, has declared that the apex bank is set to wield a rod of discipline to ensure adherence to regulations in the forex market and also tame inflation. The CBN Governor…
Latest data obtained from the Central Bank of Nigeria (CBN) has revealed that Nigeria spent about $3.07 billion towards servicing external debt. This represents a 38 percent increase, higher than the $2.22 billion spent in the corresponding period of 2022,…
The Central Bank of Nigeria (CBN) says it will continue to support the Federal Government to implement an investment promotion strategy to facilitate investment flow into the economy, The CBN Governor, Mr Olayemi Cardoso, said this at a two-day Special…
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,…
