In a move to strengthen checks and balances within the institutional framework of the Central Bank of Nigeria, a Bill to create the position of Chairman of the Board of the Central Bank of Nigeria has scaled second reading in…
The Central Bank of Nigeria (CBN) has directed all its branches across the country to continue to issue different denominations of the old and redesigned banknotes in adequate quantities to deposit money banks. The apex bank has also maintained that…
…Manufacturers’ debt to banks hit N6.98 trillion in June – CBN …Expert raises alarm over banks’ liquidity By Seun Ibiyemi Banks’ borrowings from the Standing Lending Facility (SLF) of the Central Bank of Nigeria (CBN) increased year-on-year (YoY) by 466…
The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has reiterated that his leadership would focus mainly on the core mandate of price stability. According to a statement from the CBN, Cardoso disclosed this recently, while playing…
In a significant move to address the foreign exchange crisis in Nigeria, the Central Bank of Nigeria (CBN) has reportedly started clearing over $10 billion in foreign exchange backlogs for commercial banks and airline operators. A source from a Tier-1…
By Sodiq Adelakun The Nigerian naira’s prospects have improved following reports that the Central Bank of Nigeria (CBN) is likely to fulfill its forward foreign exchange (FX) obligations. An unverified report suggests that the CBN will fulfill around 75-80% of…
The Central Bank of Nigeria has refuted reports that it intends to redenominate the country’s currency, the Naira, from January 2024. In a statement released on Tuesday, Isa AbdulMumin, the Director of Corporate Communications at the CBN, denied the claims.…
A recent report by the Central Bank of Nigeria (CBN) has revealed that Nigerians spent a whopping sum of $340.84 million on application fees between January and June 2023. The figure marked a notable fall of 44.28 percent when compared…
The Central Bank of Nigeria’s (CBN) unsettled Foreign Exchange (FX) forward contracts have become a cause for concern among analysts in the financial service sector. The persistent delays in delivering the promised foreign currency have not only worsened investor confidence…
Some stakeholders have urged the Central Bank of Nigeria (CBN) to exercise caution in its reversal of certain monetary policy decisions. The stakeholders made the call against the recent reversal of the policy banning sale for foreign exchange to importers…
